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    Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

    Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

    Egypt’s food industries contribute 24.5% of GDP

    Egypt’s food industries contribute 24.5% of GDP

    $36mln contract for construction of Duqm fisheries complex

    $36mln contract for construction of Duqm fisheries complex

    Ministry signs agreement to support Oman’s honey industry

    Ministry signs agreement to support Oman’s honey industry

    Local, Italian companies partner up to establish food retail chain in Egypt

    Local, Italian companies partner up to establish food retail chain in Egypt

    Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

    Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

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    • Business & Economy
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      Aramco, DHL to build procurement and logistics hub for the energy sector

      Aramco, DHL to build procurement and logistics hub for the energy sector

      Second runway of Muscat airport to be ready this year

      Second runway of Muscat airport to be ready this year

      UAE-Oman rail network expected to bring about new era of collaboration and growth

      UAE-Oman rail network expected to bring about new era of collaboration and growth

      Saudi Arabia issues 124 licenses to industrial units in different sectors in January

      Saudi Arabia issues 124 licenses to industrial units in different sectors in January

      Qatar’s economic growth is strong: ICAEW

      Qatar’s economic growth is strong: ICAEW

      Egypt’s food industries contribute 24.5% of GDP

      Egypt’s food industries contribute 24.5% of GDP

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      • CES 2017
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      Saudi Arabia real estate: PIF-backed firm signs largest deal valued at $1.5bn

      Saudi Arabia real estate: PIF-backed firm signs largest deal valued at $1.5bn

      Construction works of Egypt’s first eco-sustainable industrial complex kick off

      Construction works of Egypt’s first eco-sustainable industrial complex kick off

      Oman Construction Equipment Industry to 2028

      Oman Construction Equipment Industry to 2028

      $36mln contract for construction of Duqm fisheries complex

      $36mln contract for construction of Duqm fisheries complex

      What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

      What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

      Madayn working on major Oman industrial city projects

      Madayn working on major Oman industrial city projects

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        Oman signs $20bn hydrogen deals

        Oman signs $20bn hydrogen deals

        Suez Canal expects US$3.5 billion in revenues in H1

        Suez Canal expects US$3.5 billion in revenues in H1

        UAE and Egypt’s consortium to buy African renewables firm Lekela Power

        UAE and Egypt’s consortium to buy African renewables firm Lekela Power

        Fitch revises Saudi Aramco’s outlook to positive from stable

        Fitch revises Saudi Aramco’s outlook to positive from stable

        Investments in renewables in Egypt reach LE6 bn: Official

        Investments in renewables in Egypt reach LE6 bn: Official

        Egypt signs 8 gas exploration contracts worth $934mn over 15 months

        Egypt signs 8 gas exploration contracts worth $934mn over 15 months

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        • Hospitality
          Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

          Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

          Saudi to be among world’s big leisure tourism hubs by 2030

          Saudi to be among world’s big leisure tourism hubs by 2030

          Qatar’s hospitality sector peaks despite turbulent 2020

          Qatar’s hospitality sector peaks despite turbulent 2020

          Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

          Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

          Staycations to stimulate Qatar’s hospitality sector

          Staycations to stimulate Qatar’s hospitality sector

          Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

          Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

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        • Agrofood
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          • Agriculture
          • Environment
          • Food
          Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

          Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

          Egypt’s food industries contribute 24.5% of GDP

          Egypt’s food industries contribute 24.5% of GDP

          $36mln contract for construction of Duqm fisheries complex

          $36mln contract for construction of Duqm fisheries complex

          Ministry signs agreement to support Oman’s honey industry

          Ministry signs agreement to support Oman’s honey industry

          Local, Italian companies partner up to establish food retail chain in Egypt

          Local, Italian companies partner up to establish food retail chain in Egypt

          Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

          Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

          Trending Tags

          • Business & Economy
            • All
            • Business
            • Economy
            • Finance
            • Industry
            • Technology
            • Trade
            • Transport & Logistics
            Aramco, DHL to build procurement and logistics hub for the energy sector

            Aramco, DHL to build procurement and logistics hub for the energy sector

            Second runway of Muscat airport to be ready this year

            Second runway of Muscat airport to be ready this year

            UAE-Oman rail network expected to bring about new era of collaboration and growth

            UAE-Oman rail network expected to bring about new era of collaboration and growth

            Saudi Arabia issues 124 licenses to industrial units in different sectors in January

            Saudi Arabia issues 124 licenses to industrial units in different sectors in January

            Qatar’s economic growth is strong: ICAEW

            Qatar’s economic growth is strong: ICAEW

            Egypt’s food industries contribute 24.5% of GDP

            Egypt’s food industries contribute 24.5% of GDP

            Trending Tags

            • CES 2017
            • Election Results
            • eSports
          • Construction
            • All
            • Infrastructure
            • Real Estate
            Saudi Arabia real estate: PIF-backed firm signs largest deal valued at $1.5bn

            Saudi Arabia real estate: PIF-backed firm signs largest deal valued at $1.5bn

            Construction works of Egypt’s first eco-sustainable industrial complex kick off

            Construction works of Egypt’s first eco-sustainable industrial complex kick off

            Oman Construction Equipment Industry to 2028

            Oman Construction Equipment Industry to 2028

            $36mln contract for construction of Duqm fisheries complex

            $36mln contract for construction of Duqm fisheries complex

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            Madayn working on major Oman industrial city projects

            Madayn working on major Oman industrial city projects

            Trending Tags

            • Energy
              • All
              • Oil & Gas
              • Power & Electricity
              • Renewable Energy
              Oman signs $20bn hydrogen deals

              Oman signs $20bn hydrogen deals

              Suez Canal expects US$3.5 billion in revenues in H1

              Suez Canal expects US$3.5 billion in revenues in H1

              UAE and Egypt’s consortium to buy African renewables firm Lekela Power

              UAE and Egypt’s consortium to buy African renewables firm Lekela Power

              Fitch revises Saudi Aramco’s outlook to positive from stable

              Fitch revises Saudi Aramco’s outlook to positive from stable

              Investments in renewables in Egypt reach LE6 bn: Official

              Investments in renewables in Egypt reach LE6 bn: Official

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              Trending Tags

              • Hospitality
                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Saudi to be among world’s big leisure tourism hubs by 2030

                Saudi to be among world’s big leisure tourism hubs by 2030

                Qatar’s hospitality sector peaks despite turbulent 2020

                Qatar’s hospitality sector peaks despite turbulent 2020

                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Staycations to stimulate Qatar’s hospitality sector

                Staycations to stimulate Qatar’s hospitality sector

                Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

                Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

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              Abu Dhabi tourism tipped to rebound

              OBG

              July 11, 2016
              in Hospitality
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              Stronger product offerings and continued investment in Abu Dhabi’s leisure and hospitality infrastructure look set to generate a rebound in the emirate’s tourism sector.

              While short-term headwinds could restrict growth and earnings this year, the medium- to long-term outlook for the sector is positive, according to a recent report released by property consultant Knight Frank, with upcoming projects identified as key drivers of continued expansion.

              Rebound on the horizon
              In the first quarter of the year, Abu Dhabi’s hotels saw guest numbers increase by 11% year-on-year (y-o-y) to 1.1m and guest nights rise by 10% y-o-y to 3.1m. However, there was a 2% y-o-y decrease in the average length of stay, according to data recently issued by Abu Dhabi Tourism & Culture Authority (TCA Abu Dhabi).

              The shorter average stay contributed to a 0.4% dip in hotel occupancy, easing to 79% during the first three months of the year, with a bid to maintain occupancy rates by lowering room prices eroding revenue earnings early in 2016.

              Hotel revenues fell 6% y-o-y in the first quarter, down to Dh1.7bn ($463m), with revenue per room dropping 13% to Dh336 ($91). Average room rates fell to Dh425 ($116), marking a 12% y-o-y decrease, according to TCA Abu Dhabi.

              A decrease in visitors from Russia and CIS, combined with the strong US dollar and slower economic growth in Europe and China, which is expected to continue through 2016, are among the factors impacting demand and profit in the short-term, according to Knight Frank.

              However, Abu Dhabi’s commitment to developing its entertainment offerings as well as continued investment in airline infrastructure is expected to stimulate visitor numbers, adding to the sector’s optimistic medium- to long-term outlook.

              Opportunities also exist in the hospitality industry, as Abu Dhabi underserved in mid-market and budget hotel offerings, according to Knight Frank, with demand in these segments expected to rise as the product range is expanded.

              Leisure and culture
              Among the anticipated major demand generators is the $1bn Warner Bros. theme park at Yas Island scheduled to open in 2018. Other high-profile developments, such the $650m Louvre Abu Dhabi on Saadiyat Island, which is slated to open in the second half of this year, will also play a part in boosting the emirate’s visitor numbers.

              In early June Abu Dhabi Department of Economic Development (ADDED) also announced it would be awarding contracts for the development of the Abu Dhabi offshoot of the Guggenheim Museum either late this year or in early 2017, Ali Majed Al Mansoori, chairman of the department, told local media.

              This continued investment is expected to broaden the base of Abu Dhabi’s tourism market and support future growth, said David Dudley, head of JLL MENA’s Abu Dhabi office.

              “Amidst general spending cuts, there is increased evidence of the government continuing to invest in mega tourism projects, particularly on the flagship Yas and Saadiyat Islands,” Dudley told regional media.
              TCA Abu Dhabi is also looking to position Abu Dhabi as an archaeological and adventure destination by promoting Al Ain as a top heritage site in the Arabian Gulf and focusing on Sir Bani Yas Island’s archaeological sites, according to press reports in June.

              National cooperation
              Abu Dhabi is expected to benefit from a raft of new attractions coming on-line in other emirates, such as IMG Worlds of Adventure and Dubai Parks & Resorts’ Six Flags Dubai, which are expected to complement, rather than compete, with the emirate’s offerings.

              This synergy could be codified into policy. Speaking in mid-May at a meeting with tourism officials, Sultan bin Saeed Al Mansouri, the minister of economy, highlighted the role a national strategy could play in positioning the UAE as a leading tourist destination.

              “Tourism is one of the key sources of national income and its role, place and contribution to GDP should be doubled in the future in light of the leadership’s vision to further develop, as the UAE has a huge potential in the form of state-of-the-art infrastructure, magnificent diverse natural resources, grand tourism and hotel facilities and internationally recognised historic and archaeological landmarks,” Al Mansouri said.
              Oxford Business Group
              11 July

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