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
 Apr 29 2017 - Bangladesh- Emirates Wins Best Airline Worldwide at the 2017 Business Traveller AwardsBangladesh Monitor
(MENAFN - Bangladesh Monitor) Dhaka : Emirates won four accolades including Best Airline Worldwide at the ‎Business Traveller Middle East 2017 Awards held on April 23. At a ceremony attended by key ...

 Apr 29 2017 - Bangladesh- Qatar Airways to launch 26 new destinations in a yearBangladesh Monitor
(MENAFN - Bangladesh Monitor) Dhaka : Qatar Airways CEO Akbar Al Baker has announced plans for start flying to 26 new destinations this financial year and this, he described as a record, for any ...

 Apr 29 2017 - Big 3 Middle Eastern airlines tackle US ban by lending laptopsBangladesh Monitor
(MENAFN - Bangladesh Monitor) Dubai : Airlines have become creative in tackling the ban on electronic devices imposed by United States. Complimen-tary laptops are being loaned out to passengers of ...

 Apr 29 2017 - Nairobi in the network of Oman AirBangladesh Monitor
(MENAFN - Bangladesh Monitor) Muscat : The Oman Air has launched 4-times a week Muscat-Nairobi flights. The flights will leave every Monday, Tuesday, Thursday, and Saturday at 1450 hours local time ...

 Apr 29 2017 - Three new A380 destinations, in three continents, in one day by EmiratesBangladesh Monitor
(MENAFN - Bangladesh Monitor) Dubai : Emirates has recently celebrated the launch of three A380 destinations, bringing its flagship three-class double-decker aircraft from to Tokyo- Narita, ...

 Apr 29 2017 - Time to promote Bangladesh as Muslim friendly destinationBangladesh Monitor
(MENAFN - Bangladesh Monitor) Dhaka : Speakers at a seminar on "Emergence of Halal Tourism: How Bangladesh can benefit" at Pan Pacific Sonargaon on April 1, held on the sidelines of US-Bangla Travel ...

 Apr 29 2017 - US visa shouldn't be a problem for Bangladeshis if basics are clearBangladesh Monitor
(MENAFN - Bangladesh Monitor) Dhaka : US visa should not be a problem for Bangladeshis. The basics must be clear. With the right profile, good travel history and good educational background, it ...

 Apr 29 2017 - US-Bangla Airlines flies to Bangkok from May 3Bangladesh Monitor
(MENAFN - Bangladesh Monitor) Dhaka : The leading private sector carrier of the country US-Bangla Airlines will expand its international network with the introduction of four weekly flights to ...

 Apr 29 2017 - Cairo Wedding Festival season 2: bringing bridal dreams to lifeDaily News Egypt
(MENAFN - Daily News Egypt) Weddings are a life-long dream for many people around the country. The long-anticipated night includes an endless number of details and necessities that future brides and ...

 Apr 29 2017 - Egypt- 8th season of Fashion EvolutionDaily News Egypt
(MENAFN - Daily News Egypt) Cairo Fashion Festival (CFF), in collaboration with Cairo Festival City Mall (CFCM), is back this April—brought to you by 'selfie expert Oppo camera phone'—celebrating the ...

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