Dubai Investment News

Dubai featured prominently at the recent World Travel Awards (WTAs), which further highlighted the city's status as one of the best holiday hotspots on the planet.The WTAs are widely referred to as the “Oscars of the travel industry” and only the very best destinations, hotels, resorts, airlines and attractions are capable of winning one of the coveted accolades.Le Royal Meridien Resort & Spa Dubai hosted the Middle Eastern leg of the awards last week (May 5th) and it was no surprise to see so many of the emirate's hotels receiving prizes.Atlantis – The Palm, Dubai had a very successful evening, as the establishment scooped the Dubai's Leading Resort, Dubai's Leading Hotel Suite and Middle East's Leading Resort awards.JW Marriott Marquis, Dubai – which has only been open for a few months – also earned recognition, as it landed the Middle East's Leading New Hotel gong.The twin-towered resort was recently named as the tallest hotel on earth and the colossal 77-metre building is just 26 metres short of the imposing Empire State Building in New York.Dubai was also named the Middle East's Leading Destination, fending off competition from some excellent tourism hotspots such as Abu Dhabi and Doha.This is the 20th anniversary of the WTAs and organisers are keen to ensure this year's version of the ceremony is extra special.President and founder of the prize-giving Graham Cooke said: “The Middle East was the perfect region to mark the start of the World Travel Awards 2013 Grand Tour, setting the highest possible bar for the rest of the world to raise the standards of excellence in travel and tourism.”The competition is structured in a way that sees all winners of the regional ceremonies battle it out in the grand final towards the end of the year. It will certainly be very interesting to see how Dubai's fine hotels and resorts fare in what is likely to be a star-studded and glamorous affair in Las Vegas in late 2013. Continue reading →

Emirates Airline has revealed impressive financial results for 2012, with the group clawing in net profits of AED 3.1 billion (£548 million).This is the 25th consecutive year that the company has made a profit and the firm also surpassed the 39 million passenger milestone.The fact that the global economy has remained fragile and fuel prices have risen so sharply in the past 12 months makes Emirates' performance look even more impressive.Profits were 34 per cent higher than last year and the airline also achieved its largest aircraft capacity increase in history, with 34 new vessels being added to the fleet. In addition to this, the business introduced an extra ten routes.Emirates has been responsible for much of the astronomical growth seen at Dubai International Airport in the past few years, as it has created a plethora of new services that enable people from all over the world to travel directly to the UAE.His Highness Sheikh Ahmed bin Saeed Al Maktoum, chairman and chief executive of Emirates Airline and Group, highlighted just how much money the firm has reinvested into its enterprise.Indeed, he confirmed that in 2012/13, AED 13.8 billion had been pumped into new aircrafts, services, products and facilities, which includes the JW Marriott Marquis Hotel in Dubai.”Every dirham that we earn is strategically placed back into our business and it is this tenacious approach that has allowed the group to maintain such strong and consistent profitability under challenging circumstances,” Mr Al Maktoum remarked.”We continue to grow and remain profitable despite the industry norms because we continue to rely on our proven business model and understanding of the marketplace.”The firm's strong marketing campaigns and high-profile sponsorship deals have undoubtedly helped it to build a positive reputation around the world.As well as securing a tie-up with Formula One, the carrier also endorses a number of top football clubs, including Arsenal and newly-crowned French champions Paris Saint Germain. Continue reading →