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Middle East Investments hit $3.6 trillion

According to a study done by Fast Future and Global Futures, investments in hotels, leisure projects, aviation development, cruise liners, tourism promotion and support infrastructure in the Middle East has reached Dh13.33 trillion ($3.63 trillion).

The research also found that plans to invest at least Dh2.13 trillion ($580 billion) in over 900 hotels across the region from Syria to Oman. Projected construction costs for recent announcements from more than 72 developers, investors and operators varying from Dh36,727 ($10,000) to Dh21 million ($5.71 million) per room.

"In order to make good investment decisions, reliable data on the industry's future direction is critical," said Ibrahim Mardam Bey, CEO of Siraj Capital, sponsor and founding shareholder of the Dh985-million hospitality and investment firm Rahala, in Saudi Arabia. "This is why we are backing this groundbreaking study."

The study covers 13 countries in the Middle East up to the 2020 period and is to be published in full during the Hotel Show 2008, on June 8-10 at the Dubai International Convention and Exhibition Centre, a statement said. The event is the region's leading supplies exhibition dedicated to the hospitality sector.

Dubai Property News

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