Al Ruwad Real Estate Consultants announced the launch of eight plots in theAl Jaddafarea 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 RuwadManaging Director, Ismail Al Hammadi stressed that the launch reflects theeffective 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.
AlHammadipointed outthat investing in the hospitality sector by launching 3-4 star hotels is nota randomchoice, but basedon 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 Hammadiemphasized the attractiveness of the 3-4 stat hotel options, particularlyin light of the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, to easing investment procedures in the hotel sector in Dubai and toexempting developers of 3-4 star hotels from municipal fees.
Why the Al Jaddaf?
Speaking about the reason behind choosing theAl Jaddafplots, 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 theAl Jaddafarea, 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 attractivenesswith its new semblance.
AlHammadi 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, UmHurair 2,and within the vicinity of Dubai Mall, Boulevard Mohammed bin Rashid, BurjKhalifa, 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 “DubaiDesignDistrict”–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, theAl Jaddafarea 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, theAl Jaddafarea is the future with promising potentialities, hotel investment in thisarea is currently limited to the5-star Marriott Hotel, and two 3-star hotels, in addition to three other under- construction, turningAl Jaddafinto an attraction
point for investors in the short, medium ranges and the properdestination for investment in the hospitality sector, taking into account that the number of hotels will be constructed in the nearby village culture, All Hammadiadded.
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 includesproject planning studies, real estate brokerage, arrangement of permits in the areas of commercial, industrial, educational, health, and tourism.
Concluding, Al Hammadisaid 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 enjoysaccumulated knowledge in the area of real estate industry, along withvarious 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.