Azizi Developments, a prominent real estate developer in Dubai, is set to make a significant investment in the hospitality sector with a plan to invest AED 60 billion. This ambitious venture includes the launch of 50 luxurious hotels and resorts, along with a prestigious seven-star hotel, contributing approximately 20,000 new hotel keys to Dubai’s thriving tourism industry over the next five years. Managed by Azizi’s dedicated hospitality division, these properties will elevate the city’s accommodation offerings to new heights.
The announcement, which coincided with the 30th edition of the Arabian Travel Market, the region’s premier travel industry event, follows Azizi’s recent foray into the hospitality sector with the appointment of Mr. Michael Zager as the Chief Operating Officer – Hospitality. Aligned with the goals set by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai, to attract 40 million visitors and boost the tourism sector’s GDP contribution to AED 450 billion within seven years, Azizi’s hospitality investment plan aligns perfectly with the government’s vision.
Azizi has already secured the majority of the required land plots for its hotels and intends to commence construction by the end of 2023. Mirwais Azizi, the Founder and Chairman of Azizi Developments, expressed his enthusiasm for the project, stating, “With the UAE’s Tourism Strategy 2031 aiming to attract over AED 100 billion in new investment, we have decided to make a major investment in the hospitality sector. Our AED 60 billion commitment over the next five years will position us as a key player in Dubai’s promising future as a global tourism hub.”
As a tribute to the visionary leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Azizi Developments is proud to contribute to the city’s and the UAE’s growth plans. The developer plans to showcase its upcoming hospitality projects to stakeholders worldwide in the coming months. Interested individuals can visit the Sales Gallery located on the 13th floor of the Conrad Hotel on Sheikh Zayed Road to learn more about Azizi’s exciting developments in Dubai’s real estate market.
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