Francesco Alfonsi said, “The Middle East continues to show growth across many luxury segments including hotels, boats and yachts. We attribute this to cash-enabled spending power of local industry and the consumer, the ongoing internationalisation of consumer buying behavior and the growing influence of emerging markets across the region. Abu Dhabi, for example, is experiencing an on-going release of hotel, leisure, infrastructure and residential projects.”
Alfonsi said that hotel projects to the value of $7bn worth are currently under construction across the GCC, alone.
“In the coming months, 7,000 new hotel rooms will enter the market in Abu Dhabi and Dubai. This reflects the ongoing demand for the luxury interior market in the region,” he added.
He said that the inaugural interactive exhibition brings the finest architecture and concepts from Italy to the UAE. “It is a first time showing of the work and collections of many of the 37 exhibitors,” he concluded.
The exhibition runs in the capital from March 4 to March 6, 2010 at Emirates Palace Hotel, Abu Dhabi.
Wednesday, March 3- 2010 @ 14:06 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.