The UAE-based real estate developer Deyaar Development plans to add 1,000 hotel keys in the UAE and signed a memorandum of understanding with Millennium & Copthorne Hotels, Middle East and Africa for developing and operating new hospitality projects.
The agreement was signed by Saeed Al Qatami, Chief Executive Officer of Deyaar, and Ali Hamad Lakhraim Alzaabi, President and CEO of Millennium & Copthorne Hotels MEA, at Cityscape Global.
Saeed Al Qatami said Deyaar has allocated up to one million square feet of land for hospitality projects as part of our growth strategy.
“We have already announced several hotels and hotel apartment projects as part of our ongoing development pipeline. As a logical progression, we decided to expand our hospitality portfolio and commenced serious conversations with reputed and established international hotel operators such as Millennium & Copthorne.”
Ali Hamad Lakhraim Alzaabi, President & CEO, Millennium & Copthorne Hotels MEA, said: “We have aggressive growth plans for the Middle East and Africa region, with an aim to open 100 hotels by 2020. We believe that our agreement with Deyaar will help us achieve our targets within the set time-frame.”
Millennium & Copthorne Hotels plc owns, asset manages and/or operates over 120 hotels worldwide. With almost 40,000 rooms worldwide, the company currently has a footprint in all continents.