IFA Hotelier Investments (IFAHI), a wholly owned subsidiary of IFA Hotels & Resorts, is developing a new staff housing complex to accommodate up to 10,000 people.
Speaking to Hotelier Middle East, IFAHI CEO Joe Sita said: “It’s a facility for 10,000 staff, of which we’ve already got pre-commitment for 8000 of those and interest from another 20,000. So we have more demand for this than we have supply.”
The staff accommodation business, which currently falls under IFAHI’s contracted services division, will eventually become a separate business division with its own brand, Sita revealed.
“This is going to be a huge business for us. It’s business that’s not well serviced at the moment. Everybody scrambles looking for staff accommodation both at the logistical labour level and also at the qualified hospitality level.
"At the moment we are focused on the hospitality side, but we are going to grow this business and give it its own brand. Later this year we’ll launch a new brand for the staff accommodation,” he said.
IFAHI currently works with four operators, including FRHI and Movenpick, and has a facility in Dubai Investment Park that houses 2000 people between the hotels that IFA asset manages and its own business units.
The new $200 million complex will cover 600 sq m and will feature indoor sports facilities, catering service, and state-of-the-art amenities, and is scheduled to be operational by September 2016.
“It’s going to be state of the art, and it will create a level of staff housing that’s not evident in this country at the moment,” Sita said.
Source: Arabian Business