Araco begins work on hotel project in Business Bay
UAE-based consultancy Abdul Rahim Architectural Consultants (Araco) will begin its supervisory role on new hospitality project in Dubai’s Business Bay
UAE-based firm Abdul Rahim Architectural Consultants (Araco) will begin its supervisory role on a new hospitality project in Dubai’s Business Bay.
Construction of the 17-floor, four-star hotel project will begin this month, adding a further 228 rooms, and 16 suites to the city's hospitality sector. The project is expected to complete within 21 months.
With an anticipated total built up area of 21,832m2, the hotel will also consist of one basement level, a ground floor, and two parking floors, the company said in a statement.
Bader Abu Shaaban, head of business development, Araco, said: “Over the years we have been involved in many hospitality projects working for renowned brands, operators, owners, and construction companies.
"This time round as well, we are happy to be working with our counterparts in providing more choices and opportunities in Dubai’s strong hospitality sector."
Dubai currently accounts for 30.3% of hotel rooms in development, which translates to 29,200 keys at the end of October 2017, according to a recent report by STR.
This figure is the highest for the MENA region, outpacing Saudi Arabia, and is spread across 95 hotel projects across Dubai in the coming years.
The frenzied development of new hospitality projects should be understood in the context of the UAE’s projected growth in the tourism and travel industry for the next decade, which outpaces the 4% expected in the global sector.
According to the World Travel and Tourism Council, the growth of the tourism sector in UAE is expected to reach more than $70bn (AED260bn) by 2027.
As a factor of the UAE’s GDP, the tourism and travel sector will make up 12.4%, boding well for the country’s ongoing economic diversification strategies.