Dubai’s hotel and tourism industry fuels the emirates' fastest expansion in five years
Skift Take
Investors already bullish on real estate growth in Dubai are jumping to invest, especially in projects like the newly announced luxury hotels headed by Emaar, the developer of the world’s tallest tower. Will things end differently this time around?
Dubai stocks rallied to the highest level in more than three years as Emaar Properties PJSC’s new hotel project fueled bets revenue of the developer of the world’s tallest skyscraper will grow this year.
Emaar surged 4.6 percent after the company said it would build two luxury hotel and serviced apartment towers in central Dubai. Arabtec Holding Co., the largest United Arab Emirates builder by market value, rose to the highest level in almost three weeks. The benchmark DFM General Index gained 1.2 percent to 1,945.95, the strongest close since November 2009.
“The assumption is that with growing
