HVS Market Pulse: Fujairah
Fujairah is the fifth largest emirate in the UAE, covering 1,150 Km2 with a population of
approximately 182,023 according to the most recent statistics. Located on the east coast of the country, facing the Indian Ocean, its 90 km-long uninterrupted coastline boasts some of the most splendid beaches in the UAE. Fujairah also has the only multi-purpose port on the east coast of the UAE, highlighting its strategic importance as a crude oil hub and storage facility, as well as a ship refueling bunker. Fujairah's economy is largely driven by subsidies and federal government grants, distributed by the government of Abu Dhabi. Local industry consists of agriculture, energy production, manufacturing of chemicals and plastics, metallic products, paper and wood products, textiles, as well as mining and quarrying. These industries witnessed high output growth during Dubai's construction boom in the years leading up to 2010. Since then, Fujairah's GDP grew at 4% in 2011 and 11% in 2012, reaching a total output of AED 12,843 millionAbout HVS
HVS is the world's leading consulting and valuation services organization focused on the hotel, restaurant, shared ownership, gaming, and leisure industries. Established in 1980, the company performs more than 4,500 assignments per year for virtually every major industry participant. HVS principals are regarded as the leading professionals in their respective regions of the globe. Through a worldwide network of over 50 offices staffed by 300 experienced industry professionals, HVS provides an unparalleled range of complementary services for the hospitality industry. For further information regarding our expertise and specifics about our services, please visit www.hvs.com.
