16 Rabi' I 1445 - 1 October 2023
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Eye of Riyadh
Business & Money | Friday 5 May, 2023 4:04 pm |

Azizi Developments announces AED 60 billion hospitality investment plan

The leading developer is planning to spend up to AED 60 billion over the next 5 years through the launch of 50+ hotels, which it will operate itself


Azizi Developments, a leading private developer in the UAE, has just announced its plans to invest up to AED 60 billion through the launch of 50 upmarket, luxury hotels and resorts and one very prestigious seven-star hotel in Dubai. As such, the developer will add close to 20,000 new keys to Dubai’s hotel stock over the next five years. Azizi’s hotels and resorts in the UAE and beyond will be managed by its very own hospitality division. 


While coinciding with 30th edition of the Arabian Travel Market, the region’s leading event for the inbound and outbound travel industry and biggest gathering of its kind, the announcement also follows Azizi’s recently revealed plans to enter the hospitality sector, with its new Chief Operating Officer - Hospitality, Mr. Michael Zager, leading the developer’s newly established hospitality division. Azizi’s hospitality investment plan also comes in light of Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, having announced the UAE’s target to reach 40 million visitors and increase the tourism sector’s GDP contribution to AED 450 billion within 7 years. 


Mr. Mirwais Azizi,Founder and Chairman of Azizi Developments



Azizi has already acquired most of the necessary plots of land for its hotels and is planning to launch the construction before the end of 2023. 


Founder and Chairman of Azizi Developments, Mr. Mirwais Azizi, commented: “With the UAE’s Tourism Strategy 2031 aiming to leverage public-private partnerships and seeking to attract over AED 100 billion in new investment in the tourism sector, we have decided to make a major investment in the hospitality sector. With the investment of AED 60 billion over the course of the next five years, we aim to become a major part of Dubai's promising future as a global hub for tourism.”


“We are inspired by the vision and leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai, and it is always a source of pride for us to contribute to his plans for Dubai and the UAE”, he continued. 


Azizi will showcase its upcoming hospitality projects to its stakeholders across the globe in the coming months. The developer’s Sales Gallery can be visited on the 13th floor of the Conrad Hotel on Sheikh Zayed Road.


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