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    Saudi Arabia’s ambitions for food production advancement supported by ICRISAT-FAO partnership

    Saudi Arabia’s ambitions for food production advancement supported by ICRISAT-FAO partnership

    Egypt’s agriculture exports rise 17.2 percent in 5 months

    Egypt’s agriculture exports rise 17.2 percent in 5 months

    Egypt secures $66 mln from EU, AFD to expand wheat storage

    Egypt secures $66 mln from EU, AFD to expand wheat storage

    Agreements signed to establish 4 food factories in Jordan

    Agreements signed to establish 4 food factories in Jordan

    Morocco set to launch potash project: report

    Morocco set to launch potash project: report

    Food Africa and pacprocess MEA to launch in December with an even larger area

    Food Africa and pacprocess MEA to launch in December with an even larger area

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      Number of BIA passengers up by 26.90% annually YTD APRIL 2023

      Number of BIA passengers up by 26.90% annually YTD APRIL 2023

      Qatar’s non-oil sector achieved 9.9% growth in Q4 2022: Prime Minister

      Qatar’s non-oil sector achieved 9.9% growth in Q4 2022: Prime Minister

      International investors keen on entering Saudi market, says minister

      International investors keen on entering Saudi market, says minister

      Egypt aims to enhance contribution of IT sector to GDP: Talaat

      Egypt aims to enhance contribution of IT sector to GDP: Talaat

      Saudi airports witness 42% rise in passengers in first 4 months of 2023

      Saudi airports witness 42% rise in passengers in first 4 months of 2023

      Oman’s annual inflation rate eases to 1.1% in April, lowest since March 2021

      Oman’s annual inflation rate eases to 1.1% in April, lowest since March 2021

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      Oman gears up for its first smart city

      Oman gears up for its first smart city

      Saudi real estate ‘booming’ on big office space demand

      Saudi real estate ‘booming’ on big office space demand

      Value of Saudi construction contracts jump 35% to $51.3bn: report

      Value of Saudi construction contracts jump 35% to $51.3bn: report

      Qatar to implement new strategies for real estate development

      Qatar to implement new strategies for real estate development

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      Real Estate Development Fund deposits $248m in Sakani accounts to boost Saudi housing goals

      Sharjah records 21,486 real estate transactions worth Dh5.9 billion in Q1 2023

      Sharjah records 21,486 real estate transactions worth Dh5.9 billion in Q1 2023

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        Clean energy technology manufacturing market to reach $790bln by 2030: IEA

        Clean energy technology manufacturing market to reach $790bln by 2030: IEA

        Egypt invests $64mln in electricity network development in South Sinai since July 2014

        Egypt invests $64mln in electricity network development in South Sinai since July 2014

        First accredited low-carbon ammonia shipment dispatched from Saudi Arabia to Japan

        First accredited low-carbon ammonia shipment dispatched from Saudi Arabia to Japan

        Oman’s refinery products output jumps by 44%

        Oman’s refinery products output jumps by 44%

        Iraq agrees to 30% stake in TotalEnergies $27bln energy project

        Iraq agrees to 30% stake in TotalEnergies $27bln energy project

        Oman signs $20bn hydrogen deals

        Oman signs $20bn hydrogen deals

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          Qatar: Over 700 hotel keys added in Q1

          Qatar: Over 700 hotel keys added in Q1

          Jordan’s tourism income surges 88% as visitors flock to the country

          Jordan’s tourism income surges 88% as visitors flock to the country

          Dubai’s hotel stock hits 150,000 keys as tourist influx from India, Russia, Oman buoys hospitality sector

          Dubai’s hotel stock hits 150,000 keys as tourist influx from India, Russia, Oman buoys hospitality sector

          Leisure sector in Qatar stronger after World Cup 2022

          Leisure sector in Qatar stronger after World Cup 2022

          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

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        • Agrofood
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          Saudi Arabia’s ambitions for food production advancement supported by ICRISAT-FAO partnership

          Saudi Arabia’s ambitions for food production advancement supported by ICRISAT-FAO partnership

          Egypt’s agriculture exports rise 17.2 percent in 5 months

          Egypt’s agriculture exports rise 17.2 percent in 5 months

          Egypt secures $66 mln from EU, AFD to expand wheat storage

          Egypt secures $66 mln from EU, AFD to expand wheat storage

          Agreements signed to establish 4 food factories in Jordan

          Agreements signed to establish 4 food factories in Jordan

          Morocco set to launch potash project: report

          Morocco set to launch potash project: report

          Food Africa and pacprocess MEA to launch in December with an even larger area

          Food Africa and pacprocess MEA to launch in December with an even larger area

          Trending Tags

          • Business & Economy
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            Number of BIA passengers up by 26.90% annually YTD APRIL 2023

            Number of BIA passengers up by 26.90% annually YTD APRIL 2023

            Qatar’s non-oil sector achieved 9.9% growth in Q4 2022: Prime Minister

            Qatar’s non-oil sector achieved 9.9% growth in Q4 2022: Prime Minister

            International investors keen on entering Saudi market, says minister

            International investors keen on entering Saudi market, says minister

            Egypt aims to enhance contribution of IT sector to GDP: Talaat

            Egypt aims to enhance contribution of IT sector to GDP: Talaat

            Saudi airports witness 42% rise in passengers in first 4 months of 2023

            Saudi airports witness 42% rise in passengers in first 4 months of 2023

            Oman’s annual inflation rate eases to 1.1% in April, lowest since March 2021

            Oman’s annual inflation rate eases to 1.1% in April, lowest since March 2021

            Trending Tags

            • CES 2017
            • Election Results
            • eSports
          • Construction
            • All
            • Infrastructure
            • Real Estate
            Oman gears up for its first smart city

            Oman gears up for its first smart city

            Saudi real estate ‘booming’ on big office space demand

            Saudi real estate ‘booming’ on big office space demand

            Value of Saudi construction contracts jump 35% to $51.3bn: report

            Value of Saudi construction contracts jump 35% to $51.3bn: report

            Qatar to implement new strategies for real estate development

            Qatar to implement new strategies for real estate development

            Real Estate Development Fund deposits $248m in Sakani accounts to boost Saudi housing goals

            Real Estate Development Fund deposits $248m in Sakani accounts to boost Saudi housing goals

            Sharjah records 21,486 real estate transactions worth Dh5.9 billion in Q1 2023

            Sharjah records 21,486 real estate transactions worth Dh5.9 billion in Q1 2023

            Trending Tags

            • Energy
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              • Oil & Gas
              • Power & Electricity
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              Clean energy technology manufacturing market to reach $790bln by 2030: IEA

              Clean energy technology manufacturing market to reach $790bln by 2030: IEA

              Egypt invests $64mln in electricity network development in South Sinai since July 2014

              Egypt invests $64mln in electricity network development in South Sinai since July 2014

              First accredited low-carbon ammonia shipment dispatched from Saudi Arabia to Japan

              First accredited low-carbon ammonia shipment dispatched from Saudi Arabia to Japan

              Oman’s refinery products output jumps by 44%

              Oman’s refinery products output jumps by 44%

              Iraq agrees to 30% stake in TotalEnergies $27bln energy project

              Iraq agrees to 30% stake in TotalEnergies $27bln energy project

              Oman signs $20bn hydrogen deals

              Oman signs $20bn hydrogen deals

              Trending Tags

              • Hospitality
                Qatar: Over 700 hotel keys added in Q1

                Qatar: Over 700 hotel keys added in Q1

                Jordan’s tourism income surges 88% as visitors flock to the country

                Jordan’s tourism income surges 88% as visitors flock to the country

                Dubai’s hotel stock hits 150,000 keys as tourist influx from India, Russia, Oman buoys hospitality sector

                Dubai’s hotel stock hits 150,000 keys as tourist influx from India, Russia, Oman buoys hospitality sector

                Leisure sector in Qatar stronger after World Cup 2022

                Leisure sector in Qatar stronger after World Cup 2022

                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

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              GCC hotel boom driven by mega events

              Zawya

              May 25, 2014
              in Hospitality
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              Qatar and the UAE are powering ahead with tourism projects to prepare for mega events that are expected to draw tens of thousands of visitor, but analysts say Gulf Arab states need to ensure growth can be sustained in the long term.

              Despite the surge in travel to countries such as Saudi Arabia, the United Arab Emirates and Qatar, there is still a significant surplus of available hotel rooms; and more are being added.

              Saudi Arabia, which mostly attracts religious tourism, has the highest number of rooms under construction with 17,135 rooms, followed by the UAE (16,627 rooms), Qatar (5,633 rooms), Jordan (3,231 rooms) and Egypt (2,966 rooms).

              "Many markets are still contending with absorbing the impact of past openings as well as the resuscitation of previously stalled projects," said PricewaterHouseCoopers (PWC) in a new report. "So, although demand is strengthening and supply growth slowing, there remain more rooms available than rooms sold."

              Dubai is adding the most rooms, followed by Mecca, Riyadh, Doha, Abu Dhabi and Jeddah, according to PWC.

              MEGA EVENTS
              Dubai's economy suffered during the global financial crisis and many of the proposed hotel projects were mothballed until conditions improved. A turnaround in the economy, however, has seen the revival of stalled projects coupled with the announcement of new ones.

              "Over the next 4 years, more than 24,000 hotel rooms and serviced apartments are expected to be added to the market," according to Jones Lang La Salle in a new report on Dubai's hotel sector.

              Much of Dubai's construction spree is linked to it hosting the World Expo in 2020. The Department of Tourism and Commerce Marketing estimates a need for between 140,000 to 160,000 new rooms by 2020.

              "Matching demand to supply to accommodate visitors at peak times and for large events runs the risk of overcapacity during non-peak times," said PWC.

              Dubai is addressing the issue of overcapacity by moving down the value chain and building more affordable three and four-star hotels, and is targeting families.

              Developers have previously focused on construction of upscale and upper-upscale properties, especially in Dubai's central business district and along the beach, according to JLL.
              "However, this preference has led to a gap in mid-market and budget hotel rooms, which respectively make up only 15% and 16% of the total room supply."

              Qatar is also looking to spend USD 20 billion on tourism infrastructure as it prepares to host the FIFA World Cup 2022. An estimated 45,000 new hotels rooms will be needed to meet FIFA's guidelines, and as many as 21 hotels are being planned by 2017.

              TAKING IT TO THE NEXT LEVEL
              "Dubai and Doha both face challenges to take their tourism sectors to the next level: Dubai has become one of the world's fastest growing destinations: even without Expo, Dubai had set itself a target of hosting 20 million visitors per year by 2020 – that's almost double the number they have coming through now," PWC commented.

              While mega events provide a boost to the economies and profile of countries, the authorities will need to determine the financial costs of the investment and how the facilities will be utilized to continue to attract tourists after the event.

              "Many growth market mega-event hosts have been known to leverage the mega event to draw attention on the world stage — sometimes described as a 'coming-out' party," the consultancy said. "They view mega-events as an opportunity to showcase their economic development successes to the world as well as to attract future economic growth."

              Given strong macroeconomic fundamentals and stability, the outlook for the hospitality sector in the UAE and Qatar is promising. Estimates show more than 19 million passengers passed through these two countries alone last year – a 79% increase over 2009.

              The number of international association meetings in the Middle East has doubled each decade in the last 50 years, and more than tripled in the last 10 years, according to The International Congress and Convention Association (ICCA).

              "The Middle East joined the information revolution more recently than most regions, so it is not surprising to see some of the world's fastest growth rates here," said ICCA CEO Martin Sirk.

              "Now that excellent meetings infrastructure has been developed, governments have created knowledge strategies to underpin their economic development agendas, and local demand for education and knowledge-transfer is at an all-time high."

              Despite the growth, PWC warns that hotels are facing higher costs. In Dubai, the government has imposed a 10% tourism tax, in addition to a 10% municipality tax and 10% service charge. Shortage of labor and pressure to increase wages could see cost shoot up for many hotel developers.

              The feature was produced by alifarabia exclusively for Zawya  
              25 May

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