By Sean Cronin
Abu Dhabi developer's new unit to oversee up to 40 properties it plans to develop, senior exec says.
Aldar Properties, Abu Dhabi’s largest property developer, plans to form a hotel management unit to oversee up to 40 properties it plans to develop.
The company already has 12 hotels under development in Abu Dhabi, including six that will be delivered next year, UAE daily Gulf News reported on Thursday, citing Paul Bell, managing director of Aldar Hotels and Hospitality.
Aldar on Wednesday said it has signed a management contract with Movenpick Hotels and Resorts to operate a new 300-room hotel project at Al Raha Beach development.
The Swiss hotel chain has 20 projects in the Middle East and will add 25 more that will eventually raise its international portfolio beyond the current 60.
The Abu Dhabi government last year announced an ambitious urban development that anticipates visitor traffic to the UAE capital doubling by 2012.
Major developers and investors in Abu Dhabi are currently working towards realising the government's economic plan that will strengthen the UAE's position as the most preferred destination in the Middle East, the newspaper said.