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The Vision Behind a 105 Million Dirhams Waterfront Tourist Destination

An initiative to boost inner tourism and quality of life for local residents.

Sectors : Tourism and Hospitality
Services : ,

The Vision Behind a 105 Million Dirhams Waterfront Tourist Destination 1
Goals

Goals

1. Multiply tourists’ and residents’ footfall around the year.
2. Generate revenues from tourism expenditures.
3. Multiply the frequency of visit and length of stay of visitors.
4. Lease more retail and office space at higher rates.
5. Create ‘Tourism Experience’.

Situation

Situation

The territory constituted a family-friendly environment but was in need to reinvent itself in order to accommodate the needs of its youth and to boost the local economy.

Analysis

Analysis

The clear purpose of our initiative was to drive a large number of visitors who want to visit cultural sites while enjoying entertainment. This unique selling proposal exploits market gaps and future trends knowing that:

1. It provided the perfect alternative for tourists searching to take back home ‘Souvenirs’ of oriental warmth, traditions, and authenticity.

2. Knowledge-based activities were the key drivers of international overseas travelers. Dining and shopping came first on tourists’ lists of activities, followed immediately by visits to historical sites, sightseeing in cities and villages and cultural heritage sights. Clubbing, sunbathing and guided tours come in third place.

3. The Emirates’ economic and social climates were highly favorable for cultural enterprising. The territory in question would instantly capitalize on a niche market, inclined towards creativity, not huge structures.

Actions

Actions

Before pitching the new concept to the local tourism development authority, The Seven Wise Men prepared a pre-feasibility study and pitch. After the project was approved, we developed the feasibility study for the project, including market research, asset optimization strategy, Go-To-Market strategy, and an ROI analysis.

Surface area: 24,000 sq.m.

Project cost: AED 105,000,000.

Highlights:

– Develop a family entertainment center.
– Launch water-based activities.
– Inaugurate a new park for passive and active activities for individuals and groups; in addition to a permanent outdoor exhibition center.
– Build multiple food and beverage and concessionary outlets.