Al Moosa Enterprises, a Dubai conglomerate with interests spanning real estate, construction, automotive and interiors, plans to build three hotels spanning a million square feet of land on the Palm Jumeirah, to be operated by global hospitality brands Hilton, Taj and Marriott.
“We are not only expanding our footprint in the UAE, but also helping to strengthen Dubai’s tourism sector, by bringing an additional 1,500 hotel rooms to support the Government’s tourism vision,” Faisal Al Moosa, the company representative for Al Moosa Enterprise said on Sunday.
The hotels are already under construction and due for completion in 2019. They will bring the total number of hotels operated by Al Moosa to 16, with a total of 4,735 rooms. The group operates nine hotels in Dubai, including its oldest brand Golden Sands, Four Points by Sheraton and the Ramada Plaza in JBR, as well as two in Sharjah and two in Oman. The investment value of the latest three properties was not revealed.
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Hilton The Palm will be located on the trunk of the man-made Palm Jumeirah island and feature 608 rooms and suites. Marriott The Palm is a beachfront hotel on the trunk too, also with 608 rooms and suites, while the luxury Taj Exotica Resort & Spa is located on the eastern crescent of The Palm and aimed at the wealthy Indian expatriate community, Laurent Rigaud, Al Moosa's general manager of operations, told The National at the ATM travel show in Dubai.
Occupancy rates across Al Moosa’s hospitality portfolio stand at above 90 per cent, Mr Rigaud said – higher than the Dubai average of 77.7 per cent, according to a report from consultancy EY in March.
Mr Rigaud said he was anticipating another strong year for the group’s hotels, although he declined to reveal details of financial performance.
“There has been pressure due to increasing supply in the Dubai hotels market, but our occupancy rates are high,” Mr Rigaud said. “Dubai is a volume market – look at the continued expansion of Emirates airline and steady rise in visitor numbers recorded by Dubai Tourism. We are confident in growth for 2018.”
Al Moosa, which owns developer Arenco Real Estate, is also expanding in the residential real estate sector, with two projects under construction in Dubai and due to complete in 2020.
The first is a development of 20 to 25 villas in Jumeirah Village Circle and the second is a tower of around 400 Golden Sands-branded serviced apartments in Al Mankhool.
There are no plans to expand into Abu Dhabi at present, although over the longer term, Al Moosa may look to enter Saudi Arabia or other GCC markets other than Oman, where it owns the Crowne Plaza Muscat, Mr Rigaud said.
SPECS
Engine: 1.5-litre turbo
Power: 181hp
Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
On sale: Now
DEADPOOL & WOLVERINE
Starring: Ryan Reynolds, Hugh Jackman, Emma Corrin
Director: Shawn Levy
Rating: 3/5
BRIEF SCORES:
Toss: Nepal, chose to field
UAE 153-6: Shaiman (59), Usman (30); Regmi 2-23
Nepal 132-7: Jora 53 not out; Zahoor 2-17
Result: UAE won by 21 runs
Series: UAE lead 1-0
Small Things Like These
Director: Tim Mielants
Cast: Cillian Murphy, Emily Watson, Eileen Walsh
Rating: 4/5
COMPANY PROFILE
Company name: Revibe
Started: 2022
Founders: Hamza Iraqui and Abdessamad Ben Zakour
Based: UAE
Industry: Refurbished electronics
Funds raised so far: $10m
Investors: Flat6Labs, Resonance and various others
Herc's Adventures
Developer: Big Ape Productions
Publisher: LucasArts
Console: PlayStation 1 & 5, Sega Saturn
Rating: 4/5
UAE currency: the story behind the money in your pockets
Company profile
Company name: Fasset
Started: 2019
Founders: Mohammad Raafi Hossain, Daniel Ahmed
Based: Dubai
Sector: FinTech
Initial investment: $2.45 million
Current number of staff: 86
Investment stage: Pre-series B
Investors: Investcorp, Liberty City Ventures, Fatima Gobi Ventures, Primal Capital, Wealthwell Ventures, FHS Capital, VN2 Capital, local family offices
COMPANY PROFILE
Company: Eco Way
Started: December 2023
Founder: Ivan Kroshnyi
Based: Dubai, UAE
Industry: Electric vehicles
Investors: Bootstrapped with undisclosed funding. Looking to raise funds from outside
In-demand jobs and monthly salaries
- Technology expert in robotics and automation: Dh20,000 to Dh40,000
- Energy engineer: Dh25,000 to Dh30,000
- Production engineer: Dh30,000 to Dh40,000
- Data-driven supply chain management professional: Dh30,000 to Dh50,000
- HR leader: Dh40,000 to Dh60,000
- Engineering leader: Dh30,000 to Dh55,000
- Project manager: Dh55,000 to Dh65,000
- Senior reservoir engineer: Dh40,000 to Dh55,000
- Senior drilling engineer: Dh38,000 to Dh46,000
- Senior process engineer: Dh28,000 to Dh38,000
- Senior maintenance engineer: Dh22,000 to Dh34,000
- Field engineer: Dh6,500 to Dh7,500
- Field supervisor: Dh9,000 to Dh12,000
- Field operator: Dh5,000 to Dh7,000
The Prison Letters of Nelson Mandela
Edited by Sahm Venter
Published by Liveright
The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
Read part four: an affection for classic cars lives on
Read part three: the age of the electric vehicle begins
Read part one: how cars came to the UAE
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
THE SPECS
Jaguar F-Pace SVR
Engine: 5-litre supercharged V8
Transmission: 8-speed automatic
Power: 542bhp
Torque: 680Nm
Price: Dh465,071
Mental health support in the UAE
● Estijaba helpline: 8001717
● UAE Ministry of Health and Prevention hotline: 045192519
● UAE Mental health support line: 800 4673 (Hope)
More information at hope.hw.gov.ae
MATCH INFO
Europa League final
Who: Marseille v Atletico Madrid
Where: Parc OL, Lyon, France
When: Wednesday, 10.45pm kick off (UAE)
TV: BeIN Sports
THREE
Director: Nayla Al Khaja
Starring: Jefferson Hall, Faten Ahmed, Noura Alabed, Saud Alzarooni
Rating: 3.5/5
MO
Creators: Mohammed Amer, Ramy Youssef
Stars: Mohammed Amer, Teresa Ruiz, Omar Elba
Rating: 4/5