Dubai: Investment holding company, Dubai Holding, said on Monday it has launched new commercial incentive packages to encourage hospitality industry investors to enter the three- and four-star hotel segment in the emirate.
The company said in a statement that it has identified 40 different plots following “careful consideration of location, plot size, master development profile, logistics and infrastructure availability”. The total number of rooms estimated from Dubai Holding’s 40 plots is between 7,500 and 8,500 rooms, the company stated, adding that while 18 of the those are in Tecom Investment’s communities, the other 22 plots are situated across Dubai Properties Group’s (DPG) destinations and districts.
At present there are 14 three- and four-star hotels and serviced apartment hotels in these areas including brand names like Radisson blue, Holiday Inn Express and Ramada Plaza.
The step is a part of Dubai Holding’s strategy to further support the development of Dubai’s tourism sector, and the objectives of Dubai’s Tourism Vision 2020, it stated, adding that the company has worked closely with the Department of Tourism and Commerce Marketing (DTCM) for the same. The Tourism Vision 2020 aims to double the number of annual visitors from 10 million in 2012 to 20 million in 2020 and triple the economic contribution of the tourism sector by that time.
Ahmad Bin Byat, Chief Executive Officer of Dubai Holding, said in a statement that he expects the commercial incentive packages to attract investors looking for unique opportunities in Dubai. “We also believe that these packages offer an excellent opportunity for Emirati small and medium businesses [SMEs] and entrepreneurs. By offering land to a multitude of investors, we are opening the door for investors to bring international brands or develop their own, and in turn increase the options available for Dubai’s tourists in the years up to 2020 and beyond,” he added.
