Community owner sees ‘surging demand’ due to proximity to Al Maktoum Airport and Expo 2020 site
Dubai Investments Park (DIP) plans eight new hotels and serviced apartments, amid what it calls “surging demand and growth potential” due to its proximity to the Al Maktoum International Airport and proposed Expo 2020 site.
The owner of the Dubai community, which is close to the Jebel Ali industrial area, says the total number of hotels within the area will grow to 11, comprising around 2,000 hotel rooms.
The eight new properties will be built over the next five years by “individual investors” and be of various star categories, DIP said in a statement. It did not specify if any investors are on board, nor which of the “leading luxury hotel chains” would manage the new properties.
The hotels already operational in the area include a 303-room Premier Inn, 165-room Courtyard by Marriott and a 252-room Armada Hotel.
DIP pointed to the 25 million visitors expected at the Dubai Expo 2020 as a factor behind an expected rise in demand for hotel rooms.
“DIP’s proximity to both Al Maktoum International Airport and the Expo 2020 site is leading to increasing demand for quality hotel and serviced apartment projects,” said Omar Al Mesmar, general manager of DIP.
“At least three more investors who own land in DIP are contemplating to enter the hospitality sector with new hotels, which is a testimony to the unprecedented growth potential on offer,” he added.
The 2300-hectare DIP comprises six schools, a university, over 4,500 companies and industrial units, retail offerings and commercial establishments. DIP is a subsidiary of Dubai Investments, which is listed on the Dubai Financial Market.