Cabinet has reportedly approved a multimillion-dollar deal for the sale of the Four Seasons property.
Government sources say the deal involves one of the world’s largest wealth funds based in Qatar, along with a group of local partners.
It essentially ends the five year saga for the upmarket 30-acre beachfront property, which has been lying dormant since 2009.
Officials have welcomed the deal, saying it not only augurs well for vital tourism, but that it should also serve as a real confidence booster in terms of foreign direct investment.
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