Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

UAE - Shaikh Mohammed streamlines hotel investment and development in Dubai  Join our daily free Newsletter

MENAFN - Khaleej Times - 21/01/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Khaleej Times) His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai has issued a series of directives designed to enhance and streamline hotel investment and development in the Emirate.



The directives were made in response to recommendations raised by Dubai's private sector developers, during a consultation workshop organised and hosted by Dubai's Department of Tourism and Commerce Marketing (DTCM) and Dubai Municipality, and attended by representatives of key investors in the hospitality sector, including Al Habtoor Group, Al Futtaim Group, Al Ghurair Group, Rotana Group, Dubai Holding and Emaar



The workshop, held at The Address, Dubai Mall on January 16, was designed to discuss the Tourism Vision for 2020, including the recent positive growth in the hospitality sector in terms of visitor numbers and hotel openings, to identify barriers-to-entry currently being faced by hotel investors and to find solutions to further stimulate the sector, particularly in the three and four star segment, as the Emirate prepares to welcome 20 million annual visitors by 2020



The directives made byShaikh Mohammed are the following: Hotel construction pre-approval process period to be reduced to two months - currently the approval process for private developers ranges from three to six months; a one-stop-shop for all sector approvals to be created- a single streamlined system will be managed by Dubai Municipality to help reduce red tape for businesses and ensure the new reduced approval timeframes are met; approval processes of planning permission for all hotel establishments in the Emirate to be standardised through Dubai Municipality - currently some free zones manage their own building regulation approval processes for hotels in areas across Dubai so these will now be moved to Dubai Municipality and Government land to be allocated for the development of three-star and four star hotels - Dubai Municipality and government-linked master developers will work with DTCM to identify key locations for hotels at favourable investment terms



Additional incentives to help ensure the development of the additional three and four star hotels that Dubai will need b 2020 to meet the growth in visitor numbers include: no fees on change-of-use of land for hotel usage, and the establishment of a special committee to review the re-zoning of plots: and an additional year of exemption of the 10 per cent Dubai Municipality fee for any three and four star hotels which begin operating before June 2017, based on the Hotel Incentive initiative announced by DTCM in September 2013




Hussain Lootah, the Director-General of Dubai Municipality, said, "Dubai Municipality is fully committed to working with our Government partners and with investors to ensure that we deliver on His Highness Shaikh Mohammed bin Rashid Al Maktoum's directives and on his long term strategic vision



"In partnership with public and private sectors, we will identify opportunities for streamlining in the hotel development sector, and work together to address them. Our aim is to continue Dubai's journey, to further progress from our position as the region's leading tourism and business destination to being recognised as a global leader in trade and tourism. To achieve this, we will demand and help our partners to deliver world-class buildings standards and to create an environment of high quality, sustainable growth.



Helal Saeed Almarri, Director-General of DTCM, said, "The directives of His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, once again demonstrate his vision and his unwavering commitment to identifying and addressing any and all challenges to growth, to ensure Dubai's continued success and prosperity



"Collaboration and consultation between the public and private sector is essential if we are to ensure delivery of the infrastructure, accommodation, events and attractions needed to meet not only the current growth of the tourism sector but the ambitious plan we have for future growth. His Highness Shaikh Mohammed's directives offer new and exciting opportunities for hotel investors. They will act as a stimulus to the sector and help to broaden our current accommodation offering, particularly within the three and four star segment, which is needed to meet the targets outlined in the Dubai Tourism Vision for 2020.




 


Khaleej Times




  MENA News Headlines
 Jul 24 2016 - Two Israeli Reconnaissance Planes Violate Lebanon's AirspaceQatar News Agency
(MENAFN - Qatar News Agency) Beirut, July 23 (QNA) - An Israeli reconnaissance plane has violated the Lebanese airspace above Lebanon's Alma Shaab and flew over Iqlim Kharroub region, as indicated by ...

 Jul 24 2016 - Mass Hunger Strike in Protest of Israel's Detention of PalestiniansQatar News Agency
(MENAFN - Qatar News Agency) Ramallah, July 23 (QNA) - A mass hunger strike across Israeli prisons continued on Saturday in protest of Israel";s detention of Palestinians without charge or trial, ...

 Jul 24 2016 - EU Condemns Kabul AttacksQatar News Agency
(MENAFN - Qatar News Agency) Brussels, July 23 (QNA) -The EU has condemned an attack in Kabul earlier today at a march in which 80 people were killed and over 200 injured. A statement by Maja ...

 Jul 24 2016 - Turkey Forms State of Emergency Coordination CommitteeQatar News Agency
(MENAFN - Qatar News Agency) Ankara, July 24 (QNA) - Turkey has formed a state of emergency coordination committee chaired by Prime Minister Binali Yildirim, according to the Official Gazette. The ...

 Jul 24 2016 - Israeli Army Injures One Palestinian, Arrests Three OthersQatar News Agency
(MENAFN - Qatar News Agency) Ramallah, July 24 (QNA) - Israeli soldiers invaded, at dawn Sunday, the town of Silwad, east of the central West Bank city of Ramallah, shot and seriously wounded one ...

 Jul 24 2016 - Bahrain to launch USD526m market revampMENAFN
(MENAFN) Bahrain's government has announced a USD526 million project to revamp Bahrain's Manama Central Market.In detail, the project is still awaiting approval, six months after it was suspended ...

 Jul 24 2016 - Enec, KHNP shake hands on support services dealMENAFN
(MENAFN) The Emirates Nuclear Energy Corporation (Enec) and Korea Hydro & Nuclear Power (KHNP) have inked an operating support services agreement (OSSA) for the Barakah nuclear power plant in Abu ...

 Jul 24 2016 - QIA, Douglas Emmett acquires USD225m LA office buildingMENAFN
(MENAFN) Qatar Investment Authority (QIA) has announced the acquisition of a mega office property in Los Angeles in joint venture with Douglas Emmett, a real estate investment trust (REIT.In detail, ...

 Jul 24 2016 - WEEK AHEAD: Blue-chips aplenty due to update marketProactiveInvestors - UK
(MENAFN - ProactiveInvestors - UK) The week ahead is set to be a busy one as blue-chips race to get their results out before people head off on holiday. The first of the big companies reports on ...

 Jul 24 2016 - Italian banking crisis may not spill over to global economy: QNBGulf Times
(MENAFN - Gulf Times) Italian banks are in 'trouble” because of their 'large stock of bad loans” QNB said although it does not foresee the trouble 'spilling over” to the wider ...

more...


 





Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help