628 hotel projects under contract in Middle East and Africa

Thursday, 25 September 2014 00:47 - - {{hitsCtrl.values.hits}}

As many as 628 hotel projects are currently under contract in the Middle East and Africa (MEA) region and together they will add 147,454 rooms into the booming hospitality sector, said a report. The ‘under contract’ data includes projects in the ‘construction, final planning and planning’ stages but does not include projects in the unconfirmed stage, stated leading research group STR Global in its Construction Pipeline Report for August. Among the key markets in the region, Jeddah, Saudi Arabia, reported the largest increase in existing supply. It will register over 115.7% growth if all 7,396 rooms under contract open, the report said. Four other markets reported more than 50% expected room growth: Riyadh, Saudi Arabia (over 113% with 10,095 rooms); Doha, Qatar (over 79.7% with 10,828 rooms); Lagos, Nigeria (over 63.3% with 2,397 rooms); and Muscat, Oman (over 55.6% with 3,006 rooms), said STR Global, which provides a single source of global hotel data covering daily and monthly performance data, forecasts, annual profitability, pipeline and census information.

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.