Al Ruwad Real Estate Consultants announced the launch of eight plots in the Al Jaddaf area for investors in the hospitality industry. The 250.000 S/F plots of land are allocated for 3 and 4 star hotel projects, with over 2200 hotel rooms.
Preliminary approvals from the concerned authorities have been already obtained, a senior official said.
This move comes after His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai, approved “Dubai’s new Tourism Vision for 2020″, which aims at attracting over 20 million visitors annually by 2020, trebling sector’s contribution to the Emirate’s economy to almost AED 300 billion.
Dubai’s tourism vision 2020
Commenting on this, Al Ruwad Managing Director, Ismail Al Hammadi stressed that the launch reflects the effective input of one of the national establishments whose strategy is based on the vision of Dubai’s wise leadership. By launching well-planned projects based on the market trends and data, Al Ruwad strives to help translate this vision into facts and figures, and work out a real estate formula that is able to create balance between the vision and revenue.
Al Hammadi pointed out that investing in the hospitality sector by launching 3-4 star hotels is not a random choice, but based on studies and extensive analyses, stressing that the latest studies by Bloomberg indicated that Dubai ranked world’s second city on the list of the most expensive hotel rooms, which requires finding other low cost options while maintaining the excellence that Dubai charted for itself in this area.
Al Hammadi emphasized the attractiveness of the 3-4 stat hotel options, particularly in light of the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, to easing investment procedures in the hotel sector in Dubai and to exempting developers of 3-4 star hotels from municipal fees.
Why the Al Jaddaf?
Speaking about the reason behind choosing the Al Jaddaf plots, Al Hammadi said: “as part of our many initiatives, we want to open the door for investors and economic activities of the small and medium enterprises to take an energetic role in the promotion of the real estate scene. As for the Al Jaddaf area, I say why not Al Jaddaf, it is the meeting point of the two parts of Dubai Creek, Deira and Bur Dubai, and reflects the heritage attractiveness with its new semblance.
Al Hammadi went on saying: “not to mention its strategic position in the heart of Dubai, Al Jaddaf is located west of Dubai and is bordered by the Dubai Creek, Zabeel, Um Hurair 2, and within the vicinity of Dubai Mall, Boulevard Mohammed bin Rashid, Burj Khalifa, which attracted more than 65 million visitors last year, exceeding the number of visitors to New York City.
The Al Jaddaf area is also located within the proximity of “Dubai Design District” – the upcoming home for design, fashion and luxury including creative community, waterfront, residential, offices, museum, academy & beach club is operated by Tecom Investments, a member of Dubai Holding, which has an impressive track record in creating, operating and growing successful industry focused business parks in Dubai.-, and “Meydan”- the true mark of excellence for commercial, residential and mixed use real estate is also home for five months of world class thoroughbred horse racing,- as well as Al Wasl Sports Club.
The Al Jaddaf plots are also positioned near “Wafi City”, – a mixed-use development in Dubai, which includes a mall, hotel, restaurants and residences, “ Dubai Healthcare City” –a hub for health care, medical education and research -, “Culture Village” – a multi-purpose development project, located along the shoreline of the Dubai creek on a 40,000,000-square-foot (3,700,000 m2) plot of land. The centrepiece of this project is Palazzo Versace Dubai, the world’s second after Palazzo Versace of Queensland, Australia.
Concerning its location within the vicinity of the transportation network, Al Hammadi said, the Al Jaddaf area is located on the main roads of Dubai including Sheikh Zayed Road, Sheikh Rashid Road and the Business Bay Junction, and within the proximity of Dubai International Airport and metro stations.
“Under these facts, the Al Jaddaf area is the future with promising potentialities, hotel investment in this area is currently limited to the 5-star Marriott Hotel, and two 3-star hotels, in addition to three other under- construction, turning Al Jaddaf into an attraction point for investors in the short, medium ranges and the proper destination for investment in the hospitality sector, taking into account that the number of hotels will be constructed in the nearby village culture, All Hammadi added.
Al Ruwad, UAE National Establishment
Al Ruwad Real Estate Consultants is a 100% UAE national institution. The Dubai based establishment provides real estate advisory services based on the “one- stop shop” concept which includes project planning studies, real estate brokerage, arrangement of permits in the areas of commercial, industrial, educational, health, and tourism.
Concluding, Al Hammadi said that Al Ruwad has an unprecedented opportunity to be in a leading position in the real estate market, as several objective factors help supporting its ambition towards the forefront, including its highly experienced Emirati workforce who enjoys accumulated knowledge in the area of real estate industry, along with various integrated property services.
Worth to mention is that Al Ruwad has developed range of innovative property solutions that meet the market’s thirst to set a clear work plan to ensure the achievement of investment objectives and anticipated returns.
For more information, please contact:
Al Ruwad Public Relations
Sunday, June 15- 2014 @ 11:10 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.