DUBAI, 28 October 2003 — The Dubai Development and Investment Authority (DDIA) has announced the launch of “Dubai Tourism Development Company” to manage the various projects of Dubailand — the first and biggest project for family tourism in the Middle East.
Mohammed Al-Gergawi, DDIA chairman said: “The new company, as part of DDIA, will provide “single-window” services for investors and project executers. It will ensure a developed infrastructure that is supported with quality services. This will highlight the commitment of the government to provide a supporting environment for the prosperity of businesses, and allow at the same time investment opportunities within an active sector with high potential.”
Al-Gergawi added “Sheikh Mohammed ibn Rashid Al-Maktoum, crown prince of Dubai and UAE minster of defence, directed through his continuous follow-up of Dubailand project, the provision of all facilities needed for investors in the project that has gained so much attention since its announcement at the end of last week.”
He also added that “the new company is expected to have a dynamic role in the growth and prosperity of the tourism sector, not only by managing Dubailand, but also by identifying and promoting available investment opportunities and executing agreements and deals about select programs.
“The project has diverse and unique attractions to cater to all the requirements of all members of a family. The company will make the project a center for tourists from all around the region and the world.”
Al-Gergawi added “the tourism sector is considered to be one of the most attractive for investors, not only in the country and the region, but on an international level too. The strong growth in the number of tourists will contribute towards establishing projects with high rates of returns that exceed returns from other sectors”.
He pointed out that growth rates in the number of tourists that came to Dubai in the past few years have strengthened the revenues of various tourism and hotel projects despite the high rate of increase in the number of projects within the two sectors.
The DDIA chairman clarified that different projects that are included in Dubailand, which is expected to welcome millions of visitors yearly, will benefit from the potential of growth in the local tourism sector.
Dubailand will include seven main divisions complementing each other to form a complex that is huge and diverse and relatively competitive with other internationally recognized projects. It will be an attractive destination for families and individuals.