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Azizi announced its plans to invest up to 60 billion dirhams by launching 50 luxury hotels and resorts, as well as a seven-star hotel in Dubai. In doing so, the developer will add approximately 20,000 new rooms to Dubai’s hotel inventory over the next five years. Azizi Hotels & Resorts in the UAE and abroad will be managed by its recently created Hospitality Division.
This announcement comes in conjunction with the 30th edition of the Arabian Travel Market. This follows Azizi’s recently revealed plans to enter the hospitality sector, with the appointment of Michael Zager, the new Chief Operating Officer for Hospitality Affairs, who will lead the recently established division.
Azizi has already obtained most of the plots of land needed to develop its hotels, and plans to launch construction operations before the end of this year 2023.
Pumping investments
Mirwais Azizi, founder and chairman of Azizi Developments, said: “In line with the UAE’s tourism strategy 2031, which aims to benefit from partnerships between the public and private sectors, and seek to attract more than 100 billion dirhams in new investments in the tourism sector, we decided to pump this investment. Al-Kabeer in the hospitality sector, with a value of 60 billion dirhams over the next five years, to be a major contributor to the promising future of Dubai as a global center for tourism.
Azizi will reveal its hospitality projects that it intends to develop to interested parties around the world in the coming months.
