Flora plans $204m property expansion in Dubai
Dubai, December 19, 2013
Flora Hospitality, a leading hospitality brand in the UAE and India, plans to establish four new properties with an investment of more than Dh750 million ($204 million) between 2014 and 2016 in Dubai.
With currently seven hotels and hotel apartments open in the UAE, it is one of the region's fastest growing hospitality industry players that caters for discerning travelers with a mix of modernity and a unique sense of Arabian hospitality.
Flora Hospitality has selected prestigious locations in Dubai for its new hotel projects and expects to be able to offer a portfolio in Dubai of at least 11 hotels by 2016, increasing its total inventory from over 780 rooms to more than 1,700.
The expansion plan includes a Dh400 million investment on a luxury property project at the Dubai downtown in Burj Khalifa Master Community, offering fully serviced apartments with world-class facilities and will be a premium accommodation choice for both business and leisure travelers.
Construction begins on the site this year and the hotel is expected to be completed in the last quarter of 2016.
Furthermore, two other four-star properties of 186 and 272 rooms will take place in strategic locations; at Al Barsha close to the Mall of the Emirates and in Al Garhoud close to Dubai International Airport.
Both projects are, respectively, engaging an investment of Dh150 million and Dh200million and are expected to open by end of 2016.
The Flora Hospitality network continues to grow covering the lodging sector from luxurious full-service hotels and hotel apartments as well as mid-priced hotels and will include another brand new property of 90 rooms well set to cater to Dubai's fast growing business travel in Al Baniyas district in Deira.
“Dubai's hospitality sector has been recording a strong growth rate and promises continued expansion thanks to the decision to award the city the right to host the Expo 2020,” said V A Hassan, chairman & CEO of Flora Hospitality. "Thanks to Dubai's leadership support to the Tourism industry, the city continues to offer great opportunities for investment."
"With our properties reaching above-market average occupancy rates of 87 per cent, it is our aim to aggressively expand our portfolio over the next three years. We aim to become a leading local hotel chain in the region, based on our unique sense of traditional Arabian hospitality, culture and values combined with outstanding customer service." said Firosh Kalam, group managing director, Flora Hospitality. – TradeArabia News Service