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FINANCIAL NEWS
Dubai forecasts USD7.1b investment in new hotel projects
06 Apr 2015
(MENAFN) In hopes of meeting the soaring demands, an investment of about USD7.1 billion in new hotel projects by 2020 is forecast within Dubai Investments Park (DIP), Arabian Business reported.
The emirate necessitates an extra 45,000 hotel rooms to quench the rising demands in one of the most visited cities in the world. Eight hotels and apartments projects will be constructed within DIP by 2020.
Additionally, the demands are set for a rapid surge due to Expo 2020. The hotels and serviced apartments are to be constructed with variegated star classes by specific and carefully selected investors.
“The new projects are in line with DIP’s core objective to provide additional choices, better lifestyle services and affordable stay options for residents,” the general manager of DIP said.
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