Tag Archives: dubai property news
Another impressive hotel lined up for Dubai Marina
Yet another impressive hotel is being built in the immensely popular Dubai Marina.A number of recent studies have shown the largest man-made marina on earth is a firm favourite among property investors and some of the world's leading hotel chains have erected towering buildings in the exclusive area.The latest firm to do so is the Wyndham Hotel Group, which has outlined plans for an attractive 33-storey building that will cover nearly 6,800 sq ft. The complex will feature 497 guest rooms, 251 luxurious suites and almost 2,500 square feet of spa and leisure facilities.Wyndham has struck a deal with Sigma III Limited – a subsidiary of The First Group – to manage the hotel and it is expected to open within the next three years.Although the organisation has an incredible 7,380 hotels around the world, this will be its first foray into the lucrative UAE market and president and chief executive officer of the company Eric Danziger is excited about the venture.”We're very excited to be bringing our namesake Wyndham Hotels and Resorts brand to Dubai, following its successful introduction to the region through the spectacular Wyndham Grand Regency Doha,” he remarked.”I have no doubt that Wyndham Dubai Marina will be another superb addition to the brand, which we are already growing in key cities throughout the Middle East.”Wyndham is also set to launch two other Gulf-based hotels – the Wyndham Grand Manama and Wyndham Grand Riyadh – which should both be ready by the end of next summer.It is certainly a good time for investors to be exploring the Middle East's hospitality sector, as the number of people visiting destinations in this part of the world continues to rise sharply.Dubai is a particularly lucrative market, with TRI Hospitality Consulting recently reporting that hotel occupancy rates in the city reached 89.8 per cent in March 2013. This was a 2.3 per cent upturn on the corresponding month in 2012 and is a clear indication that the sector is heading in the right direction.The First Group can help you find properties for sale in Dubai Continue reading
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
