Dubai govt urged to progress with construction projects

06/10/2011 - Dubai Investment News Posted by Neil King
Dubai govt urged to progress with construction projects

Soaring tourism to Dubai has convinced one property expert to urge the government to continue or resume with its infrastructure projects.Khalaf Al Habtoor, chairman of Al Habtoor Group, said at a press briefing that now is the time to revive the economy in the emirate, particularly when the cost of raw materials and construction prices are low."Such as golden opportunity will not present itself again in the future," he is reported by the Khajeel Times as saying.His comments come as the company has announced it will resume work on Habtoor Island Resort and Spa on Palm Jumeirah. The Dh1 billion project has been on hold since 2008 but the group has fully funded a restart.Now the luxury hotel is due to open in 2013 and will have 330 rooms.Hotel occupancy rates have increased to 78 per cent this year owing to a boost in tourism, according to figures from STR Global.