Tag Archives: exclusive
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
Luxury properties continue to sell well in Dubai
The demand for luxury properties in Dubai increased sharply in 2012, a new study by Knight Frank has shown.Dubai is renowned for its glitz and glamour and it seems that investors have been falling over themselves to secure high-end villas and apartments in plush areas such as the Palm Jumeirah and Dubai Marina.The research indicated the price of luxurious real estate rose by 18.3 per cent between March 2012 and the same month this year and the average value of upmarket accommodation went up by 5.4 per cent in the first quarter of 2013.Dubai is certainly one of the most attractive global markets at the moment and there were only three destinations that could boast more impressive price increases over the course of the year – Jakarta, Bangkok and Miami.The study suggested the average price of luxury property in the world's key cities fell by 0.4 per cent in the first quarter of 2013, with some previously popular areas reporting significant downturns.Tokyo was the most shocking example of this, as real estate prices plummeted by 17.9 per cent in 2012, while a clutch of European cities also struggled badly. Indeed, the most alarming declines were seen in Paris, Madrid, Kiev and Rome.”Cities in Asia, North America and the Middle East continue to dominate the top half of the results table while seven of the bottom ten rankings are occupied by European cities,” the Knight Frank report stated.”We expect stronger growth to emerge in the second quarter as buyers continue to search for luxury bricks and mortar as a way of sheltering their assets from the eurozone's continuing turmoil and the fragile global economy.”A number of recent studies have shown that Dubai is attracting more and more foreign investment and with a plethora of new buildings springing up in the most exclusive parts of town, this is a trend that is likely to continue for the foreseeable future.The First Group can help you find upmarket apartments in Dubai Continue reading
Why Dubai is an important international trading centre
Dubai has quickly established itself as an important trading hub, with businesses from all over the world increasing their presence in the city.Figures recently released by the Dubai Customs showed that foreign trade jumped by a record 22 per cent in 2011, driven primarily by strong links with Asia, Reuters reports.The UAE as a whole completed overseas dealings worth $300 billion (AED 1.1 trillion) during the year and economists expect this momentum to continue in the near future.Dubai Customs executive chairman Ahmed Butti Ahmed told the news provider that Dubai has benefited from market openness and the city's excellent infrastructure has also made it more attractive to foreign investors.”Demand from different countries is increasing, population is increasing, needs are increasing, it's natural,” he was quoted as saying.Mr Ahmed added that the economic downturn in China – one of the world's most powerful countries – will not hinder the UAE's progress unduly.Dubai is aiming for a 4.5 per cent rise in gross domestic product (GDP) in 2013, which would be higher than the three per cent upturn reported in 2011.To put this into context, the UK recently reported modest GDP growth of just 0.3 per cent for the first quarter of 2013 and this followed on from a negative reading in the final three months of 2012. Although the UK is not as influential as China and the US, it is still a major global player and the fact the UAE's economy is performing so much better is testament to the Arab country's strength.Dubai is proving to be an important market for Japanese traders at the moment, particularly those involved in the automobile sector.Speaking to the National, Hiroki Matsumoto – managing director of the Japan External Trade Organisation in Dubai – explained why companies in the Far East see the UAE as a good place to boost their presence.”From here they can reach the entire Middle East and Africa region. Perhaps before they might have been based in Johannesburg in South Africa, but now they have moved or are moving to Dubai,” he was quoted as saying. Continue reading
