(MENAFN - Arab News) Al ruwad real estate consultants announced the launch of eight plots in the al jaddaf area for investors in the hospitality industry.
the plots of land are allocated for three- and four- star hotel projects with over 2200 hotel rooms.
preliminary approvals from the concerned authorities have already been obtained a senior official said.
this move comes after sheikh mohammed bin rashid al maktoum uae vice president prime minister and ruler of dubai approved "dubai's new tourism vision for 2020" which aims to attract over 20 million visitors annually by 2020 trebling the sector's contribution to the emirate's economy to almost aed 300 billion.
al ruwad md ismail al-hammadi stressed that the launch reflects the effective input of one of the national establishments whose strategy is based on the vision of dubai's wise leadership. by launching well-planned projects based on the market trends and data al ruwad strives to help translate this vision into facts and figures and work out a real estate formula that is able to create balance between the vision and revenue.
al-hammadi said: "as part of our many initiatives we want to open the door for investors and economic activities of the small and medium enterprises to take an energetic role in the promotion of the real estate scene. as for the al jaddaf area i say why not al jaddaf it is the meeting point of the two parts of dubai creek deira and bur dubai and reflects the heritage attractiveness with its new semblance."
the al jaddaf area is located within the proximity of dubai design district the upcoming home for design fashion and luxury including creative community waterfront residential offices museum academy and beach club which is operated by tecom investments a member of dubai holding.