Quotes: US 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.


 






  MENA News Headlines
 Jul 23 2014 - Majid Al Futtaim posts USD3.5b H1 revenuesMENAFN
(MENAFN) Dubai-based shopping mall developer Majid Al Futtaim (MAF) posted a 14 percent growth in the first-half revenues, citing growing earnings across its business units, Emirates 24/7 ...

 Jul 23 2014 - Bahrain's BCFC profit up 13 percent in H1MENAFN
(MENAFN) Bahrain Commercial Facilities Company (BCFC) saw a 13 percent rise in consolidated net profit at USD19.1 million in the first half of the current year compared to USD16.88 million in the ...

 Jul 23 2014 - Asian, Western firms to invest in UAE's oilfieldsMENAFN
(MENAFN) Asian and western firms plan to help operate the UAE's biggest oilfields after a deal with oil majors expired this year, according to Arabian Business.A final decision on the winning firms ...

 Jul 23 2014 - Dubai's Arenco awards Chinese firms two contractsMENAFN
(MENAFN) China State Construction Engineering Co (CSCEC), the Asian superpower's third largest construction firm, has been awarded two contracts from Dubai-based based developer Arenco Real Estate to ...

 Jul 23 2014 - Kuwait- All must work to encourage youth to be creative productive: AmirArab Times
(MENAFN - Arab Times) WAIT CITY July 21 (KUNA): His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah received Monday at Seif Palace the top ten winners of Al-Mubader Youth-Support and Small ...

 Jul 23 2014 - Female thief caught red-handed at Grand MosqueArab News
(MENAFN - Arab News) A female pickpocket was caught at the Grand Mosque in Makkah with more than SR100000 in cash gold mobile phones and women's bags an online paper reported.Field teams working with ...

 Jul 23 2014 - UAE's Just Falafel to expand in OmanMENAFN
(MENAFN) UAE-based food operator Just Falafel said it plans to expand in Oman in a deal to open 10 new outlets, according to Arabian Business.The new stores will be distributed in several places ...

 Jul 23 2014 - Africas oil amp gas sector continues to show substantial growth despite regulatory uncertaintyMENAFN Press
(MENAFN Press) JOHANNESBURG South-Africa July 23 2014/African Press Organization (APO)/ -- The challenges facing oil & gas companies operating in Africa continue to be diverse and numerous fuelled by ...

 Jul 23 2014 - Central African republic sanctions draw attention recomendationMENAFN Press
(MENAFN Press) NEW YORK July 23 2014/African Press Organization (APO)/ -- On 21 July 2014 the Security Council Committee established pursuant to resolution 2127 (2013) concerning the Central African ...

 Jul 23 2014 - Switzerland commits a further CHF 500000 to fight Ebola epidemic in West AfricaMENAFN Press
(MENAFN Press) BERN Switzerland July 23 2014/African Press Organization (APO)/ -- The SDC is allocating CHF 500000 to support Médecins Sans Frontières-Switzerland (MSF-Suisse) in its work to combat ...

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

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