UAE to spend $300b on infrastructure development by 2030

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Dubai-RoadsThe UAE is expected to spend over $300 billion by 2030 on infrastructure development as the construction sector bounces back after the economic downturn in 2008, according to a report by HVS, a hospitality consultancy, Gulf News reported.

The UAE’s construction sector gained momentum in 2013, the Middle East Hotel Development Cost Trends report stated. In 2013, Dubai won the bid to host Expo 2020, a six-month global exhibition that is expected to attract 25 million visitors. Expo-related infrastructure development and operations will cost around Dh32.39 billion.

Under Dubai’s 2020 vision announced last year, the number of visitors in the emirate is expected to double from 10 million in 2012 to 20 million by 2020. In order to accommodate these visitors, the number of hotels in Dubai is expected to double. More three- and four-star hotels are expected to open in the emirate. The government introduced an incentive to boost the development of hotels in this segment last year. A ten per cent municipality fee will be waived for five years for properties that expect to operate before June 2017. Also, government land will be allocated for the construction of three- and four-star hotels.

The UAE, Saudi Arabia, Qatar, Bahrain and Oman have recorded double-digit growth in branded room supply between 2010 and 2013, as per HVS data. The UAE’s supply growth was the highest compared to the other regional markets, with around 14,300 rooms. In terms of percentage growth, Qatar was the highest, with an 89 per cent growth in rooms supply.

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Reading Time: 1 minute

The UAE is expected to spend over $300 billion by 2030 on infrastructure development as the construction sector bounces back after the economic downturn in 2008, according to a report by HVS, a hospitality consultancy, Gulf News reported.

Reading Time: 1 minute

Dubai-RoadsThe UAE is expected to spend over $300 billion by 2030 on infrastructure development as the construction sector bounces back after the economic downturn in 2008, according to a report by HVS, a hospitality consultancy, Gulf News reported.

The UAE’s construction sector gained momentum in 2013, the Middle East Hotel Development Cost Trends report stated. In 2013, Dubai won the bid to host Expo 2020, a six-month global exhibition that is expected to attract 25 million visitors. Expo-related infrastructure development and operations will cost around Dh32.39 billion.

Under Dubai’s 2020 vision announced last year, the number of visitors in the emirate is expected to double from 10 million in 2012 to 20 million by 2020. In order to accommodate these visitors, the number of hotels in Dubai is expected to double. More three- and four-star hotels are expected to open in the emirate. The government introduced an incentive to boost the development of hotels in this segment last year. A ten per cent municipality fee will be waived for five years for properties that expect to operate before June 2017. Also, government land will be allocated for the construction of three- and four-star hotels.

The UAE, Saudi Arabia, Qatar, Bahrain and Oman have recorded double-digit growth in branded room supply between 2010 and 2013, as per HVS data. The UAE’s supply growth was the highest compared to the other regional markets, with around 14,300 rooms. In terms of percentage growth, Qatar was the highest, with an 89 per cent growth in rooms supply.

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