UAE. Cluttons, the real estate specialist that has enjoyed a dedicated Middle Eastern presence since 1976, today announces its market report for Dubai’s Hospitality sector in Q2 2011.
According to the report, Dubai’s hotel sector has benefited from the Emirate’s political stability within the Middle East region, with strong performance in occupancy levels and length of stay.
With a total of 8.3 million visitors(1) in 2010, Dubai is still proving to be a popular and an attractive destination among tourists and visitors.
Overall hotel occupancy in Q1 2011, peak-season for Dubai, av
KUEAIT. There is plenty of potential in the Kuwaiti market, should investor interest remain and the government carries out its proposed spending plans. The government's 2014/15 budget is expansionary, with expenditure growth of 3.2% to US$77.3 billion.
UAE. Phase Two will add 25,000m2 in gross leasable area (GLA); Multi-stage redevelopment, worth more than AED1 billion, includes a new 24 screen VOX Cinemas and further entertainment, dining and retail experiences.
INTERNATIONAL. Hotel Investment Conference Africa (HICA) is a conference, which brings together regional and international hoteliers, investors, developers and senior public sector leaders to network and engage on business matters.
UAE. Dubai's two-fold campaign to step up preparations for the World Expo 2020 and increase the number of tourists visiting the emirate to 20 million by the same year will be detailed in a forthcoming report.
INTERNATIONAL. Mr. Hogan will give a keynote address; Mr. Al Baker will take part in a panel discussion on Critical Issues in Air Transport Today whilst Sir Tim Clark will be interviewed one-to-one during the Summit.
SAUDI ARABIA. Saudi Arabia will need to keep cutting oil output to sustain prices above US$100 a barrel, according to BNP Paribas and Societe Generale; "We are swimming in crude, and they know that better than anyone because they are the biggest exporter."
UAE. IT spending by financial institutions in the big four markets of the Middle East and Africa (MEA) - Saudi Arabia, South Africa, the UAE, and Turkey - is set for strong year-on-year growth of 10.8% in 2014, according to IDC.