Emaar plans to build 10 hotels in King Abdullah Economic City, seeks partners, CEO

05/05/2014 Argaam

Emaar the Economic City plans to build 10 hotels in King Abdullah Economic City (KAEC) in the next 6 years as the company seeks to capitalize on KAEC’s tourism potential, Emaar’s CEO Fahd al-Rashid said on the sidelines of Arabian Hotel Investment conference in Dubai.

 

Emaar will build 4 hotels and will partner with international companies to build the remaining 6. The total capacity of the hotels are 2000 rooms, he said. The company will announce the names of two partners within 2 months, he added.

 

Demand for hotel nights is expected to grow to 550,000 nights in 2020 from 71,000 in 2014, he said. KAEC has only one hotel, Bay La Sun Hotel & Marina, he added. 

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