UAE-based RSG International is investing $163.48 million (AED600 million) to build Sabah Rotana, a new four-star hotel, on Sheikh Zayed Road, with plans to develop two more hotels ahead of Expo 2020, according to company chairman.
On Wednesday, the developer announced signing of a management agreement with Abu Dhabi-based hotel management company Rotana.
The 40-storey hotel, to be built close to the Sheikh Zayed Road at Jebel Ali Central (next to UAE Exchange Metro
Station), will feature 180
rooms and 10 executive suites, as well as 300
The project is RSG’s second collaboration with Rotana this year, following the launch of 534-room Sabah Rotana (opposite the Mall of Emirates) in March.
“We are venturing into the hospitality sector driven by optimism and growth in the emirate ahead of Expo 2020,” RSG international chairman Raj Sahni said.
“We plan to build two more hotels in Dubai,” he said without giving specifics on investment or location.
Rotana chairman Nasser Al Nowais said the company’s robust development pipeline in Dubai includes eight new hotels, having a combined investment of over $850m. The new hotels, set to open by 2020, will add 2,668 keys to its existing inventory, taking its portfolio to 21 hotels and 6,151 rooms.
Omer Kaddouri, president and chief executive officer, Rotana said the emirate is estimated to require an additional 45,000 hotel rooms to meet anticipated demand during Expo 2020.
“Though room rates are falling, we have seen occupancy levels remaining steady,” he added.
Expo 2020 will run from October 2020 until April 2021, with 25 million visitors expected during the six-month long event.For all the latest travel news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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