Investment opportunities open up at Dubai Marina

29/05/2012 - Dubai Investment News Posted by Bob Brunskill
Investment opportunities open up at Dubai Marina

Investors on the hunt for opportunities for property investment in Dubai may be looking at four plots currently up for sale in one of the emirate's most sought-after districts.Land for premium hotels are currently in need of buyers, Hotelier Middle East reports.Furthermore, two four-star establishment owners are looking for new investors.These opportunities have been posted on Dubizzle, which is one of the listings websites that have become very popular with hoteliers and prospective buyers.Among these are a 12 storey, 59,000 sq ft property with 299 bedrooms, which has been listed with a hefty price tag of AED 320 million (£55.5 million). Furthermore, another four-star building has 100 per cent occupancy and an asking price of AED 250 million for its 129,000 sq ft.Several plots are also being offered to hoteliers looking to enter the market, with these ranging from AED 120 million to AED 142 million.These investment opportunities could prove very lucrative for buyers, as research published by Ernst & Young recently showed Dubai hotels were among the best performing in the Middle East and Africa in 2011, with city-based establishments recording occupancy rises of five per cent to 90 per cent.In addition, both urban and beachfront hotels saw their room rates rise by 11.7 and 6.2 per cent respectively.To capitalise on this, a number of international brands have announced they are going to be opening new properties in the emirate in the coming months.In April, Four Seasons revealed plans for its first property in the UAE, choosing Dubai as the location, while Golden Tulip Hotels stated the region would be home to one if the 13 new establishments it has in the pipeline.Starwood Hotels & Resorts Worldwide announced recently that it too would be adding to its UAE portfolio - which currently comprises 15 Dubai properties - by introducing a new St Regis, W Hotel and Westin to the city.Finally, Rotana stated last week that it will be opening two new complexes in the emirate at the Al Ghurair Centre.