Hamburg, Germany – 10 December 2010
Dubai hosts – despite all those financial troubles in the recent past – the highest building on earth. The 828 meters tall Burj Khalifa is a symbol for sustained activities in the Middle East hotel investment and real estate sector. The region also accommodates one of the most exclusive hotels in the world – the Armani Hotel with its 160 luxurious suites. The hotel project development activities in and around the Arabian Gulf remain on a high level and are most likely to continue with the 2022 FIFA Football World Cup in Qatar already in sight.
There are currently 468 hotel projects under construction or development. In the past two years more than 110 hotel projects in the first class and luxurious category have opened their doors. A global hotel project survey carried out by tophotelprojects.com, the online database for worldwide first-class and luxury hotel development and construction projects, has revealed this continuous course for growth.
The global crisis has hit the region less hard then initially expected. The momentum of hotel construction in the Middle East continues on a high level. As a consequence, it provides hotel suppliers and business partners with numerous appropriate business opportunities. In 2010 more than 120 new hotels with over 43,000 rooms will have been inaugurated. In 2011 286 hotel openings with a total of 84,100 rooms are scheduled to be opened. A total of 106 new hotel developments (29,600 rooms) are due in 2012 and 2013 currently has 61 projects (20,700 rooms) in the pipeline.
From the originally scheduled hotel development projects a small 5% has been abandoned. And only 6% were – most probably due to obstacles in financial funding – postponed.
A small selection of top hotel projects in the Middle East are:
Swissôtel Mekka, Saudi-Arabia – Category: luxury / 1,571 rooms / projected opening: early 2011
Banyan Tree Al Sahab Resort, Ras Al Khaimah, U.A.E. – luxury / 1,500 / November 2011
MGM Grand Hotel Abu Dhabi, U.A.E. – luxury / 1.200 / early 2012
Mövenpick Oceana Resort & Spa Dubai, U.A.E. – first class / 986 / March 2011
Hilton Hotel & Residence Riad, Saudi-Arabia – first class / 830 / October 2013
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