Plans to invest Dh1 billion in the development of Dubai's Al Barsha Complex were recently revealed by Dubai-based API Hotels and Resorts (API H&R). The development project includes the construction of a hotel and furnished apartments, as well as a residential block and commercial tower.
API H&R, launched earlier in the year by Al Ali Property Investments (API), intends to invest in and own hotels and resort complexes throughout the UAE, according to Khaleej Times. In the Al Barsha complex, it plans to construct a stand-alone hotel in half a kilometer from the complex.
"There are billion of dollars worth of construction, infrastructure and airport development currently taking place in the region, due mainly to the current boom," said Jassim Mohammed Abdul Rahim Al Ali, Chief Executive Officer of API H&R.
"The hotel market should not only keep pace, but also offer customers a varied choice of accommodation," he pointed out.
The four-star property Novotel Barsha, which is part of the Al Barsha complex, will be located on the front line of Shaikh Zayed Road. The 34 storey-hotel will feature 437 rooms and 90 serviced apartments. A stand-alone three-star hotel in the same area, the Ibis Barsha, will have six storeys with 480 rooms.
Construction of both hotels is scheduled for some time in 2008.
© 2006 Mena Report (www.menareport.com)
