Abu Dhabi tops the region with 40,176 hotel rooms in the pipeline
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The economy is being driven by strong demand across government, consumer and private sectors.
The Abu Dhabi Government is continuing to rationalise its projects and implement major restructuring plans in some of its most important entities, making it more responsive to market conditions.
Jeddah residential market gained momentum with a robust upward trend as average prices and rentals continued to increase across the city.
According to latest data from STR Global, the UAE has topped the list with the largest number of new hotel rooms under way in the Middle East and Africa region.
Last August, the hotel development pipeline in the Middle East/Africa comprised 463 hotels totalling 126,090 rooms.
The UAE's total active pipeline during the month stood at 40,176 rooms, followed by Saudi Arabia with 5,531 rooms, according to the STR Global Construction Pipeline Report.
Among the major markets in the region, Abu Dhabi ended the month with 90.3 per cent growth at 13,534 rooms in the Emirate's total active pipeline.
Other markets to report significant expected room growth are Riyadh with 5,531 rooms (87.6 per cent); Dubai with 26,642 rooms (44.6 per cent); Jeddah with 2,733 rooms (44.6 per cent); and Muscat with 6,049 rooms (37.5 per cent). Abu Dhabi expects to see an increase of 15.5 per cent in international visitors with the total tourist spend surging 21.8 per cent to $2 billion in 2011.
Hotel guest figures in the Emirate also reached record levels recently.
The Abu Dhabi Tourism Authority said last July around 189,486 guests stayed in the Emirate’s hotels and hotel apartments, pushing occupancy levels up nine per cent to 65 per cent and overall revenue up six per cent to Dhs271 million.
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