Al-Basri: Activities and festivals instrumental in promoting tourism sector in Dubai

Kuwait, 11 October, 2009- The hotel sector in Dubai witnessed notable growth since the beginning of the current year. This was a natural outcome of the activities that target the development of tourism sector, coupled with the success of the activities of Dubai Summer Surprises Festival that ended its program recently, and which is the event that attracts families owing to the diversity of its activities that suit various age groups. This festival is considered as one of the important events that significantly contribute to increasing the number of tourists arriving in Dubai, in addition to attracting visitors from within and outside the United Arab Emirates.

Commenting on this issue, Abyaar Chief Executive Officer Hussain Al-Basri said that Radisson Blu Dubai Marina Hotel - one of Abyaar-owned hotels, opened in May 2008 with its 20 floors building, consisting of 152 luxurious units comprising 22 studios and 130 suits with one bedroom and two bedrooms, posted positive results during the summer season, as the occupancy rate reached to more than 80%, and forecasting above 92% for the coming high season. He confirmed that the ratio of the hotel visitors from the United Arab Emirates reached 50%, while the ratio of tourists from the GCC countries rose to 30%, with the remaining number of visitors being distributed among other nationalities.

Al-Basri affirmed that the majority of the guests were families' category that has come to prefer internal tourism in the GCC countries, as the attractive offers launched by Dubai hotels significantly contributed to changing the conception that Dubai hotel prices are high, leading to the flow of more GCC families to the Emirate.

Regarding the rise of the occupancy ratio, Al-Basri said that this increase is due to the fact that the majority of GCC families choose Dubai as their shopping destination. He explained that this rise was expected since a while, particularly that the early reservations by some GCC nationalities were indicating the rise of demand, in addition to immediate reservations.

Abyaar CEO commended the role played by the events and festivals in activating the tourism and hospitality sector in Dubai during the summer season, through its recreational activities and offers that attract GCC families. Therefore, hotels cannot succeed apart from the success of this package. He clarified that all of these activities were one of the reasons for attracting more tourists this year.

Concluding his statement, Al-Basri thanked the former general manager of Radisson Blu Dubai Marina Hotel Cornelia Erhardt, who was the first woman to occupy the position of general manager in the Middle East for Rezidor Hotel Group, and whose role was instrumental in achieving these excellent results. He also welcomed the new general manager Khamis Kazzaz and wished him success in his new functions.

-Ends-

About Abyaar:
Abyaar Real Estate Development is a major real estate developer operating across the Middle East region, and providing high quality real estate properties renowned for their modern designs and selected prime locations. The company's vision is to develop boutique, contemporary destinations differentiated through exceptional quality, and contributing to raising the standards of lifestyle. The Company operates in compliance with the principles of Islamic Shari'a.

Originally established in 2002 as a limited liability company, Abyaar's legal status was changed in 2005 into a shareholding company with a capital of KD 35 million, pursuant to a strategic partnership between Kuwait's Aayan Leasing and Investment Company and Al Rashdan Group. The list of major shareholders in Abyaar includes other prominent names in the world of real estate and investment, such as Al-Khorafi Group, Al-Muthnna Investment Company and Wafra Investment Company.  Through this partnership, Abyaar demonstrates firm commitment to raising the benchmark for the real estate sector across the Gulf markets.

Abyaar develops residential, commercial, retail and hospitality projects, using accomplished external and interior architects to create an unparalleled boutique product.

Listed on the Kuwait Stock Exchange in 2007, the Company's capital was raised from KD 48 million to KD 53 million in 2008, and then to KD 106 million in 2009.

Khaled Al-Sayer
Corporate Communications Manager
Abyaar Real Estate development
Tel: +965 22996500
Fax: +965 22996501
Mobile: +965 99680222
Email: k.alsayer@abyaar.com
www.abyaar.com

© Press Release 2009