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The new luxury Hotel Apartment named as "Al Waleed Palace Hotel Apartments – Al Barsha", which raises the size of the company's portfolio in terms of the number of hotel rooms to 176 rooms, which have already acquired in the last year her first hotel apartments in Oud Metha near " lamcy plaza " shopping mall, which consisting of 112 rooms.

Mohammed Abdul Razak Al-Mutawa, CEO, UAE businessman and Chairman of the Board Directors of "Al Waleed investment" said: "Al Waleed hospitality" aimed to acquisition luxury hotel Apartments with a high investment feasibility with supervision to meet the growing needs of serviced apartments also its come in line with our wise leadership's vision Dubai's Tourism Vision 2020 and "the World Expo 2020″.

Al-Mutawa added: The vision of “Dubai 2020” for the development of the tourism sector, adopted by HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, reflect the ambitious Unlimited to make Dubai top global tourist destinations, at a time when the reputation of the emirate feel free to all international tourist forums as a suitable destination for tourists being includes a wide range of options that are pleasing these tourists.

Also he stressed that the vision of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, "Dubai Tourism 2020″, going in line parallel with the goal of achieving to win hosting the exhibition "Expo 2020″ international, also represents a strong supporter and strategically to promote Dubai's tourism globally and enhance their ability to attract 20 million tourists a year by 2020, compared with 10 million tourists by the infrastructure in the hospitality and aviation sectors with which he enjoyed the emirate.

Mohammed Al Mutawa pointed out that: "Al Waleed investment group will continue to acquire more hotel apartment projects in Dubai local market to keep the rapid growth of the sector and benefit from the prospects of opportunities fruitful owned by the short and long term, where we are targeting raise our share in this area to more than 500 rooms by the end of the year 2018, as is currently conducting negotiations with the different parties to win.

"Al Waleed hospitality" focuses to provide the high-end services for its customers, by offering specialized services of a hotel within the high quality standards reflect a new experience in the hospitality sector at the level of the local market in Dubai.

The Chairman of the Board Directors of "Al Waleed" investment emphasized on the importance of Dubai as a hub of a global vibrant economic centre, the highest international standards in all spheres of economic activity and enjoys a strategic location to become a preferred tourist destination among major cities of the world. In addition to that the availability of numerous business opportunities, the availability of highly skilled workforce and most importantly of all, Dubai is led by strong government with insight.