Eight new hotels and serviced apartments projects will be built over the next five years within Dubai Investments Park (DIP), amid surging demand in the run-up to Expo 2020, it was announced on Sunday.
The new hotels and serviced apartments, to be built by individual investors, will be of various star categories and significantly enhance the three hotels currently operational within DIP.
They will include a 303-room Premier Inn, 165-room Courtyard by Marriott and the 252-room Armada Hotel, with operators of luxury hotel chains managing the new properties, the statement said.
With the new projects, the total number of hotel rooms within DIP will increase to approximately 2,000, as Dubai expects to attract as many as 25 million visitors during Expo 2020 – to be held between October 2020 and April 2021.
The emirate will require an additional 45,000 hotel rooms to match the rising demand by 2020 and an investment of nearly $7.1 billion is expected in new hotel projects.
Omar Al Mesmar, general manager of DIP, said: “DIP’s proximity to both Al Maktoum International Airport and the Expo 2020 site is leading to increasing demand for quality hotel and serviced apartment projects to cater to the anticipated tourists flow.”
He added: “The new projects are in line with DIP’s core objective to provide additional choices, better lifestyle services and affordable stay options for residents, visitors and tourists alike – which is integral to Dubai’s overall strategy to boost its tourism potential.
“At least three more investors who own land in DIP are contemplating to enter the hospitality sector with new hotels, which is a testimony to the unprecedented growth potential on offer,” said Al Mesmar.
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