With over 770,000 sq m of retail floor space scheduled to be completed in Cairo over the next 18 months, vacancy rates are likely to increase from their current levels, limiting the scope for further rental growth in the Egyptian capital, said a
Abu Dhabi is expanding its luxury hospitality offering with around 5,300 rooms in the pipeline set to push the emirate’s total room tally to 26,000 from 20,700 by 2017, said a report.
Around 2,300 rooms will enter the market
Abu Dhabi’s real estate market remained stable during the second quarter (Q2) of this year, with performance of most sectors remaining flat, and a slight increase in hospitality performance, said an industry expert.
Residential rents in Dubai, UAE, declined by 3 per cent in the second quarter of the year in the face of 6,750 new housing units that were delivered during the period, a report said.
The new supply of homes took the total Dubai re
The occupancy rate at Tamani hotel rooms and apartments allocated for families who attended Eid holiday in Dubai, especially from Saudi Arabia and other Arab countries, exceeded 96 per cent, according to a senior official.
Middle East and Africa hotels have reported an 8.2 per cent decrease in occupancy, a 4.2 per cent increase in average daily rates (ADR) and a 4.4 decrease in revenue per available room (RevPar), according to recent data.
Gulf Hotels Group (GHG), a Bahrain-based owner and operator of hotels, has reported total gross operating revenue of BD17.11 million ($45.39 million) for the first six months ended June 30, as against BD17.91 million for the same period last yea
Bahrain's luxury hotels are forecasting an increase in Ramadan tourism this year.
There is expected to be a five per cent rise in the number of visitors to five-star hotels during the holy month compared with last year –
Saudi-based Elaf Group of Companies for Travel, Tourism and Hotels is offering many special deals and activities to visitors and residents coming to perform Umrah during the holy month.
Ziad Bin Mahfouz, president of Elaf Group of Compa
Abu Dhabi-based Cristal Hospitality is planning to capitalise on the explosive growth of Turkey’s accommodation sector with eight new hotels proposed within three years, encompassing all four brands.
Additionally, the hotel group