Emaar to enter Saudi market
Emaar Hospitality Group will open several new hospitality developments and food and beverage concepts by the end of 2024, notably entering the Saudi Arabia market, while expanding in Marassi, Egypt, and the Dubai Creek Harbour.
Eight new properties have been announced: Address Jabal Omar Makkah, Vida Dubai Mall, Vida Creek Beach, Palace Dubai Creek Harbour, Address Marassi Beach Resort in Egypt, Vida Marina Resort & Yacht Club Marassi in Egypt, Vida Aljada Sharjah, and Vida Residences Cairo Gate.
Address Jabal Omar Makkah, Emaar Hospitality Group’s first hotel to open in Saudi Arabia, is expected to be an iconic landmark in the holy city.
Emaar Hospitality Group is adding to its existing portfolio of hotels and resorts, with Address Marassi Beach Resort and Vida Marina Resort & Yacht Club Marassi, both in Egypt, scheduled to open this year. Finally, 2024 will see two more additions to the Vida brand, with Vida Aljada in Sharjah and Vida Residences Cairo Gate in Egypt. Vida Dubai Mall will be adjacent to The Dubai Mall, and is estimated to be ready this summer, with stylish interiors including rooms and suites, social dining options and residences.
Emaar Hospitality Group is launching Palace Dubai Creek Harbour and Vida Creek Beach this year, bringing the total number of its hotels in this cluster to four, including the already operating Vida Creek Harbour and Address Grand Creek.The hospitality group has witnessed a growth in occupancy rates, with 2022 rates going up from 60 per cent in 2021 to 65 per cent and to 74 per cent in 2023 thus far.