Dubai: Hospitality projects could be an immediate beneficiary of investor interest as Dubai closes in on its Expo 2020 bid.
“The surge in various business sectors — from trade to hospitality to tourism — is having an effect on the capital inflow within Dubai and Abu Dhabi,” said Masood Al Awar, CEO of Tasweek Real Estate Development and Marketing. “We feel the time is opportune to invest strongly in iconic real estate here.
“Tourism arrivals are in the millions within the UAE and proof enough of the growing pre-eminence as a preferred holiday destination, which is fuelling the need for more hotel rooms and projects.”
Tasweek is casting the net for potential deals that could be worth Dh1 billion through four investment opportunities in Dubai and Abu Dhabi. The potential deals include three hotel projects worth Dh850 million besides a retail development deal worth Dh200 million.
“Our strategy is aimed at driving interest and strengthening the Emirates’ competitive edge as a favourable investment destination — not only in real estate but across an array of sectors,” Al Awar said.