Azizi Developments, the UAE-based real estate developer, is expanding its business by venturing into the hospitality sector. The company plans to introduce a global hotel brand at the Arabian Travel Market (ATM) in Dubai in 2023.
Azizi Developments has made a name for itself in the real estate sector, having delivered more than 13,000 units in Dubai, with a development portfolio of over 200 projects. The company has been recognized for its innovative designs, quality construction, and timely delivery.
Now, the developer is looking to expand its business into the hospitality sector by introducing a new hotel brand. The company has not yet disclosed the name of the hotel brand, but has said that it will be a global brand that will appeal to both business and leisure travelers.
The launch of the new hotel brand is scheduled to take place at the Arabian Travel Market, which is the largest travel and tourism event in the Middle East. The event is held annually in Dubai and attracts thousands of exhibitors and visitors from around the world.
Speaking about the new venture, Farhad Azizi, CEO of Azizi Developments, said, “We are excited to expand our business into the hospitality sector and to introduce a new global hotel brand at the Arabian Travel Market in 2023. This is a significant milestone for us and represents a major opportunity to showcase our capabilities in the hospitality sector.”
He added, “Our new hotel brand will offer a unique and differentiated experience for guests, and will be a valuable addition to the Dubai tourism landscape. We are confident that it will be a great success and will contribute to the growth of the UAE’s hospitality industry.”
The move into the hospitality sector is a strategic decision by Azizi Developments, which aims to diversify its business and expand its footprint in the UAE. The company sees the hospitality sector as a key growth area, given the strong demand for hotels in Dubai, which is a major tourist destination and business hub.
According to data from Dubai Tourism, the emirate welcomed 5.5 million international overnight visitors in the first quarter of 2021, despite the challenges posed by the COVID-19 pandemic. This represents a 31% increase compared to the same period last year, indicating a strong recovery in the tourism sector.
Moreover, Dubai has set an ambitious target to attract 25 million visitors by 2025, which requires the addition of more than 20,000 hotel rooms to the existing supply.
Azizi Developments’ move into the hospitality sector is also in line with the UAE’s Vision 2021, which aims to diversify the country’s economy and reduce its reliance on oil. The UAE government has identified tourism as a key growth sector, and has launched several initiatives to attract tourists and investors to the country.
In addition to the launch of the new hotel brand, Azizi Developments is also working on several other projects in the UAE, including residential and commercial developments. The company recently announced the launch of Azizi Victoria, a mega-development in Mohammed bin Rashid City in Dubai, which will include more than 100 buildings and over 30,000 apartments.
In conclusion, Azizi Developments’ entry into the hospitality sector is a significant move that reflects the company’s ambition to diversify its business and expand its footprint in the UAE. The launch of a new global hotel brand at ATM Dubai 2023 is expected to create a lot of buzz and excitement, and will be closely watched by investors and industry stakeholders. The move is also in line with the UAE’s Vision 2021, which seeks to diversify the country’s economy and boost the growth of the tourism sector.
