Azizi Developments confirmed a hospitality division at ATM with an impressive pipeline
Dubai developer Azizi is planning to invest AED60 billion (US$16.3 billion) in its new hospitality division, opening 50 hotels along the way. Of those, the group is planning “one very prestigious seven-star hotel” in Dubai.
The real estate major announced its move into hotels at ATM and says it will add 20,000 keys to Dubai within five years, saying it has already acquired most of the plots of land for its hotels. Construction is expected to begin before the end of 2023.
Founder and Chairman of Azizi Developments, Mirwais Azizi, said: “With the UAE’s Tourism Strategy 2031 aiming to leverage public-private partnerships and seeking to attract over AED 100 billion in new investment in the tourism sector, we have decided to make a major investment in the hospitality sector.
“With the investment of AED60 billion over the course of the next five years, we aim to become a major part of Dubai’s promising future as a global hub for tourism.
“We are inspired by the vision and leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai, and it is always a source of pride for us to contribute to his plans for Dubai and the UAE.”
Azizi’s hospitality COO Michael Zager
To manage its new hotel business, Azizi has hired Michael Zager as COO of hospitality.
Zager has almost four decades in the industry, having served Wyndham and IHG in top VP roles.
He has also led several industry leaders toward enhanced operational highs as managing director of Hospitality360, a hotel management consultancy he established in 2019 to serve clients across Europe and the Middle East.
Seven-star hotels
The term ‘seven-star’ was first attributed to the Burj Al Arab Jumeirah, the group’s flagship hotel (which is officially a five-star property). Though the hotel group don’t reference the property as that.
