Friday, July 20, 2007

Al Qasimi Group to invest in budget hotel in Dubai

A 370 room budget hotel, worth Dh.140million will be built in Dubai, by the Sharjah-based Al Qasimi Group, announced the company's Chairman.

"Budget hotels are increasing in popularity these days. Dubai is facing shortage of hotel rooms to meet the growing tourist demand, which has resulted in increased hotel fares. Hence, there is need for budget hotels to meet the increasing demand, while also serving those on the look out for a bargain," said Faisal bin Khalid Al Qasimi, of the Al Qasimi group.

The group already has a three-star hotel "Princess Ramee' in Dubai. The construction of the budget hotel, will be close to Mall of Emirates, and will begin in August and will be completed by 2009.

According to the company, the room rates of the budget hotel will be less than Dh.367, though the exact rate is yet to be decided on, as the construction of the hotel will take another two years to be complete.

Shaikh Fasal mentioned that they have branches in Sharjah, Oman and Abu Dhabi, apart from Dubai, and are looking to expand into Qatar and Bahrain too.

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