Business
Kea Resort Update
Kea Resort Update.
About this update from Dci Advisors Limited
[{"type":"text","content":"\n RNS Number : 1674F Dolphin Capital Investors Limited 07 January 2010 \n7 January 2010 \n\nDOLPHIN CAPITAL INVESTORS LIMITED\n('Dolphin' or the 'Company')\n\nKea Resort Update\n\nDolphin Capital Investors Limited, the leading investor in the residential resort sector in south-east Europe and the largest real estate investment company listed on AIM in terms of net asset value, is pleased to provide the following update in relation to Kea Resort: \n\n\nManagement by Aman Resorts\n\nDolphin has agreed with Aman Resorts, one of the world's most exclusive resort operators, to manage an Aman villa-integrated resort comprising of an Aman hotel with a minimum of 30 rooms and approximately 40 residential units at Kea (\"Kea Resort\" or the \"Project\"), which will be designed by the renowned architect John Heah.\n\nThe Kea Resort will be the second Aman Resort to be built in Greece after the Aman at The Porto Heli Collection, which is currently under construction. \n\nFounded in 1988 by the renowned hotelier Adrian Zecha, Aman Resorts (www.amanresorts.com) is one of the most innovative high-end hotel companies in the world. Its name is synonymous with luxury, elegant design, the highest standards of service and environmental awareness. Aman currently operates 24 of the world's most elite boutique hotels spread over five continents. Aman Resorts has collected over 500 awards since its establishment, including Condé Nast \"The Gold List\", Gallivanter's Guide \"Best Hotel Worldwide\", \"Best Hotel Group Worldwide\" and \"Most Innovative Hotel Group\".\n\n\nSale of a minority stake in Kea Resort\n\nDolphin has also executed an agreement for the sale of a 33% shareholding in the Kea Resort to Exactarea International Limited, a company affiliated with John Heah who will also undertake the design of the Kea Resort. Post this transaction, Dolphin's stake in the Project following this transaction will be 67%. \n\nThe total net consideration for this transaction amounts to €4.1 m...