Dubai Investments PJSC-owned Dubai Investments Park (DIP) has announced that eight new hotel projects and serviced apartments will be built in the park ahead of Expo 2020, which will be held between October 2020 and April 2021.
The new projects will be built by individual investors over the next five years within the integrated commercial, industrial and residential community in the Middle East. The newbuilds will increase the total number of hotel rooms in DIP to around 2,000.
Dubai is aiming to attract more than 25 million visitors, including 17.5 million overseas tourists, during the event and will require an extra 45,000 hotel rooms in addition to an investment of nearly $7.1bn in new hotel projects.
The increase will further boost DIP’s lodging capacity and pave the way for more accommodation for incoming business and leisure travellers to Dubai.
Said to comprise various star categories, works are expected to improve three currently DIP operating hotels, namely the 303-room Premier Inn, 165-room Courtyard by Marriott and the 252-room Armada Hotel.
These new properties will be managed by the operators of leading luxury hotel chains.
DIP general manager Omar Al Mesmar said: "Since its inception, Dubai Investments Park has always been the preferred destination for businesses and residents, due to its closeness to Jebel Ali Port and other strategic developments.
"DIP’s proximity to both Al Maktoum International Airport and the Expo 2020 site is leading to increasing demand for quality hotel and serviced apartment projects to cater to the anticipated tourists flow."
The investment park houses an array of facilities and amenities, including six schools, a university, more than 4,500 companies and industrial units, retail offerings and commercial establishments.
"The new projects are in-line with DIP’s core objective to provide additional choices, better lifestyle services and affordable stay options for residents, visitors and tourists alike, which is integral to Dubai’s overall strategy to boost its tourism potential," Al Mesmar added.
Image: Dubai Investments Park is an integrated commercial, industrial and residential community in the Middle East. Photo: courtesy of Dubai Investments Park.