The hotel real estate market of the UAE can be called constantly growing and of a great demand.
Millions of tourists all over the world are coming to enjoy and admire the rest at the UAE.
Analysis of the hotel real estate market of the UAE allows to conclude that in 2018 the recreation industry will ensure a stable development of the hotel sector of the country. At the same time, undoubtedly, competition will increase.
In 2018, 80 new projects of hotel real estate are planned. As a result, the country’s number fund should increase by approximately 25,000 units. Industry experts believe that thanks to new attractions and objects of tourist interest, the country will attract more guests, and this will help balance supply and demand.
According to the experts, the UAE hotel industry will remain relatively stable in 2018.
More stability should be expected from the submarkets, focused on recreation, and new hotels. Older hotels will have to upgrade to compete with the industry’s fresh offer.
Such unique objects as Dubai Frame, Warner Bros World, La Mer, Dubai Safari, etc., are designed to enrich the tourist offer of the Arab Emirates. They should be the main catalyst for the growth in inbound tourism indicators.
Undoubtedly, in 2018 the industry will not be able to avoid some of the challenges, the most important of which will be growing competition. Nevertheless, the analysis of the hotel real estate market of the UAE in recent years shows its ability to quickly restore the balance of supply and demand due to the continued increase in the number of guests.
Russell Sharp, managing director of Citymax Hotels, believes that as early as 2019, the development of the hotel industry in the UAE will begin to pick up pace. Of course, Expo 2020 in Dubai will be the main factor of the industry growth.
So, one of the main projects for 2018 is the building of the highest hotel of the world, Gevora (365m). It will be open in March 2018.
The hotel will have 75 floors and 528 hotel rooms, luxurious spa, fitness center, and four restaurants – a restaurant, a café, a Mediterranean restaurant and a pool bar.
In Dubai, there are three of the world’s tallest hotels. JW Marriott Marquis which is 355 meters high, Burj Al Arab (321 m, 60 floors) and Rose Rayhaan by Rotana (333 m, 72 floors).
In addition, Dubai has the tallest structure on the planet – Burj Khalifa, the iconic skyscraper with unthinkable 828 m. of heights.