Quotes: US 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 by 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
 Sep 19 2014 - Gilas seeks to end Asiad gold droughtArab News
(MENAFN - Arab News) GILAS PILIPINAS leaves for Incheon in South Korea on Saturday to gun for the Philippines' first basketball gold medal in more than five decades in the Asian Games with the ...

 Sep 19 2014 - Aafia Siddiqui seeks to abandon her legal fight for freedomArab News
(MENAFN - Arab News) NEW YORK: A Pakistan-born neuroscientist has become a rallying cry for militant groups demanding her release from a US prison. But in a little-noticed move she is trying to ...

 Sep 19 2014 - Australia foils IS plot 'in largest ever anti-terror raids'Arab News
(MENAFN - Arab News) SYDNEY: Australia's largest ever counterterrorism raids on Thursday detained 15 people and foiled an alleged plot by Islamic State (IS) militants to conduct 'demonstration ...

 Sep 19 2014 - Iraq PM opposes foreign soldiersArab News
(MENAFN - Arab News) BAGHDAD: Iraq's prime minister strongly rejected the idea of the US or other nations sending ground forces to his country to help fight the Islamic State group saying Wednesday ...

 Sep 19 2014 - Armed Shiite rebels push into SanaaArab News
(MENAFN - Arab News) SANAA: Armed Shiite rebels pushed into Yemen's capital Sanaa after clashing with the army in the city's northwest outskirts on Thursday security sources and residents said in an ...

 Sep 19 2014 - US: Assad broke chemical arms agreementArab News
(MENAFN - Arab News) WASHINGTON: US Secretary of State John Kerry on Thursday accused Syrian President Bashar Assad of breaking the terms of a global pact on chemical weapons by unleashing chlorine ...

 Sep 19 2014 - Alpen Capital commences operationsArab News
(MENAFN - Arab News) Alpen Capital Saudi Arabia has been licensed by the Capital Markets Authority (CMA) to commence operations. The company has established its first office in Riyadh and hired a ...

 Sep 19 2014 - Renault claims to excel in aftersale servicesArab News
(MENAFN - Arab News) Renault described as the number one European brand in the Kingdom claims to deliver the best aftersale services maintenance and spare parts across Saudi Arabia.Renault says it ...

 Sep 19 2014 - Abuja: Emirates upgrades aircraftArab News
(MENAFN - Arab News) Only two months after launching its operations to Abuja Emirates a global connector of people and places announces it will upgrade the route's operating aircraft to a Boeing ...

 Sep 19 2014 - SABB Takaful backs school bag donation drive for low-income familiesArab News
(MENAFN - Arab News) SABB Takaful Company sponsored a charity campaign aiming to provide school bags to students from limited income families. The community service project was held on the first day ...

more...


 






Google

Click to Apply

 
 

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

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

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
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

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


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help