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Azizi Developments, the UAE’s leading private developer, has just announced plans to invest up to AED60 billion (US$16.3 billion) to launch 50 high-end luxury hotels and resorts and a very prestigious seven-star hotel in Dubai.
With these new launches, the developer will add nearly 20,000 new keys to Dubai’s hotel stock over the next five years.
These new hotels and resorts in the UAE and beyond will be managed by its own hotel division, Azizi said.
Coinciding with the 30th edition of the Arabian Travel Market, the region’s major event and largest gathering of its kind for the inbound and outbound travel industry, the announcement also follows Azizi’s recently revealed plans to enter the hospitality industry, led by its new Chief Operating Officer – Hospitality Michael Zager, The developer’s newly formed hospitality division.
As a leading developer, it is now leveraging its real estate capabilities and in-depth knowledge of the needs of the accommodation sector to deliver unrivaled hospitality experiences to global travelers.
Azizi noted that it sees its foray into tourism as the next major step in its overall mission to enhance lifestyles, and looks forward to presenting its major hotel projects to the group’s stakeholders in the UAE and beyond.trade arab news agency
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