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MENAFN - Khaleej Times - 11/05/2014
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(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


 






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