Investment in hotels in top gear, aided by the directive of HH Sheikh Mohammed bin Rashid Al Maktoum to boost hospitality sector.
DUBAI, UAE – The Higher Organising Committee of the Annual Investment Meeting (AIM) 2014 anticipates a spurt in Foreign Direct Investment (FDI) in hospitality and entertainment sectors in the UAE, driven by major developments taking place in the hotel industry.
AIM, which is expected to attract more than 10,000 visitors over three days, will discuss diverse topics related to investments in the hospitality sector in emerging markets.
The AIM, which has established itself as one of the high-profile annual economic events in the region, has attracted more than 120 countries this year. Investment in tourism will be a key topic on the agenda of AIM, along with other vital issues facing emerging economies around the world.
Mr. Dawood Al Shezawi, CEO, AIM’s Organizing Committee: “In light of a series of directives by HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, Ruler of Dubai, to simplify procedures for hotel investments in Dubai, we anticipate a huge interest from international investors keen to explore opportunities in the country. In addition, AIM will also be discussing the prospects of investment in other emerging economies of the world.”
AIM will gather representatives from government departments, private sector, decision-makers and leading drivers of the global economy under one roof.
“The UAE will see more hotel projects coming up in response to the Government of Dubai decree on creating an ideal investment climate. This will result in significant growth in investments in real estate and construction sectors in the near future, especially since the preparations for Expo 2020 are in full swing,” he added.
“We have seen rising interest from investors in hotels and resorts, which will definitely give rise to ambitious and high-profile projects, especially in the UAE and some other countries.”
He added: “The directive of HH Sheikh Mohammed bin Rashid Al Maktoum stipulates minimizing the timeframe needed for getting preliminary approvals for hotel projects to just two months, from the usual period of between 3 to 6 months. This is a proactive move which will attract more investments into the country, giving a huge boost to tourism and real-estate industries in the short and long run.”
The Annual Investment Meeting will put all these topics and others at the heart of the debate. Many seminars will be arranged to raise awareness of the importance of Foreign Direct Investment and its role in securing sustainable economic growth in the region.
Photo caption: Dawood Al Shezawi, CEO, AIM’s Organizing Committee.
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