Al Ruwad Real Estate Consultants have announced the launch of eight plots in the Al Jaddaf area for investors in the hospitality industry.

The 250,000 sq ft plots of land are being allocated for 3 and 4 star hotel projects, with over 2,200 hotel rooms.

Preliminary approvals from the concerned authorities have been already obtained, said a senior compaany official.

This move comes after Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai, approved "Dubai's new Tourism Vision for 2020", which aims at attracting over 20 million visitors annually by 2020, trebling sector’s contribution to the emirate’s economy to almost Dh300 billion.

Al Ruwad managing director, Ismail Al Hammadi stressed that the launch reflects the effective input of one of the national establishments whose strategy is based on the vision of Dubai’s wise leadership.

By launching well-planned projects based on the market trends and data, Al Ruwad strives to help translate this vision into facts and figures, and work out a real estate formula that is able to create balance between the vision and revenue.

"Investing in the hospitality sector by launching 3-4 star hotels is not a random choice, but based on studies and extensive analyses, stressing that the latest studies by Bloomberg indicated that Dubai ranked world’s second city on the list of the most expensive hotel rooms, which requires finding other low cost options while maintaining the excellence that Dubai charted for itself in this area," remarked Al Hammadi.

On the Al Jaddaf plots selection, Al Hammadi said: "As part of our many initiatives, we want to open the door for investors and economic activities of the small and medium enterprises to take an energetic role in the promotion of the real estate scene. As for the Al Jaddaf area, I say why not Al Jaddaf, it is the meeting point of the two parts of Dubai Creek, Deira and Bur Dubai, and reflects the heritage attractiveness with its new semblance."

The strategic position in the heart of Dubai, Al Jaddaf is located west of Dubai and is bordered by the Dubai Creek, Zabeel, Um Hurair 2, and within the vicinity of Dubai Mall, Boulevard Mohammed bin Rashid, Burj Khalifa, which attracted more than 65 million visitors last year, exceeding the number of visitors to New York City.
 
The Al Jaddaf area is also located within the proximity of “Dubai Design District” – the upcoming home for design, fashion and luxury  including creative community, waterfront, residential, offices, museum, academy & beach club  is operated by Tecom Investments, a member of Dubai Holding, which has an impressive track record in creating, operating and growing successful industry focused business parks in Dubai.-, and  “Meydan”- the true mark of excellence for commercial, residential and mixed use real estate is also home for five months of world class thoroughbred horse racing,- as well as Al Wasl Sports Club.

The Al Jaddaf plots are also positioned  near “Wafi City”, - a mixed-use development in Dubai, which includes a mall, hotel, restaurants and residences, “ Dubai Healthcare City” –a hub for health care, medical education and research -, “Culture Village” - a multi-purpose development project, located along the shoreline of the Dubai creek on a 40,000,000-sq ft plot of land.

The centrepiece of this project is Palazzo Versace Dubai, the world's second after Palazzo Versace of Queensland, Australia.-TradeArabia News Service