Aldar to commission 7 hotels on Yas Island

Abu Dhabi: The Abu Dhabi Tourism Authority, which regulates the hotel industry in the emirate, said yesterday that Aldar Properties will commission seven hotels on the Yas Island by November.

The commissioning will be in time for the UAE capital hosting the final round of the 2009 Formula One Grand Prix during the month.

"The hotels - four 5 star properties, one 4 star and two 3 star - together will boost Abu Dhabi's accommodation inventory by 2,298 rooms and its food and beverage stock by 30 outlets, including 20 individual restaurants," the tourism authority said in a statement.

"Aldar is working towards meeting the objective of opening the hotels for the Formula One Grand Prix. The construction of the hotels on the Yas Island started during the last quarter of 2007 and we are on track to complete them on schedule," Aldar's Marketing and Media Director Ousama Gannoum told Gulf News.

Aldar is Abu Dhabi's largest real estate developer by market capitalisation.

Its development of real estate projects across its portfolio in the emirate of Abu Dhabi is estimated to have exceeded $72 billion (Dh264.47 billion) in terms of value with the entire portfolio slated to be completed and delivered over a period of seven to 10 years.

Abu Dhabi is developing itself as a major global tourist destination and expects its tourist arrivals to increase to 2.7 million visitors annually by 2012.

The emirate is expected to have 25,000 hotel rooms by 2013 to accommodate the projected influx of the tourists, two years ahead of the official target.