Dubai Theme Parks to be Magnet for Tourists in 2017
In preparation for the World Expo to be hosted by the Emirate in 2020, Dubai has been pouring investment into its tourist infrastructure with the aim of attracting more than 25 million tourists in five years’ time.
There are currently three theme parks under construction that are expected to drive Dubai’s tourism towards its target when they open at the end of 2016. The theme parks are: Motiongate a Hollywood-inspired attraction based on major DreamWorks Animation and Sony Pictures movies; Legoland Dubai, the first legoland theme park in the Middle East and Bollywood Parks, offering a Bollywood movie experience.
Timeshare companies are particularly buoyant about the prospects for Dubai’s tourist sector, expecting growth in its timeshare industry of around 50% in 2017, once the parks are open to visitors.
Mohannad Sharafuddin of timeshare sales and marketing company Arabian Falcon Holidays said: “Dubai Parks and Resorts, the operator of Middle East’s largest multi-themed leisure and entertainment destination expects over 6.7 million ticketed visitors in 2017. That’s a huge number in the first year and will aid in the growth of the timeshare market here”.
“The timeshare market will grow exponentially in 2017, surpassing the growth rates of 15 to 20% per year and heralding a new era with annual growth rate of 50%, primarily driven by tourists visiting these theme parks,” he added.
All three parks are located close to Dubai’s international airport, Al Maktoum and will be easily accessible from there via the Emirate’s Metro system. Real estate in Dubai is also expected to enjoy rising interest as a direct result of growth in its tourist numbers over the next five years and beyond.
Further large-scale investment has been made into the construction of the €6.2bn Mall of the World by Dubai Holding. The mall is set to be the largest in the world, featuring a glass-domed theme park and expected to be a significant attraction for visitors in the Emirate.
“Dubai’s location, significant existing attractions and strong tourism infrastructure position it well to benefit from anticipated strong tourism growth in the Middle East,” Sharafuddin said.
Dubai presents a great opportunity for strategic property investment ahead of the World Expo in 2020. As part of the Emirates spending programme in tourism, the hotel sector is growing rapidly representing a very attractive investment market at the current time for those interested in income-generating property assets such as hotel rooms.
Article by +Roxanne James on behalf of Propertyshowrooms.com
