His Highness Sheikh Mohammed launches leading hospitality investment project
His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, has unveiled the Bawadi hospitality project in Dubai - a AED 100 billion hospitality and tourism development which will see the construction of the world's largest hotel.
The Bawadi hospitality project in Dubai.
The development will also feature the largest concentration of leading hotels anywhere in the world.
The project is to be developed and managed by Tatweer, a member of Dubai Holding and marks the entrance of Tatweer into the hospitality industry in Dubai.
Bawadi project has been conceived to develop capacity for the forecast dramatic increase in tourism to Dubai, which is set to reach more than 15 million visitors over the coming years, compared to the current six million tourists who visited the Emirate in 2005.
Saeed Al Muntafiq, CEO of Tatweer said: 'The launch of this project effectively signals the next major phase in tourism development in Dubai as we look forward to the next eight years of major growth.'
'Strategically this development represents a significant platform in the development of tourism in the Emirate, in terms of growing capacity, and will confirm Dubai as one of the world's premier destinations.'
Bawadi will add an additional 31 hotels to the Emirate over the next eight years, nearly doubling the current number of hotel rooms in Dubai. Centerpiece of the development will be the world's largest hotel, Asia-Asia, which alone will provide 6,500 rooms, combining 5,100 four star and an additional 1,400 five star rooms.
Not only will the Bawadi project help to stimulate direct growth in the tourism industry in the UAE, but it will act also as a strong catalyst to tourism dependent industries such as MICE (Meetings, Incentive Travel, Conventions and Exhibitions) and the corporate travel business.
The announcement of this development follows extensive research into the dynamics of the tourism market in Dubai and projections over the next eight years in terms of growth and development.
The AED 100 billion investment will comprise a AED 30 billion investment from Tatweer in hotel developments and AED 10 billion investment in infrastructure. The remaining AED 60 billion is expected to come from investors.
The total capacity of the Bawadi development will be 29,200 rooms out of which 12,450 will be developed by Tatweer's 12 themed hotels, with a further 16,750 rooms being developed by investors through the construction of another 19 hotels.
In addition, Bawadi will become one of the world's most exciting entertainment and leisure hubs through the development of entertainment centers, shopping malls, theaters and attracting leading hotel brands, restaurants and convention centers. It will cater to all the needs of the wide variety of tastes of the tourists that visit Dubai.
'The Bawadi project will occupy an area of 10 kilometers and will have the highest concentration of hotels in the world,' Muntafiq explained.
'It is expected to host 3.3 million guests by 2016 which in turn will represent more than 21% of the total number of tourists that Dubai expects to host by that time.'
Tatweer will develop a series of luxurious theme-based hotels such as the Desert Gate Hotels & Resorts, the Wahat Alkuttab Hotels, the Desert Beach Hotel & Resort, the Land of Arabia Hotels & Resorts, the Wild Wild West Hotels, the Africa World Hotels, the Europa Hotels & Resorts and the Pirate's Cove Hotels & Resorts.
The hotel projects will be developed in five distinct phases to scale with the growth of the tourism in-flow to Dubai. Initially five luxury hotels will open by 2010 with a further six to open by 2011. Seven hotels will be completed by 2012, seven in 2013 and the final fifth phase will see six further hotels opened in 2014.> |
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