Bayan, a wholly owned subsidiary of London-listed real estate Chagala Group, has completed its Apart Hotel expansion project in the city of Uralsk, Kazakhstan.
Bayan, a wholly owned subsidiary of London-listed real estate Chagala Group, has completed its Apart Hotel expansion project in the city of Uralsk, Kazakhstan.
Chagala said the Apart Hotel offers 45 serviced apartments designed to meet the needs of Chagala's key customer base in Kazakhstan's growing oil and gas sector. Chagala broke ground on the expansion in May 2008. The total room count for the property now stands at 104.
Tim Abson, CEO of Chagala, commented that 'Chagala has a solid presence in all five of the key oil and gas cities of western Kazakhstan. With the Karachaganak Oil and Gas Condensate project beginning its Phase III expansion 140 km to the east of Uralsk, we expect demand for our Apart Hotel to be very strong. The opening of the Apart Hotel expansion project in Uralsk demonstrates our commitment to the Chagala brand and the expansion of its product range across the region.'
Chagala focuses on providing long and short-term accommodation solutions to domestic and international oil and gas companies developing Kazakhstan's largest hydrocarbon discoveries. With the ownership of hotels, guest houses, serviced apartments, remote site facilities, restaurants and offices in its portfolio, Chagala is well-positioned to capitalize on the oil and gas investment being made in Kazakhstan.