Compare Listings

Driving Dubai’s Hospitality Growth: Azizi Reveals Dh60 Billion Investment Blueprint

  • 10 May 2023
  • News
  • 0
Driving Dubai’s Hospitality Growth: Azizi Reveals Dh60 Billion Investment Blueprint

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.

Related posts

Tiger Properties Unveils Altai Tower: A New Benchmark in Luxury Living at Jumeirah Village Triangle

Tiger Properties unveils Altai Tower, a new standard for luxury living in Jumeirah Village Triangle. With impeccable design and world-class amenities, Altai Tower offers spacious residences, high-end finishes, and exceptional facilities. Located in a prestigious area, this launch showcases Tiger Properties' commitment to excellence in the real estate industry.

Continue reading
  • News

An Expert’s Opinion: What Will the Dubai Real Estate Market Look Like in 2023?

It is always interesting to take a look into the future and try to predict what will happen in certain industries. Dubai is one of the most rapidly growing cities in the world, and its real estate market is constantly evolving.

Continue reading

Dubai Real Estate is Still Optimistic in Terms of Supply and Demand

Infrastructure for Expo 2020 and the Golden Visa, according to the real estate services company, will propel growth even further in the second half of the year.

Continue reading