Dubai: His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, has endorsed the Jumeirah Group’s hotel expansion projects in 11 countries at a cost of Dh8 billion.
The expansions will see the addition of 4,300 hotel rooms over the next three years.
The endorsement came during Shaikh Mohammad’s visit to the Dubai Holding office where he reviewed Jumeirah Group’s development plans till 2017.
He was accompanied by Shaikh Hamdan Bin Mohammad Bin Rashid Al Maktoum, Crown Prince of Dubai, and Shaikh Ahmad Bin Saeed Al Maktoum, Chairman of the Dubai Civil Aviation Authority and Chairman of Emirates Group.
“Our national companies in sectors of aviation, hospitality, ports, property development and others tell the UAE’s success story to peoples worldwide,” Shaikh Mohammad said. “They are our envoys in all countries in which we invest. These companies bear greater responsibility compared to the government when it comes to representation of our national economy and boosting confidence in UAE investments in all sectors.”
He added that the UAE’s foreign investments will grow rapidly in the coming years as the country’s investment strategy will focus on the three basic themes: balance, diversification and secure geographical distribution between the East and West of the world.
Shaikh Mohammad urged the group to focus on the GCC, China and some developed Asian markets.
Mohammad Abdullah Al Gergawi, Chairman of the Dubai Holding Group, said the development and expansion plans of the hospitality sector in Dubai Holding through Jumeirah Group comes in line with the directives of Shaikh Mohammad to make the group one of the contributors to Dubai’s and the UAE’s success story, and add genuine value to the national economy.
