DUBAI, 12 February 2004 — Dubai’s tourism and hospitality sector expects an estimated 18 billion UAE dirhams investment in Dubailand, the Middle East’s biggest theme park, to result in about 200,000 visitors a day.
“This growth in inbound business will see tourism play an
even greater role in the UAE’s GDP growth, with experts predicting a rise from 12 percent to 20 percent thanks to an estimated 15 million tourists a year by 2010,” Salem ibn Dasmal, CEO of Dubai Tourism Development Company (DTDC), Dubailand project’s management company, said.
Dubailand, which includes many different tourist facilities, is the city’s biggest tourism development project.
According to Dasmal, who was addressing members of the UAE chapter of the industry body Hotel & Catering International Management Association (HCIMA), the investment in Dubailand will be pivotal to the next wave of growth for tourism.
The drive for inward investment will work toward the further development of Dubai’s non-oil income, he explained.
Dasmal said: “Our overriding aim is to create an ideal city, against world benchmarks, that will become the ultimate leisure and entertainment destination between Hong Kong and Paris.”
While the eventual 100 percent private investment in Dubailand is deemed critical to promote the flow of funds into the emirate, Dasmal acknowledged that DTDC would only sign up investors that would protect the overall vision. “Our objective is to involve the private sector but we will minimize the risk involved with this loss of overall control, to ensure all investors buy into the philosophy of Dubailand.
“We will not create opportunities for opportunity’s sake, especially in the real estate sector: development will only occur if it creates significant value to Dubai.”
The conception of Dubailand follows extensive tourism sector research in Europe, Asia and around the GCC. “We like to see it as a cross between Las Vegas and Orlando, and the projects have been designed to meet the needs of our targeted 15 million visitors by 2010. “At first glance, it looks as though Dubai is growing at a speed that means supply could outweigh demand - but a decade ago, nobody believed we could achieve today’s figures of 5 million tourists a year.
Meanwhile, a $750 million Aqua Dubai water resort has been planned as part of the Dubailand project. The DTDC and the Dubai-based Al-Sharq Group of Investment have signed an agreement to construct the resort.
The 2.7 million sq. ft. resort is expected to fuel demand for the Middle East’s Amusement and Leisure Expo being held at the Dubai International Exhibition Center from April 27-29. “It’ll be the largest water resort in the region,” Mohammed Falaknaz, vice president of International Expo-Consults, said.