Will increased tourism encourage investors buying in Dubai?

24/08/2010 - Dubai Property News
Will increased tourism encourage investors buying in Dubai?

Posted by Bob Brunskill

More people could buy property in Dubai as tourism to the area looks set to increase.

According to July's STR Global Construction Pipeline Report, Dubai is the most active city in the Middle East and Africa in the number of hotel rooms it has planned to open.

Figures from the report show that there are 32,686 rooms in the emirate, with 17,162 currently under construction.

The UAE as a whole has 55,165 rooms planned for opening in the future, suggesting that the region expects a boost in tourism.

This will undoubtedly come as welcome news to the developers of the hotels, as it was reported today (August 24th) that UAE airports recorded record passenger numbers last month, with Dubai airport lounges welcoming 4.308 million travellers.

Luxury hotels are not all that will be built, however, with some developers looking to expand economy accommodation across the UAE, as according to Landmark Group chairman Micky Jagtiani: "The country is now attracting the low-cost traveller with budget carriers such as flydubai and Sharjah's Air Arabia," he told Emirates 24/7.