By Market Research Abu Dhabi | Posted March 28, 2019
Abu Dhabi has reduced tourism-related fees and accelerated its investment in tourism as strategic initiatives to further boost investment in the sector. the department of Culture and Tourism (DCT) said that the tourism fees has been reduced from 6% to 3.5%, municipal fees from 4% to 2% and municipality hotel room fees per night from 15 dirhams to 10 dirhams. The tourism and municipality fee reductions are estimated to increase available capital for hotels by AED 1 billion over the next three years
In line with “Ghadan 21” ambition to make Abu Dhabi one of the best places in the world to do business, live, invest, work and visit. The recent initiatives have been designed to improve the value proposition of the emirate and make it the destination of choice for travellers and spur of tourism investment. The capital of the United Arab Emirates (UAE) is also investing billions of dollars in tourism industry to diversify its economy away from oil sector.
DCT Abu Dhabi will directly invest AED 500 million, comes after Abu Dhabi achieved a record number of visitors and hotel guest in 2018. During the first eight months of 2019, hotels in Abu Dhabi received 1,323,239 visitors, an increase of 5.85 compared to the previous year. The emirate’s 162 hotels, resorts and hotel apartments also received 477,606 visitors in August, an increase of 45,000 compared to the same month in 2017.
Al Qana, a new dining and entertainment destination will open in Abu Dhabi at the end of 2020. The waterfront tourist destination is located in the historic natural Khor Al Maqta, close to Sheikh Zayed grand Mosque. The construction is planned to open in the final quarter of 2020 and promises to offer visitors an ‘unparalleled modern lifestyle experience’. The area of 2.4 km will include a range of attractions, including the Middle East’s largest aquarium, a VR park, dining outlets, as well as outdoor skatepark and cinema.
The Managing Director of developer Barakah International Investment (BII), Moataz Mashal, said that this new landmark destination will play a key role in supporting the government to realise its Saudi Vision 2030. Through exciting dining destinations and convenient facilities and being an attractive place for tourists to visit, Al Qana will offer a new lifestyle for residents.
Along with Al Qana project, Warner Bros Abu Dhabi is most likely to benefit from the development of the emirate’s strategic initiatives. Warner bros World Abu dhabi is estimated to be worth USD 1 billion, based in Abu Dhabi’s leisure destination, Yas island. the 1.65 million sqf park added nearly 30 more rides to the island, including the grand batman; knight flight, which allows visitors to experience flying in the Batwing.
The park consists of six expertly designed lands to explore, including DC’s Metropolis and Gotham City, Bedrock Dynamite Gulch, Cartoon Junction and Warner Bros Plaza. Warner Bros theme park also provides an incredible range of dining experiences, from grab-and-go eateries to full-services restaurants and cafes, as well as custom-designed shops featuring bespoke Warner Bros merchandise.
Another tourist destination project that is being constructed and benefited from the Emirate’s initiatives in Reem Mall. Al Farwaniya Property Developments, a partnership between United Projects for Aviation Services (UPAC) and a Kuwaiti firms National Real Estate Company (NREC), agreed a USD 224 million investment into the project. The foundation stone of the mall was set for USD 1.2 billion in May 2018. Located in the Najmat district on Reem Island, which upon full completion, is expected to have a population of 200,000 people, the new mall will comprise more than 450 retail brands, dining options and entertainment concepts, including Snow park Abu Dhabi. In addition, Reem Mall will bring vital infrastructure and improved connectivity.
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