Tag Archives: Egypt

TIME Hotels announces Middle East expansion plans ahead of ATM 2022

Dubai, United Arab Emirates, 27 April 2022: UAE-headquartered hospitality company TIME Hotels has outlined ambitious expansion plans to increase its portfolio by 40% to 21 properties throughout the UAE, Saudi Arabia, Egypt and Sudan.

The UAE-based hospitality company will have a portfolio of 21 properties throughout the UAE, Saudi Arabia, Egypt, and Sudan by 2023

The announcement, which comes ahead of the company’s participation at next month’s Arabian Travel Market, which takes place from 9 – 12 May at the Dubai World Trade Centre, will see an additional six properties added to TIME Hotel’s portfolio, with developments in Fujairah, Saudi Arabia, Sudan and three in Egypt being showcased at the Middle East’s premier travel showcase.

Mohamed Awadalla, the co-founder and CEO of TIME Hotels, said: “Following the challenges of the last two years, we have seen unprecedented demand for additional rooms in key territories in the region. This, combined with our in-depth market research, has underscored the need for new, quality-driven, value accommodation.

“We have witnessed resounding success throughout the UAE, Egypt, and Saudi Arabia, and we feel now is the time to expand for the company’s future success. With six new properties, totalling 781 keys, this is an important time for our expansion and growth both regionally and internationally.”

The company will outline its ambitious expansion plans next month during Arabian Travel Market 2022

As part of the company’s expansion plans, TIME Hotels will expand its offering in the UAE with the launch of the TIME Moonstone Hotel Apartments in Fujairah, located just 10 minutes from a host of amenities, including Fujairah Mall, City Centre Fujairah, and the Fujairah Corniche. The 91-key property, which is scheduled to open on 1 May 2022, will feature 13 one-bedroom and 78 two-bedroom apartments, an all-day dining restaurant, a gym, and saunas and steam rooms.

The company will also expand in Egypt with three new properties, including the 117-key Marina Hotel & Convention Centre on the North Coast, which is expected to open later in Q2 2022. The hotel will have three restaurants, including all-day dining, an Italian and O’Learys Sports Restaurant, as well as a rooftop lounge. Guests will have access to a range of spa facilities, a 750 sqm swimming pool and a gym. The hotel will also cater to the MICE market with a 700-person capacity convention centre.

The company will also expand in Egypt with three new properties, including the 117-key Marina Hotel & Convention Centre on the North Coast, which is expected to open later in Q2 2022.

TIME will also open the 201-key five-star TIME Coral Nuweiba Resorts located on the Red Sea. The resort features five restaurants and a range of amenities, including a private beach, pool, and kid’s facilities and will officially open under the TIME banner in Q3 2022.

The final property in Egypt is the TIME Nakheel Deluxe Apartments, located in the New Capital. The 216-key property is scheduled to open its doors in Q1 2023.

In Saudi Arabia, TIME has unveiled plans to open the 57-key TIME Express Al Olaya in the Saudi capital. The Riyadh property, which will target the budget-conscious traveller, will include a restaurant, a range of leisure amenities and a lively rooftop terrace with a shisha area and dining options.

Rounding out the new openings is TIME’s first foray into the Sudanese market with the TIME Ahlan Hotel Apartments in Khartoum. The 57-key property will be home to a coffee shop, meeting rooms, a rooftop terrace, a swimming pool, a gym, and a juice bar.

“This is an exciting time for the region’s tourism industry and offers a myriad of opportunities for TIME Hotels, not only with these openings but with others that will come further down the line. We have strategically developed a range of brands within our portfolio to offer our guests, whether corporate or leisure, exactly what they want and need from a holiday, business trip or short break,” concluded Awadalla.

TIME Hotels will be exhibiting on stand HC0620 during this year’s Arabian Travel Market.

For more information, please log onto https://www.timehotels.com/

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ameerul.hasan@thechangemakers.news

Solar investment competition in Saudi Arabia to be ‘fierce’, reveals energy expert at Middle East Energy 2022

Dubai, UAE – 8 March 2022: Data from leading renewable energy company, Finergreen, has revealed the solar photovoltaic (PV) investment opportunities and potential in Saudi Arabia, Oman, Jordan, and Egypt, as part of a report produced by SolarPower Europe. The discussion took place at Middle East Energy as part of the Intersolar Conference, which continues today, Tuesday 8 March and tomorrow at the Dubai World Trade Centre.

Renewable energy targets, increased market liberalisation, and the enormous solar potential expected to drive boom in Middle East solar photovoltaic (PV) sector over the next five years

Antonie Poussard, Manager Partner, Finergreen, revealed that with the ambitious renewable energy targets, increased market liberalisation, and the enormous solar potential, the solar PV sector in the Middle East is set to boom over the next five years.

Speaking at the Intersolar Conference this morning, Poussard said: “Saudi Arabia plans to increase its installed PV capacity by adding 9.5GW by 2023. Achieving this goal will result from policymakers reshaping the legal framework governing foreign investments and renewable energy. This, coupled with continued market liberalisation, is how Saudi Arabia will unlock its full solar potential.”

According to the report, Saudi Arabia’s National Renewable Energy Programme (NREP) will be the mechanism for delivering the country’s Vision 2030, which forecasts energy consumption to increase threefold between 2016 and 2030.

Antonie Poussard, Managing Partner at renewable energy specialists Finergreen, outlined the findings of a report exploring the solar PV potential in the region at Middle East Energy in Dubai

“Thanks to the Ministry of Energy’s aim to increase the share of natural gas and renewable energy sources by approximately 50% by 2030, there are ample opportunities for private sector investment and public sector partnerships which have already attracted the attention of the likes of Acwa Power, EDF, Masdar and JinkoSolar,” added Poussard.

The report also highlighted Jordan’s plans to decrease its dependency on fossil fuel imports with an ambitious renewable energy target with electricity generation from renewables set to reach 31% by 2030. The data also revealed a remarkable breakthrough between 2015-2020 by raising renewable energy’s share in the electricity mix from 1% to 14%. However, it was also outlined that bold measures would be required to meet targets and a need for the public and private sector to work in tandem.

Data also revealed Egypt is repositioning itself as a regional energy leader with strong clean energy investment ambitions and is viewed as an example for neighbouring countries across the Middle East and Africa. However, the report highlighted that achieving the country’s clean energy transition and meeting renewable energy targets will be tied to implementing conditions that attract further investment and improve business environments.

Oman has also resumed its ambitious development plan for renewables after successfully securing financing for its first utility-scale solar plant, which will be essential for the success of the country’s energy transition.

According to the International Renewable Energy Agency (IRENA), energy transition technologies will require investments of around $131 trillion by 2050

As part of today’s conference programme at Middle East Energy, the Global Energy and Utilities Forum will focus on finance, with the opening panel discussion addressing Funding the Energy Transition. According to the International Renewable Energy Agency (IRENA), energy transition technologies will require investments of around $131 trillion by 2050. Discussing this and other critical topics related to funding were Tim Palmer, Head of Renewables & Transition, UK Export Finance; Gurmeet Kaur, Partner, Pinsent Masons LLP; and Rajit Nanda, Advisor to the CEO, ACWA Power.

Speaking about the uptake in export finance, Palmer said: “Since setting up renewables and transition just over a year ago, we have seen remarkable take-up of our offering, so much so that we are already looking to expand our team – underscoring the demand within the market. Exporters and contractors are coming to us across the whole range of renewable sectors, both in mature technologies and very much from an emerging perspective.

Middle East Energy concludes tomorrow, Wednesday 9 March, with registration still open at the following link https://www.middleeast-energy.com/en/home.html.

As part of Informa’s commitment to providing the highest hygiene and safety levels, the event will again take place under the protocols introduced via the company’s Informa AllSecure health and safety mandate. The event will be at 100% capacity as per the recent rule changes by the UAE Government.

ameerul.hasan@thechangemakers.news