Eight new hotels and serviced apartments will be built at Dubai Investments Park (DIP), one of the largest integrated commercial, industrial and residential communities in the Middle East and wholly-owned by Dubai Investments (DI), over the next five years, said a report.

A major project wholly-owned by Dubai Investments, DIP said with these new projects, the total number of hotel rooms within the community will increase to 2,000, stated the Emirati news agency Wam, citing a top company official.

The DIP move comes amid surging demand and growth potential on offer due to the development’s proximity to Al Maktoum Airport and the Expo 2020 site.

"The new hotels and serviced apartments, which will be of various star categories, will be built by individual investors," remarked Omar Al Mesmar, the general manager of DIP.

"These hotels will provide a major boost to the hospitality sector as Dubai expects to attract as many as 25 million visitors during the Expo 2020, a six-month-long extravaganza to be held from October 2020, including the 17.5 million overseas tourists," he stated.

The emirate will require an additional 45,000 hotel rooms to match the rising demand by 2020 and an investment of nearly $7.1 billion is expected in new hotel projects, the report added.