Azizi Developments, a Dubai-based real estate developer, recently announced its plan to invest Dh60 billion in the launch of 50 luxurious hotels and resorts, including a seven-star hotel, in Dubai. The company aims to add approximately 20,000 new keys to Dubai's hotel inventory over the next five years. The announcement comes shortly after the establishment of the company's hospitality division, led by its Chief Operating Officer – Hospitality, Mr. Michael Zager.
The developer has already acquired most of the necessary plots of land for its hotels and is planning to begin construction before the end of 2023. The announcement is in line with the UAE's Tourism Strategy 2031, which aims to attract over Dh100 billion in new investment in the tourism sector through public-private partnerships.
Mirwais Azizi, Founder and Chairman of Azizi Developments, stated that the company's major investment in the hospitality sector is an attempt to become a significant part of Dubai's promising future as a global hub for tourism. The company plans to showcase its upcoming hospitality projects to stakeholders worldwide in the coming months.
Azizi's entry into the hospitality industry signals a significant shift for the developer, who has primarily focused on the residential sector. However, the company's expansion into the hospitality sector is a testament to Dubai's growing tourism industry and its ambition to become a leading global destination.
Azizi Developments' ambitious plan to invest Dh60 billion in the launch of 50 luxurious hotels and resorts, including a seven-star hotel, in Dubai, is a testament to the emirate's growing tourism industry. The developer's entry into the hospitality sector is a significant shift from its traditional focus on residential properties. The investment is in line with the UAE's Tourism Strategy 2031, which aims to attract over Dh100 billion in new investment in the tourism sector through public-private partnerships. The company plans to showcase its upcoming hospitality projects to stakeholders worldwide in the coming months, demonstrating its commitment to becoming a major player in Dubai's hospitality industry.
