Union Properties plans to build cheaper hotels

[DUBAI] In Dubai, a city known for some of the world's most luxurious hotels and penthouses, developer Union Properties PJSC is looking to tap demand from people who want to visit the sheikhdom without breaking the bank.

The company plans to build around 1,000 hotel rooms in the next five years to address a shortage in the middle and lower end of the market, managing director Ahmad Al Marri said in an interview.

"Most of the demand is at the three and four-star level, because the majority of existing affordable hotels tend to be located in the older part of Dubai," Mr Al Marri said. "We can…