Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Dubai to double hotel rooms for Expo 2020  Join our daily free Newsletter

MENAFN - Khaleej Times - 19/03/2014
No. of Ratings : 0
Add to Mixx!

(MENAFN -Khaleej Times) dubai, which spent more than 110 billion to transform itself into the middle east?s commercial and entertainment hub, is seeking to attract 20 million tourists annually by the end of the decade, helal saeed almarri, director-general of the dubai tourism and commerce marketing, or dtcm, said in an interview

Dubai plans to almost double the number of hotel rooms by 2020 as it expects a surge of visitors to the emirate ahead of that year’s world expo.Dubai, which spent more than 110 billion to transform itself into the middle east’s commercial and entertainment hub, is seeking to attract 20 million tourists annually by the end of the decade, helal saeed almarri, director-general of the dubai tourism and commerce marketing, or dtcm, said in an interview. to do that, it needs to raise the number of hotel rooms to as many as 160,000, many of them not in the luxury category dubai is known for, he said.“none of these rooms are being built specifically for the expo or any one event,” almarri pointed out. “they’re being built purely because of the core tourism numbers. dubai won’t turn into a ghost town after the expo.”Dubai lured 11 million tourists last year, up 11 per cent from 2012, contributing to economic expansion of 4.9 per cent, the fastest pace in six years. tourism accounted for about 20 per cent of gross domestic product in 2013, and is forecast to increase between seven per cent and nin per cent through 2020, almarri said.East and wes
While saudi arabia and india represented two of the biggest markets for dubai in 2013, according to dtcm data, the emirate draws tourists from both east and west. dubai airport passenger traffic grew 14 per cent in 2013 after expanding 13 per cent a year earlier. it hit a record 6.4 million in january.“we have a very fragmented source markets, no single market exceeds 10 per cent of tourists,” almarri said, “that is obviously very positive for us, because it allows us to circumvent any anomalies in terms of economies or currencies.”The emirate’s expanding hospitality industry helped boost mall and retail revenue for emaar properties. the developer of the middle east’s biggest shopping center, dubai mall, plans to raise as much as 2.45 billion from listing 25 per cent of emaar malls group, the company said on march 15.Dubai plans to spend about 8 billion ahead of the expo.Easier law
His highness shaikh mohammed bin rashid al maktoum, vice-president and prime minister of the uae and ruler of dubai, moved in january to speed up hotel projects.The period required for preliminary consent was cut to two months from as many as six, and a one-stop approval centre was established.Government land for developers of three- and four-star hotels will be granted on “favourable” terms, the dtcm said in january.Officials want to boost the supply of more affordable hotels to cater to business travellers and holidaying families.About a third of dubai’s 85,000 rooms are in luxury hotels. it’s offering to waive fees if landowners change development plans to build cheaper accommodation, and as much as a five-year exemption from a 10 per cent fee on revenue.“in 2020, five-star hotels rooms will still be the majority, but we’d need the three and four-star category” to build a more balanced market, almarri said.


Khaleej Times

  MENA News Headlines
 Oct 4 2015 - RTA awards USD68.06m contract for Dubai Parks bridgeMENAFN
(MENAFN) The Roads and Transport Authority (RTA) has awarded a USD68.06 million contract for the construction of roads and bridges at the Dubai Parks and Resorts project in cooperation with Meraas ...

 Oct 4 2015 - Kuwait- FIFA dispatches letter to KFA †'Modify law or face suspension'Arab Times
(MENAFN - Arab Times) Kuwait Football Association (KFA) announced that FIFA dispatched a letter to the association Thursday opposing the new law that governs Kuwaiti football. The letter specified ...

 Oct 4 2015 - Kuwait- Gym Team marks birthday of mentor, spends power-packed routinesArab Times
(MENAFN - Arab Times) The Gym Team had a day of fun and powerpacked routines as they celebrated the birthday of one of its mentors, Ida Pelaud, wife of the General Manager of Radisson Blu Hotel who ...

 Oct 4 2015 - Kuwait crude up 66 centsArab Times
(MENAFN - Arab Times) The price of Kuwaiti crude oil was up by 66 cents Thursday to reach $43.04 per barrel after being at $42.38 pb the day before, said a statement by the Kuwait Petroleum ...

 Oct 4 2015 - Kuwait- GDP growth in '15 forecast to slowdown to 3.5 percent yr/yrArab Times
(MENAFN - Arab Times) Real economic growth in the UAE is forecast to slow down modestly in 2015 to around 3.5% year-on-year (y/y) in 2015, as real oil GDP growth continues to get stung by conditions ...

 Oct 4 2015 - Kuwait- NBK offers its customers valuable weekly prizesArab Times
(MENAFN - Arab Times) National Bank of Kuwait (NBK) offers its customers the chance to win valuable prizes weekly when using NBK electronic channels. In an exclusive campaign valid until 7 January ...

 Oct 4 2015 - KFH participates as primary dealer for sukuk issued by IILMArab Times
(MENAFN - Arab Times) Kuwait Finance House (KFH) participated as a primary dealer for short-term sukuk issued by the International Islamic Liquidity Management IILM worth $1.850 bln. KFH is ...

 Oct 4 2015 - Price of investment buildings in Kuwait drops, experts sayArab Times
(MENAFN - Arab Times) A number of real estate experts said here Saturday that there was a visible drop in the price of investment buildings in Kuwait due to a number of geopolitical factors and a ...

 Oct 4 2015 - Bahrain lifts meat subsidies as oil bitesArab Times
(MENAFN - Arab Times) Bahrain more than doubled the prices of beef and chicken removing meat subsidies in a politically sensitive move designed to save money as low oil prices slash the government's ...

 Oct 4 2015 - Shale producers emerge as market stabilizing elementArab Times
(MENAFN - Arab Times) Almost one year ago in November 2014, Saudi Arabia relinquished its role of swing producer and oil prices dropped by more than 50 percent. It now appears that the shale oil ...






Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  

Middle East North Africa - Financial Network

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


Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks

Saudi Arabia 

Economic Calendar
Financial Glossary

Financial Calculators

RSS Feeds [XML]

Corporate Monitor


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