Dubai-based holding company, Meraas, has launched a tourism development project in the Al Seef area of the city. This comes at a time when financial crisis continues to dog China and Russia, the two countries from where most of the tourists to Dubai come from.
The company says the construction of Marsa Al Seef, which is “conceptualised to combine modern lifestyle attractions and traditional cultural influences in a new development”, has begun and adds that it is set for completion in 2017.
The project will boast 200-key heritage hotel, a 150-key contemporary upscale hotel and a 200-room contemporary luxury hotel.
The development, which will be spread across more than 1.8km along the Creek, will also feature traditional souks, floating markets, art galleries and shops for Emirati handicrafts as a showcase of country’s heritage and culture.
While commenting on the crisis in the Chinese economy, Abdul Wahab Al Halabi, CEO of Marsa Al Seef, told AMEinfo that Dubai’s tourism market is diversified, with tourist footfall from different places around the world and, therefore, a slowdown in a market will have limited impact on the city’s tourism sector.
The chief executive refused to reveal the details of investment in the project.
“Meraas is committed to playing a vital role in developing key Dubai touristic projects in line with Dubai’s Tourism Vision for 2020. Marsa Al Seef is set to enrich Dubai’s vibrant tourism industry by complementing and also rejuvenating the bustling trading locale along Dubai Creek as a hospitality, leisure and retail destination that will appeal to residents and tourists alike,” says Al Halabi.