Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Jumeirah Group rolls out Dh8 billion global expansion  Join our daily free Newsletter

MENAFN - Khaleej Times - 11/05/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Khaleej Times) Luxury hotels planned in gcc china and asia markets

shaikh mohammed shaikh hamdan and abdullah al gergawi viewing project displays at the dubai holding office on friday. — wam

jumeirah group the uae-based luxury hotel chain and a member of dubai holding has embarked on a massive expansion worldwide which will see an addition of 4300 hotel rooms to its portfolio over the next three years.

his highness shaikh mohammed bin rashid al maktoum vice-president and prime minister of the uae and ruler of dubai has endorsed the expansion project at a cost of dh8 billion in 11 countries.

shaikh mohammed made the announcement during a visit to the dubai holding office where he reviewed the development plans of jumeirah group until 2017. he was accompanied by shaikh hamdan bin mohammed bin rashid al maktoum crown prince of dubai; and shaikh ahmed bin saeed al maktoum president of the dubai civil aviation authority and chairman and ceo of emirates airline and group.

“our national companies in the sectors of aviation hospitality ports property development and others tell the uae’s success story to peoples worldwide. they are our envoys in all countries in which we invest. these companies bear greater responsibility compared to the government when it comes to representation of our national economy and boosting confidence in uae investments in all sectors” shaikh mohammed said.

he said the uae foreign investments will grow rapidly in the next few years as the investment strategy will focus on the three basic themes: balance diversification and secure geographical distribution between the east and the west.

shaikh mohammed urged the group to focus on the gcc chinese and some developed asian markets.

mohammed abdullah al gergawi chairman of dubai holding group said the development of the hospitality portfolio of dubai holding is aimed at making the group one of the chief contributors to the success stories of dubai and the uae and add a genuine value to the national economy.

the development aims to double the company’s revenue within the next few years and expand its portfolio to more than 40 hotels and 10000 hotel rooms by 2017 and complete the fourth phase of the madinat jumeirah expansion which overlooks the iconic burj al arab hotel in dubai by the beginning of 2016.

the madinat jumeirah project comprises four major phases including a five-star mega hotel restaurants open walk and a shopping mall.

“the worldwide expansion was drafted after an in-depth study of various markets that are seen as strategic and would offer a steady growth” al gergawi said. the group at present runs 22 hotels worldwide and plans to add 19 more in the next few years which would double the company’s revenues.

he said though the group sees opportunities in many countries “we only pick the best ones that match our plans and complement our other national companies in the new markets.”

according to the company website projects currently under develoment in the middle east and north africa include jumeirah gamsha bay resort egypt; jumeirah at saraya aqaba jordan; jumeirah at saraya bandar jissah oman; jumeirah dubai towers doha qatar; and jumeirah marrakech golf & polo resort morocco.

in europe the group has signed an agreement with ifg basis project to manage a luxury hotel in st. petersburg russia.

developments under construction in asia include five hotels and resorts in china and projects in indonesia and india.

the group’s portfolio of companies includes jumeirah hotels and resorts; jumeirah living a new benchmark for luxury serviced apartments and residences around the world; jumeirah restaurants a company of multiple restaurant concepts licensed globally; jumeirah hospitality an event management company offering five-star corporate and private catering services the sirius recognition and rewards programme packed with outstanding privileges; the emirates academy of hospitality management; the wild wadi waterpark in dubai; and the iconic jumeirah emirates office towers in dubai.

news?khaleejtimes.com


 


Khaleej Times




  MENA News Headlines
 Dec 26 2014 - Russia hopes to host Syria talks in JanuaryThe Peninsula
(MENAFN - The Peninsula)  -Russia plans to host delegations from the Syrian opposition in late January, possibly followed by a visit by regime representatives that could bring the two sides together ...

 Dec 26 2014 - Lebanon's Hezbollah detains 'Israeli spy' in its ranksThe Peninsula
(MENAFN - The Peninsula)  Lebanon's Hezbollah has detained a senior party official it accused of spying for Israel and "sabotaging security operations" abroad, a source close to the movement said on ...

 Dec 26 2014 - Syrian rebel groups in Aleppo enter allianceThe Peninsula
(MENAFN - The Peninsula)  Rebel groups fighting in Syria's northern Aleppo province have agreed to form an alliance, a group monitoring the country's civil war said on Thursday.A lack of unity among ...

 Dec 26 2014 - Israel approves 243 new settler homes in East JerusalemThe Peninsula
(MENAFN - The Peninsula)  Israel has given preliminary approval for the construction of 243 new homes on West Bank land that Israel annexed to Jerusalem, and advanced plans for another 270 homes in ...

 Dec 26 2014 - Iraq, Turkey pledge to join hands to fight ISIS jihadistsThe Peninsula
(MENAFN - The Peninsula)  Iraq and Turkey on Thursday pledged to join forces to fight Islamic State insurgents who are holding swathes of Iraq and Syria."ISIS threatens not only Iraq's and Turkey's ...

 Dec 26 2014 - Tunisia arrests blogger for 'defaming' army officers: lawyerThe Peninsula
(MENAFN - The Peninsula)  Tunisian authorities have arrested a blogger who has been critical of the party of newly elected president Beji Caid Essebsi, as he returned home from France, his lawyer ...

 Dec 26 2014 - Qatar- Zakat Fund got 575 applications in November for aidThe Peninsula
(MENAFN - The Peninsula)  The Zakat Fund at the Ministry of Awqaf and Islamic Affairs received 575 applications for social assistance in the month of November.Zakat Fund, a charity dedicated to ...

 Dec 26 2014 - Kuwait commissions new gas processing plantThe Peninsula
(MENAFN - The Peninsula)  Kuwait has commissioned a new natural gas plant that will raise the energy-rich state's production capacity to more than 2 billion cubic feet a day, officials said on ...

 Dec 26 2014 - Egyptian pound steady on official and unofficial marketsThe Peninsula
(MENAFN - The Peninsula)  The Egyptian pound held steady at a central bank dollar sale on Thursday and on the black market.The bank offered $40 million and said it had sold $38.2 million at a cut-off ...

 Dec 26 2014 - Saudi lifts spending in 2015 budgetThe Peninsula
(MENAFN - The Peninsula)   Saudi Arabia will lift state spending to a record in its 2015 budget while covering a deficit with its huge fiscal reserves, the government said, providing the first ...

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