Azizi unveils $16.3bln Dubai hospitality investment plan

Azizi unveils $16.3bln Dubai hospitality investment plan

UAE - Azizi Developments, a leading private developer in the UAE, has just announced its plans to invest up to AED60 billion ($16.3 billion) through the launch of 50 upmarket, luxury hotels and resorts and one very prestigious seven-star hotel in Dubai.

With these new launches, the developer will add close to 20,000 new keys to Dubai’s hotel stock over the next five years.

Azizi said these new hotels and resorts in the UAE and beyond will be managed by its very own hospitality division.

While coinciding with 30th edition of the Arabian Travel Market, the region’s leading event for the inbound and outbound travel industry and biggest gathering of its kind, the announcement also follows Azizi’s recently revealed plans to enter the hospitality sector, with its new Chief Operating Officer - Hospitality Michael Zager, leading the developer’s newly established hospitality division.

As a leading developer, it is now leveraging its real estate aptitude and in-depth understanding of the wants and needs in the realm of accommodation to grant visitors unparalleled hospitality experiences, worldwide.

Azizi pointed out that it was seeing its foray into the tourism sector as the next big stride in its overarching mission of enhancing lifestyles and looked forward to showcasing its