Buroj invests Dhs700m to build four serviced apartment towers
Buroj Property Development, a real estate development company, plans to develop 10 serviced apartments across Dubai by next year, Emirates 24|7 reported. “We are investing Dhs700m in four serviced apartment projects this year and we plan to add another six similar projects across Dubai by 2015.”We believe there is a lot of opportunity in this sector as the number of tourists expected to visit are set to rise till and post-2020,” Ismail Ahmed,Chief Executive Officer, Buroj Property Development, told this website. The first four of the serviced apartment towers, comprising over 450 units, will come up in International City (IC), Dubai World Central ( DWC ) and Jumeirah Village Circle (JVC). The latest statistics issued by Dubai’s Department of Tourism and Commerce Marketing (DTCM) revealed hotels welcomed over 5.8 million tourists in the first half of 2014, an increase of one per cent compared to the same period last year.