Shuraa bids on Four star projects in Dubai
The reliability in growth and the business avenues among the four-star properties around Dubai along with the profitable outcomes have sustained in the market since 2008. Pooling such investments, Saeed Khalifa Mohammad Al Fuqaei of Shuraa Group is all set to bid on such four-star projects in the region.
Speaking to Gulf News, Mr. Saeed Khalifa Mohammad Al Fuqaei said, “Investments under the sector of hospitality provides attractive yields compared to restaurants or supermarket, moreover, the government is also providing incentives for developers until 2019-2020.”
Mr. Saeed Khalifa Mohammad Al Fuqaei, who had built a property under a joint-venture in a prominent location at Bur Dubai, intends to do it solely. Although he wants to build and not own it. He said, “We have two upcoming projects, one in Jaddaf and another at Jumeriah Village Triangle, while Jaddaf is at an exit stage.
Adding to the details, he said, “The benefit of such investments is that cities converting into mid-tier hospitality sectors and mix-use communities offer benefiting asset options. Whereas, with a ready infrastructure at hand, the latter yields higher premium.