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Burj Dubai development adds over 2,000 rooms to city's thriving hotel industry
- United Arab Emirates: Monday, May 02 - 2005 at 15:56
- PRESS RELEASE
Eight international chain and boutique hotels will be an integral part of the Burj Dubai Development, Emaar Properties' 500-acre urban development that will drive lifestyle living in Dubai's downtown.
These will add over 2,000 rooms to Dubai's booming hotel industry which crossed a major milestone by playing host to a record 5.42 million guests at 371 hotels and hotel apartments, earning a total of AED6.2 billion in revenues in the year 2004.
According to latest reports, Dubai will need 45,000 additional rooms in the next five years to cope with the expected tourist boom and about 18,000 are in the pipeline up to 2008. There are 45 confirmed hospitality developments planned for this period.
"By offering over 2,000 rooms within the Burj Dubai Development to the burgeoning hospitality sector right in the heart of Dubai's downtown and within sight of the world's most famous landmarks, Emaar is once again strengthening Dubai's image as the lifestyle destination of the Middle East," said Robert Booth, Executive Director, Emaar Properties.
"In creating this exclusive district, Emaar is responding to a convergence of social and economic trends, including consumer demand for greater convenience and a variety of hotel properties that reflect this mixed use community," added Booth. "Designer opulence and fine food will be prime ingredients of boutique hotels while top quality facilities, unlike any seen in this part of the world, will give the business hotels a distinct edge."
"Downtown Dubai at Burj Dubai, with its wonderful elements of elegant and distinctive living, will attract an anticipated 15 million tourists and businessmen to Dubai per annum by the end of this decade. Visitors to Dubai, like anywhere in the world, don't want to spend their time tied up in traffic. It makes life a lot easier if you can live, work, shop and entertain in the same place."
The several billions of dollars invested in Dubai on a swathe of strategic real estate and infrastructure projects are turning the hospitality sector into a major contributor to the emirate's emerging knowledge-based economy. Resources and technology - especially information and communication technology - are also being strategically employed in Dubai to create an advanced hospitality and business environment that is designed to serve knowledge-based ventures and up-market travelers, as well as upscale property buyers.
"As Dubai steps up the pace of economic diversification, focusing on services and niche industries hospitality, in its broad meaning, is increasingly becoming the most attractive sector for investment," he concluded.
The Burj Dubai Development comprises The Dubai Mall, the world's largest shopping and entertainment complex; The Residences, an exclusive upscale series of high-rise apartment towers; an Office Park; Burj Dubai Lake Hotel, Burj Views, The Old Town, a low-rise traditional residences community inspired by the stylist antiquity of Arabian architecture; and The Burj Dubai Boulevard, a 3.5 km stretch that binds the entire district and gives it an international ambience, besides man-made lakes and landscaped parks.
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Notes and media contacts
About Emaar Properties PJSCEmaar Properties is a Public Joint Stock Company listed on the Dubai Financial Market with an asset base of US$7.7 billion including the land bank. The company has witnessed tremendous growth since its inception in 1997 and boasts a rapidly growing tenant base.
Currently, it has several major real estate projects under various stages of development in Dubai including Dubai Marina, Arabian Ranches, Emirates Hills, The Views, The Meadows, The Springs, The Lakes, Hattan Homes, The Greens, Emaar Towers and The Residences at Burj Dubai. The company also owns and manages the Gold and Diamond Park. Emaar has started construction on its most ambitious project to date, the Burj Dubai Development, which comprises The Burj Dubai, The Dubai Mall, The Boulevard, The Old Town, man-made lakes, landscaped parks, etc. The company also has joint ventures and projects across the region, covering Saudi Arabia, Egypt, Jordan, Libya and Morocco.
While Emaar continues to actively pursue expansion in its core business of innovative, high quality real estate development, it has diversified into related business lines to further build value for its 41,000 shareholders, which includes the Government of Dubai. In line with this corporate belief, Emaar also owns and manages three subsidiaries - Dubai Bank, focused on retail and commercial banking, EMRILL, a joint venture with the UK-based Carillion which provides innovative property and facilities management services, and its technology and communications company, Sahm Technologies. Emaar is also the majority shareholder of Amlak Finance, UAE's first mortgage finance company. In 2004 Emaar was included in the Dow Jones Dubai International Financial Centre Arabia Titans Index.
Press Contact:
Kelly Home
ASDA'A Public Relations
Exclusive Affiliate of Edelman PR Worldwide in
Middle East and North Africa
Tel: (+971 4) 335 5969, Fax: (+971 4) 335 6080
Emaar Properties PJSC
Tel: (+971 4) 367 3566
Fax: (+971 4) 367 3705
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