Resort development at Gold Mohur Beach - Sheraton Hotel

Tourism Real Estate Project Development

ADEN. Yemen continued its expansion of the past few years and recorded an increase of 17% in arrivals between January and November 2006 and according to the World Travel & Tourism Council, Travel & Tourism activities are expected to grow by 5,9% per annum in real terms between 2006 and 2015.

The countries tourism development not only had been successful in quantified arrivals / receipts, but its tourism potential attracted furthermore international recognition as the country was highlighted e.g. as the "adventure destination" of the year in the New York Times.

Selected tourism projects have been identified by the Ministry of Tourism and private developers and as part of the development of tourism real estate projects, there is a need to assess and further develop existing and newly designed tourism infrastructure projects.

The perspectives of an increasing demand for sun and beach products and the emerging spa market are promising and the new investment law offers facilitations, guarantees and exemptions concerning taxes, customs fees and taxes on earnings are attractive for international investments.