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Mazaya Monthly Real Estate Report -
Week 1 - December 2016
The report added that the hotel sector in
Dubai will bring in financial returns as high
as AED 25 billion by the end of the current
year, compared toAED23.9billion last year,
which will help keep the sector’s annual
growth rate at 5% until 2020. In Bahrain,
the hotel sector is bringing in increasing
returns and its contribution to the GDP
is expected to exceed $1 billion by 2020.
Oman is planning to attract around five
million visitors by launching investments
valued at OMR 19 billion, therefore
increasing the hotel sector’s contribution
to 11% of the GDP over the next few years.
The report concluded by underlining the
necessity of expanding hotel investments
in the region in order to draw more
world-standard local, regional and
international investments capable of
meeting and catering to diverse tastes.
In this regard, the report highlighted the
fact that the hotel sector in the region
still suffers the least pain in terms of debt
problems. This is in comparison with
other projects that are under construction
and those funded by banks and other
funding institutions, a fact that positively
outlines the future of the sector’s ability
to attract more local and foreign capital.
Promotion Plans
The report indicated that continued
growth in the hotel sector requires
constant promotional plans and
diverse investments to strengthen
the economic sector and decrease
the budget deficit suffered by the
region’s countries as a result of the
faltering oil returns. The report made
it clear that the conference, business,
religious and recuperative types of
tourism should play a major role in
consolidating the hotel sector and
consequently, the economy at large.