Sharjah Investment and Development Authority (Shurooq) has revealed plans to develop an AED 60 million project on the second day of the Arabian Travel Market (ATM 2017).
The announcement was unveiled through an MoU signed between Shurooq and Qatari tourism company Al Wanis.
Mleiha Desert Resort will offer a range full hotel services, restaurants, cafés, a health club, swimming pool and is scheduled for completion towards the end of 2019. The new luxury hospitality project encompasses a total space of 300,000 spm, and offers 45 keys.
Speaking at an ATM press conference, Shurooq CEO HE Marwan Bin Jassim Al Sarkal described the move as a major boost to Sharjah’s ambitious eco-tourism projects, which are set to appeal to a global audience.
Al Sarkal said: “The new resort has marked a new milestone in our development efforts for the Mleiha Archaeological and Eco-tourism project, since we’ve announced the area’s multiple investment opportunities for hotel and commercial operators many years ago. Our goals are not simply to encourage investment, but to sustain it. We inform, guide and advise potential partners and provide them with reliable, accurate information to help them make the right investment decisions. Sharjah increasingly becomes the right decision.”
The number of hotel guests in Sharjah is growing at an annual rate of 13%, while hotel revenues are up by 12.3%. Revenues are expected to reach $187 million (AED 687 million) by the end of this year, and by the end of 2019, that figure is predicted to reach $226 million (AED 830 million). Four and five-star hotels accounted of 70% of revenues last year, which suggests the majority of investments will focus on those two categories.
Al Wanis board member Abdulaziz Al Amadi said: “Sharjah is an extremely attractive business proposition for Arab investors and Qatar is an established partner in many existing ventures. The Mleiha Desert Resort at the Mleiha Archaeological and Eco-tourism project is a unique opportunity that combines the luxury of a world-class destination with the history and heritage that is so important to all countries around the region, particularly those in the GCC.”
The signing ceremony took place at a press conference on the second day of ATM 2017, which runs until April 27 at Dubai World Trade Centre.
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