Nearly 200 hotels at design stage in the GCC
Create: Sep 7, 2019 Edit: Sep 14, 2019
Saudi Arabia and the UAE are leading the field in the development of new hotels
There are close to 200 hotels at the design stage in the GCC, according to statistics revealed by intelligence platform ProTenders.
Data up to 1 July, 2019, shows there are 196 hotels at the design stage across the Gulf, insight from construction intelligence business ProTenders revealed. The total value of the GCC hotel market, which includes projects at the planning, design, tender and construction stage, is $501.8bn (AED1.8tn), sister publication Commercial Interior Design revealed.
Saudi Arabia and the UAE are leading the field in the development of new hotels, as both countries continue to prioritise tourism as a means of supporting economic diversification. It was revealed in August that five hotel chains are due to be selected by the Qiddiya Investment Company as part of the hospitality offering of Saudi Arabia’s entertainment gigaproject Qiddiya.
The announcement came when the company, a subsidiary of the Public Investment Fund, unveiled details of the Six Flags theme park that will be built in 2023. In the UAE, a significant number of hotels are being developed in the run-up to Expo 2020 Dubai, which opens its doors in approximately 13 months.
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