UAE hotel industry on a roll for one of its busiest periods, with the country's hotel construction pipeline forecast to peak in 2017, and experts noting that the momentum will carry over into 2018.
According to the Ventures GCC Hotel Market Overview, the value of the GCC hotel sector's projects expected to be completed in 2017 is worth $9.51 billion - an increase of $8.24 billion over 2016. The growth is driven by a robust pipeline of hotel construction projects. The UAE demonstrates the largest market in terms of construction projects lined up for completion, followed by Saudi Arabia and Qatar.
The report found that at $4.05 billion, the UAE is likely to take the lead in expected projects to be completed in 2017, followed by Saudi Arabia at $3.32 billion and Qatar at $1.04 billion.
The UAE's hotel construction pipeline is forecast to peak in 2017 and 2018 as the country gears up for the Expo 2020. Experts forecast 2017 and 2018 to be the busiest years, with 56 project openings in 2017 and 58 openings in 2018. Dubai and Abu Dhabi will continue to lead in hotel construction across the UAE. In the hotels sector, a further 28,900 rooms are predicted to be delivered in Dubai over the next two years as capacity expands in the run-up to the event.
The hotels market is expected to pick up pace, with three-and four-star hotels likely to compete with the luxury hotel segment. With a slew of new hotel projects, refurbishment of existing structures has gained prominence. Many property owners and hotel operators see the value in refurbishing their assets to stay up-to-date and be able to compete with new hotel rooms coming to the market, especially in the lead up to important events, such as Expo 2020 and the Fifa World Cup 2022.
Vice-president of development at Shaza Hotels, noted that intra-regional travel between GCC countries is increasing, with families preferring to take shorter and more frequent holidays, and hence looking for leisure destinations in the region. Dubai, he said, has clearly established itself as the leader in terms of family holidays, but it is facing more and more competition from neighbouring destinations such as Ras Al Khaimah, Muscat and Salalah.
"Shaza Hotels is focusing on the GCC family market, be it in the resort or city hotel segment, and we are opening this year's hotels in three of these destinations. It is also important to look at the domestic Saudi market, which is travelling more frequently now within the country. This has created opportunities.
"Dubai experienced an increase across all KPIs, including the highest RevPAR of $273, an increase of 18.7 per cent when compared to last year. Dubai also saw the highest occupancy in April at 88 per cent and the highest average room rate of $310," said Yousef Wahbah, Mena head of transaction real estate at EY. "Abu Dhabi's hospitality market witnessed a drop in RevPAR by 4.8 per cent in April 2017, which can be attributed to the drop in ADR from $133 in April 2016 to $120 in April 2017. However, occupancy increased by 4.5 per cent in April 2017 when compared to the same month last year."
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ABROAD STUDY:ABROAD WORK VISA: Experts hail Dubai law on student part-time work visa. new part-time student work regulation has strengthened the emirate’s reputation as a leading international education hub, experts said.
The regulation is a significant milestone that aligns with the UAE’s Vision 2021, which has articulated the setting up of a competitive knowledge economy. The Student Part-time Work Regulation will ensure a volume of qualified and work-ready young professionals by allowing creative talent to gain critical industry experience to complement their fields of study and increase their employment prospects post-graduation, they felt.
The fifth edition of the Industry and University Partnership Forum (I-UP Forum), hosted by Dubai International Academic City (DIAC) and Dubai Knowledge Park (DKP), gathered leading educators, industry experts and key stakeholders in Dubai to discuss the impact of the new part-time student work regulation issued by Dubai Creative Clusters Authority (DCCA), including ways to strengthen Dubai’s position as an international education hub to a growing transnational student sector.
The forum, an education dialogue titled “The Part-Time Student Work Policy – Supporting homegrown talent and equipping our youth with the skills to succeed in the workplace”was attended by experts and professionals from universities, industries, and government departments
“Several knowledge hubs in North America and Europe already allow students to work while they study. Not only does this initiative further move Dubai towards becoming a global education powerhouse, it is also proof of the UAE’s commitment to transition into an innovative economy by equipping students with the knowledge and skills needed to develop and succeed.”
The new regulation has been introduced at a time when studies have proven how work enhances the creative and innovative capacities of young people, qualities that are highly valuable to the creative industries. It has also been validated that youth contribution is a key measure in addition to innovation and labor efficiency that impacts a nation’s competitiveness.
“The new regulation has the potential to bring about many economic and societal benefits. What is key, however, is the creation of holistic partnerships and strong synergies between government, businesses, and universities to maximize its success,” said by expert
Prior to the establishment of the part-time work regulation, students in Dubai were unable to secure employment while studying, lacking vital workplace experience and skills needed to keep up with the fast-changing job market. By connecting the higher education and industry sectors, the student experience has been enriched through exposure to real-world experiences such as forming professional relationships at an early stage, ultimately increasing their chances of full-time employment after graduation. Most importantly, part-time work inculcates a sense of responsibility and self-reliance, by providing students with the opportunity to support themselves financially. TradeArabia News Service
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"A foreign degree may not guarantee you fame and money like the people mentioned in this list but it is sure to teach you a lot of good things and the ability to live independently. "
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Studying abroad may be one of the most beneficial experiences for a college student. By studying abroad, students have the opportunity to study in a foreign nation and take in the allure and culture of a new land. Here is a list of the top 10 reasons to study abroad!
1. See the World