Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Qatar- High land prices deter investors in hospitality  Join our daily free Newsletter

MENAFN - The Peninsula - 19/05/2014
No. of Ratings : 0
Add to Mixx!


(MENAFN - The Peninsula) A significant rise in the prices of plots of land over the last several years has pushed potential investors in the hospitality sector on back foot. Experts from the industry seek government intervention to curb on the unprecedented hike in the prices of land properties, which is discouraging fresh investors due to low rate of returns.

"Massive investments in the hospitality sector have pushed the prices of land properties skyrocketing. As a result, a huge chunk of capital (up to 70 percent) goes to pay for the land alone, which is discouraging fresh investments in the sector," Abdulaziz Al Emadi, a Qatari businessman was quoted by a local Arabic daily as saying, yesterday.

Al Emadi, highlighting the low rate of expected return on investment, said: "There is a kind of race among the businessmen to own a hotel or a luxury property which has caused the expected rate of retrn on investment very dicey. At times, it may take more than a decade to recover the invested capital in the hospitality industry."


He said that aiming at developing and promoting a vibrant hospitality and tourism industry by attracting private investments in the sector, government should intervene and provide some sort of incentives and relief. However, he noted that the government, in line with the National Development Strategy 2011-16 and Qatar National Vision 2030, is striving to achieve economic diversification by encouraging private investments in the sector, but more needs to be done to safeguard the interests of private investors.

"Most of the investments in the hospitality industry are taking place in building 5-Star hotels and resorts, but it is equally important to develop a significant number of budget-hotels to provide tourists and guests a wide range of options," added Al Emadi.

 


The Peninsula




  MENA News Headlines
 Dec 10 2016 - Saudi Oger debt plan hit by other creditor court movesMENAFN
(MENAFN) Sources said Saudi Oger's attempt to restructure around 13 billion riyals (USD3.5 billion) in debts have been dealt another blow after a second major creditor obtained a court order ...

 Dec 10 2016 - Qatar�s Dukhan project to be completed 95%MENAFN
(MENAFN) The Public Works Authority (Ashghal) announced completion of 95% of the project, the Dukhan Highway Central project will partly open to traffic from tomorrow, providing one-way exit to the ...

 Dec 10 2016 - Jordan to launch anti-corruption strategy for 2017-2025MENAFN
(MENAFN) According to the Jordan News Agency, Petra, Jordanian Prime Minister launched the "National Strategy for Integrity and Anti-Corruption 2017-2025", in pursuit of a national environment where ...

 Dec 10 2016 - Death of five in car crash: Court sentences three year jail and fineGulf Times
(MENAFN - Gulf Times) A Doha Criminal Court has sentenced a young man to three years in jail and imposed a fine of QR18,000 on him for reckless driving without a valid driving license, causing the ...

 Dec 10 2016 - Boating, water sports enthusiasts flock to QIBSGulf Times
(MENAFN - Gulf Times) The 2016 Qatar International Boat Show (QIBS'16), which concludes on Saturday, has been attracting both boating and water sports enthusiasts with a range of luxury boats, yachts ...

 Dec 10 2016 - Enter the winter: Room heaters, warm clothing sales pick upGulf Times
(MENAFN - Gulf Times) The demand for winter clothes and room heaters has started picking up in stores and hypermarkets as Qatar's residents start to feel the chill, especially at night, it is learnt. ...

 Dec 10 2016 - Qatar- HBKU to host information sessions for graduate studentsGulf Times
(MENAFN - Gulf Times) Hamad Bin Khalifa University (HBKU) will host a series of information sessions across its colleges from tomorrow until December 14. The graduate information sessions will ...

 Dec 10 2016 - Qatar- Strong winds, low visibility on SaturdayGulf Times
(MENAFN - Gulf Times) Strong winds are expected in most parts of the country on Saturday along with low visibility in some places and a cold night, the Qatar Met department has said. The weather ...

 Dec 10 2016 - Al-Muraikhi made UN humanitarian envoyGulf Times
(MENAFN - Gulf Times) Al-Muraikhi made UN humanitarian envoy QNA/New York UN Secretary General Ban Ki-moon on Thursday announced the appointment of Dr Ahmed bin Mohammed al-Muraikhi of Qatar as his ...

 Dec 10 2016 - Iraqi artist honoured at QCUK-sponsored awards ceremonyGulf Times
(MENAFN - Gulf Times) Qatar Charity UK (QCUK) was a title sponsor of Arab Women of the Year 2016, which honoured high achievers across a wide range of categories, including business, leadership, law, ...

more...


 





Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Search News
Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help