Waterfront promenade Zaitunay Bay is the latest development project in Beiruit
But as domestic and regional instability always looms, MME speaks to one of the developer
The UAE is experiencing a tourism boom post-Arab spring. We talk to one company reaping the rewards
IN FOCUS: Beirut’s Building Boom
Beirut’s Zaitunay Bay is one of the latest development projects in the Lebanese capital. The waterfront promenade is dotted with high-end shops and restaurants. So far the project has been a success but in Beirut, domestic and regional instability always looms. MME spoke to one of the developers about the fine line between business opportunity and high-risk investment.
FACETIME: Frits Van Paasschen, CEO, President & Starwood, Starwood Hotels & Resorts Worldwide
While North Africa’s tourism industry faces many hurdles due to the Arab Spring, so far it’s proving to be a bumper year for the U.A.E. According to the World Travel and Tourism Council, the UAE will make $20 billion from holiday makers this year. Starwood Hotels and Resorts is just one company that is seeing the huge potential in the Middle East with plans to build 40 new hotels in the region by 2017. MME sat down with CEO Frits Van Paaschen and asked him about this rapid expansion.
Marketplace Middle East airs weekly at the following times (all GMT):
Sundays: 0515, 1545