DUBAI-Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, has endorsed the expansion projects of Jumeirah group at cost AED8 billion in 11 countries. The expansions will see addition of 4,300 hotels rooms over the next three years.
Sheikh Mohammed bin Rashid Al Maktoum
The endorsement came during the visit of Sheikh Mohammed to the Dubai Holding office, where he reviewed the development plans of Jumeirah group until 2017. He was accompanied by H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Civil Aviation Authority and Chairman of Emirates Group.
Sheikh Mohammed said, “Our national companies in sectors of aviation, hospitality, ports, property development and others tell the UAE’s success story to peoples worldwide. They are our envoys in all countries in which we invest. These companies bear greater responsibility compared to the government when it comes to representation of our national economy and boosting confidence in UAE investments in all sectors.”
He added that the UAE foreign investments will grow rapidly in next years, as the investment strategy will focus on the three basic themes: balance, diversification and secure geographical distribution between east and west of the world.Sheikh Mohammed urged the group to focus on the GCC, Chinese and some developed Asian markets.Mohammed Abdullah Al Gargawi, Chairman of the Dubai Holding Group said the development and expansion plans of hospitality sector in Dubai Holding through Jumeirah Group, come in line with the directives of Sheikh Mohammed bin Rashid to make the group one of the contributors to Dubai and UAE success story, and add a genuine value to the national economy. -WAM