In October 2005, Dubai International Capital Emerging Markets became an anchor investor in Ishraq Gulf Real Estate Holding BSC (‘Ishraq’), a private company established in Bahrain, with other key regional investors in order to roll-out the “Express by Holiday Inn” brand throughout the GCC (excluding Saudi Arabia). Express by Holiday Inn is the fastest-growing budget hotel chain the world with an average of two hotels openings per week. Ishraq plans to build and manage over 22 hotels in the GCC region in the next four years.

Dubai International Capital Emerging Markets is also Ishraq’s partner in Ishraq Dubai LLC. As part of Ishraq Dubai LLC, the first Express by Holiday Inn hotel has been constructed in Knowledge Village, Dubai with 244 rooms and officially opened in October 2007. Four other sites are under development in Dubai. Ishraq is also setting up operations in Bahrain and Oman, and is actively seeking development opportunities in Qatar and Kuwait. Through Dubai International Capital Emerging Markets’ strategic relationships, Ishraq has also been offered development opportunities in Jordan, as well as other countries in North Africa, which are being assessed.