Dubai – Mubasher: New hospitality projects at the emirate of Dubai grew 6.1% year-on-year $43 billion in the first quarter of 2018, according to a report produced by BNC Network for The Big 5, a leading construction expo.
Around 17 new hotels were delivered in Dubai during the first quarter of the year, while other 7 projects were unveiled in the same period.
The report found that 25 hospitality projects with total investments of $2.2 billion are in tender and forecast to be awarded within 5 months.
“Expo 2020 Dubai is proving a magnificent growth driver for the hospitality and construction sectors,” the portfolio director of The Big 5 at dmg events Josine Heijmans commented.
The number of hotels and hotel apartments in Dubai reached 680 in 2017 including over 107,000 rooms, the Dubai Tourism Department revealed.
“The Dubai Hospitality Construction Overview report shows that the emirate is on track to reach 20 million overnight visitors in 2020,” Heijmans said.
