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Middle East, Africa hotel construction drops in October

Middle East, Africa hotel construction drops in October

Hotels, Construction, Hospitality

Riyadh-Al-Faisaliah-Tower-web

The 2,450km2 Al-Faisaliya project is said to be an extension to the city of Makkah and will see the development of residential areas, malls, a port, and entertainment, educational, health, agricultural, and industrial facilities.

Hotel construction across Africa and the Middle East dipped in October, with fewer rooms in the final stage of development than at the same point last year. 

STR data revealed that year-on-year hotel construction in the Middle East and Africa during October dropped by 5.7% and 4% respectively. 

There were 434 projects accounting for 119,991 rooms in construction in the Middle East last month, the data showed.

Africa had 135 projects with 24,939 rooms in construction during the month.

While the Middle East noted a dip in hotel construction — suggesting more properties have been hit the market —the region reported an additional 28,541 rooms in the final planning stage and 45,273 rooms at other preliminary planning stages.

UAE continues to lead the pack

Meanwhile, Africa has more than 18,000 hotel rooms at final planning and 22,629 at earlier planning stages.

Only five countries across the Middle East and Africa have more than 4,000 rooms under construction.

The United Arab Emirates has 52,810 rooms, which represented 30.1% of the market’s existing supply, followed by Saudi Arabia with 38,912 rooms which represented 38.3% of existing supply. 

Oman recorded a total of 5,049 rooms, representing 26.6% of existing supply and Egypt recorded 4,976 rooms, which represented 2.9% of existing supply, according to Commercial Interior Design's sister title, Hotelier Middle East.

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