Dubai Property News
Hotels continue to benefit from Dubai’s growing popularity
Dubai is undoubtedly one of the most sought after holiday destinations on the planet and this is obviously great news for hotel owners.Around 66 million people are expected to land at Dubai International Airport throughout 2013, with many of these visitors staying in the city for a prolonged period.The emirate has also emerged as a global business hub in recent years, so hoteliers are inundated with corporate travellers too, especially when there is a major exhibition or conference being held.Global luxury hospitality company Jumeirah Group is one of many organisations to benefit from the UAE's booming popularity and bosses at the firm said that occupancy rates were up again in the first quarter of 2013.They confirmed that the average daily room rate across its global portfolio of hotels increased by nine per cent during the three-month period, while revenue per available room rose by an impressive 22 per cent.Although these figures were based on resorts all around the world, it is fair to say that Jumeirah's Dubai assets were a driving force behind this improved performance.Speaking at the Arabian Hotel Investment Conference in Dubai, Gerald Lawless, president of the Jumeirah Group, said the first four months of 2013 have been a “tremendous success” for the organisation.”The Dubai hotels have truly benefited from the continuing attraction of Dubai as a prime holiday and business destination,” he remarked.A recent study by TRI Hospitality Consulting highlighted just how popular Dubai has become in recent years. It found that 89.8 per cent of hotel rooms across the city were full in March, which was up by 2.3 per cent when compared to the corresponding month in 2012.Revenue per available room increased by 11.8 per cent during the month, while average room rates rose by nine per cent.This just goes to show how lucrative the UAE's hospitality sector is at the moment and the situation is expected to improve even further in the coming years, which is great news for people who own hotels, apartments and villas in Dubai. Continue reading
DLD underlines commitment to sustainable building
The Dubai Land Department (DLD) has reiterated just how important it is for developers to embrace green building techniques.Dubai is one of the fastest growing cities on the planet and its rapid expansion over the years has caused concerns among environmentalists.However, the government has been keen to address the situation and it has introduced a number of regulations to ensure construction companies do all they can to build in a sustainable way.Director general of the DLD Sultan Butti Bin Mejren delivered a speech during the launch of the Sustainable Real Estate Conference at the Dubai International Convention and Exhibition Centre, in which he focused on just how crucial it is that Dubai's natural resources are preserved.In order to do this, Mr Bin Mejren insisted that firms need to be mindful of how much water and power they are consuming and how they can make better use of the land. He also underlined the importance of meeting international green standards.”Under wise leadership, the UAE has created a thriving real estate environment, one that has brought on confidence and increased the magnitude of investment in the country,” he remarked.”[This] has all the ingredients for success in terms of advanced infrastructure and legislation, and an environment of security and stability – all of which have transformed it into an investment capital.”Dubai's real estate market has really bounced back from the economic downturn and sales have risen sharply in the last 12 months.Last month, Mr Bin Mejren predicted that prices would continue to rise, as the demand for luxurious properties in the most exclusive parts of town soars.Figures released by the DLD showed the value of property sales in Dubai increased by 63 per cent in the first quarter of 2013, as 32 transactions were completed every single hour.Developers are responding to this incredible demand by erecting a plethora of new buildings and this means investors will be spoilt for choice when looking for exciting plots in the coming years.Looking for property investments in Dubai? Make The First Group your first port of call Continue reading
Dubai hotels report strong occupancy figures for March
The number of people taking a holiday in Dubai rose sharply in March, as hoteliers reported very strong occupancy rates.According to the latest HotStats survey of full service four and five-star hotels by TRI Hospitality Consulting, 89.8 per cent of rooms were full during the month, which was up by 2.3 per cent on March 2012.Revenues per available room rose by 11.8 per cent, while the average room rate increased by nine per cent year-on-year.This goes to show just how lucrative Dubai's hospitality sector is at the moment and explains why so many investors are pouring money into the emirate.”2012/13 has been one of the strongest tourist seasons in Dubai's history,” commented Peter Goddard, managing director of TRI Hospitality Consulting in Dubai.”Tourism arrivals from all regions have shown significant growth as the city's leaders have ensured that both capacity and connectivity matched the growing tourism demand and visitor requirements.”He pointed towards the fact Dubai has the second busiest airport on the planet, which is now a “major international transit hub”. Mr Goddard also stated that hotels had benefited from the UAE's spring school holidays in March.This is certainly not the first study to highlight the strength of the Gulf's hospitality sector. Indeed, figures recently compiled by HotelsCombined showed that Middle East and North African (MENA) resorts have increased their room rates by eight per cent in the past year, which is double the global average. This statistic is even more impressive when you consider the well documented troubles that have been reported in certain MENA countries like Syria, which will have had an effect on the final overall figures.PR and community manager at the company Kristen McKenzie said the addition of world-class attractions, such as the biggest ferris wheel on the planet, will continue to set Dubai aside from other destinations.With 66 million people expected to fly into Dubai International Airport in 2013, it is hardly surprising that so many renowned global hotel chains are opening new resorts in the city, especially in more upmarket and popular parts of town. Continue reading
