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Sun 17 Feb 2008 04:00 AM

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Sorouh sees strong capital demand

Strong demand for hotel rooms in Abu Dhabi is driving development in the UAE's capital, according to Sorouh executive director sales and marketing Masood Al-Awar.

Strong demand for hotel rooms in Abu Dhabi is driving development in the UAE's capital, according to Sorouh executive director sales and marketing Masood Al-Awar.

"Surprisingly, through our research we found that the return and profitability on hotel rooms in Abu Dhabi is higher than Dubai, despite Dubai being the centre of tourism and attractions, and that was mainly due to the availability of hotel rooms against the different activities in Abu Dhabi," he said, speaking to Hotelier Investor at the Tourism Development Projects and Investment Market in Dubai last month.

"The demand for hotels is really high in Abu Dhabi, and that makes it feasible for operators and developers to go into that field in the business."

Al-Awar said the company's SHAMS Abu Dhabi project on Reem Island would include hotels, and Sorouh had also signed a deal with Mövenpick Hotels and Resorts to manage a 230-room property slated for Al Ain.

"We have signed an initial deal with Mövenpick to manage our project in Al Ain, and we will be marketing that very soon as a destination because it has all the components that can go hand-in-hand: a hotel, a shopping mall and a destination," he added.

Sorouh was still in negotiations with hotel operators and management companies regarding opportunities in Abu Dhabi, Al-Awar said.

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