Luxury development in the Middle East
While the Middle East has certainly seen its share of luxury hotels in the last few years, more brands are developing more properties all throughout the region, with lots of major openings scheduled for the coming years. And although Dubai and Abu Dhabi have been the traditional hotspots for development, high-end companies are looking to expand in other areas as well.
Four Seasons Hotels & Resorts has its eye “firmly fixed” on the Middle East region,?Hotelier Middle East?is reporting. Three properties will launch next year (Four Seasons Dubai, Bahrain Bay and Four Seasons Casablanca), followed by a further four resorts in Abu Dhabi, Oman, Kuwait and Jeddah within the next five years.
The new additions to the Four Seasons? portfolio are part of “ambitious global growth plans” announced by the chain, the report continues; 60 Four Season projects are currently under development.
Having recently announced that?its first 237-room Dubai property?is on target to open in the final quarter of 2014, the chain is also continuing to develop its island-occupying Bahrain Bay and Four Seasons Hotel Casablanca properties; both are scheduled to open during the second quarter of next year.
?The Middle East is one of our most active regions in terms of development, and having properties in almost every capital city in the GCC within the next five years will serve to further consolidate our presence in the market,? said president hotel operations Europe, Middle East and Africa, Christopher Norton.
Other companies are also looking to get in on the scene: Damac, a luxury project developer in the Middle East, told?Trade Arabia?the response to its upcoming luxury hotel and serviced residences in the Burj Khalifa area of Dubai has been “overwhelming,” with the first phase completely sold out during an invite-only launch event.
A recent report by Knight Frank showed that projects in Dubai associated with luxury brands are demanding nearly 60 per cent more value than non-branded projects in the same area.
The one, two and three bedroom serviced hotel residences will be managed by Damac Maison, the hospitality division of Damac Properties.
In other luxury development news, Kempinski has hotels set to open in Riyadh and Al-Khobar in the third quarter of this year and the first quarter of next year, respectively. Jumeirah, based in the Middle East, will open properties in Egypt, Jordan, Kuwait, Morocco and Qatar.