• Home
• /
• Local business

Financial Crunch may Slow Some Tourism Projects

“But that does not mean these projects will be closed,” said Ahmed Hussein deputy director-general of Abu Dhabi Tourism Authority, in an interview with Khaleej Times on Thursday.

The deputy director-general said since Abu Dhabi is developing its tourism projects in partnership with the private sector, the effects of financial squeeze might be felt.

Construction works are going at full pace at the Saadiyat Island — a mega tourism development project — which will draw a total investment of Dh100 billion once completed in 
three phases by 2018.

Saadiyat Island which is being developed as a tourism destination, will have 29-hotels with a capacity of 7,000 rooms, three marinas with berthing for 1,000 vessels, over 8,000 private villas, resorts set on white sand beaches and two golf courses.

It will also have over 38,000 apartments and eight iconic ‘string of pearl’ architectural landmarks housing museums, a concert hall, an art gallery and major cultural offerings 
to attract tourists.

Construction work on Guggenheim Abu Dhabi Museum, Louvre and the Shaikh Zayed National Museum are scheduled for the third quarter of this year, as their designs have 
been finalised.

Hussein was satisfied with the construction activities on the sites when he inspected the flagship tourism project last week. “The construction activity is on track, he said. The authority has no major announcements to make this year as far as development of tourism projects are concerned, he said.

“We have deadlines for the under construction projects to be delivered which were announced in the last couple of 
years,” he said.

Abu Dhabi, which is focusing on its enormous potential to become a centre for global business, trade, besides business tourism, exhibitions, conferences apart from a posh leisure hotspot, has created an additional demand 
for hotel rooms.

“To meet this rising demand, eleven hotels are under construction in the private as well as public sector which will create about 3000-rooms by the year end meet the demand-supply gap,” he added. Next year, Abu Dhabi Tourism Authority expects to add another 3500 rooms as construction works on several hotels have already started. Abu Dhabi has created 20-world class sports, entertainment and tourism events to make the emirate an attraction in the region to divert upscale tourists.

· haseebhaider@khaleejtimes.com