IFA Hotels and Resorts - KPSC Auditor Raises 'Going Concern' Doubt

IFA Hotels and Resorts Co KSCP is a United Arab Emirates-based company, which is engaged, together with its subsidiaries, in the development of mixed-use hotel and residential resort projects as well as leisure services. The Company operates under the following business segments: property development, hoteliering, investments and others. The Company is mainly engaged in: developing, managing and marketing hotels and resorts; purchasing, selling and developing real estate and land; providing and presenting studies and consultations on all types of real estate issues; performing maintenance services relating to buildings and real estate owned; preparing real estate auctions; holding and managing commercial and residential complexes, as well as direct participation in the establishment of building foundations for residential, commercial, maintenance, touristic, urban, and athletic buildings, among others.