6,050 keys to be completed by end of 2017, 4 hotels already open in the Burj Area of Dubai
Dubai, United Arab Emirates: 4 May 2015: DAMAC Maison Hotels & Resorts - the five-star luxury hotel service provider - is set to become one of the largest hospitality operators in the Middle East, with 6,050 keys to be completed by the end of 2017.
The company opened its first project, DAMAC Maison Dubai Mall Street in December 2013 and already has over 1,122 keys across four properties in the Burj Area of Dubai. Further projects are currently under development in Dubai, Riyadh and Doha which will take the total number of units to 6,050 across the region.
DAMAC Properties, the luxury real estate developer which owns DAMAC Maison Hotels & Resorts is showcasing the luxury service standards and exceptional suites on offer under its premium brand at the Arabian Travel Market in Dubai World Trade Centre.
"In just 18 months, DAMAC Maison Hotels & Resorts has become known for its luxury service standards offered within the comfortable surrounds of an expansive suite," said Niall McLoughlin, Senior Vice President, DAMAC Properties. "We have been delighted with the response from our owners and guests, which has helped our expansion plans across the region, potentially making us one of the largest hospitality operators in the Middle East."
Each unit within a project is purchased by an owner, which has the option to return the unit to DAMAC Maison Hotels & Resorts, who will manage all aspects of the unit under a rental pool scheme. Owners receive a percentage of the room rates. Those choosing to stay at a DAMAC Maison Hotels & Resorts property receive all of the services of a five-star hotel, but in the comfort of a luxury suite, with studios, one-, two- and three bedroom options available in some of the most desirable locations.
DAMAC Maison Hotels & Resorts has also agreed collaboration with Paramount Hotels & Resorts to build both hotels and hotel apartments which are styled with the ambience and flavor of the Paramount Pictures movies. DAMAC Towers by Paramount Hotels & Resorts is a hugely anticipated four-tower project being built in the Burj Area, which will house 1,080 luxury hotel apartment and a 772 key hotel. The project will open by the end of next year.
Other projects by DAMAC Maison Hotels & Resorts include Artesia, a 28-storey tower within the AKOYA by DAMAC master development, with 1,210 units and DAMAC Privé in the Burj Area which will offer 930 units overlooking the canal and with views of the world's tallest tower and Dubai fountains.
DAMAC Properties also has a second hospitably brand, NAIA, which has one hotel project, NAIA Breeze already open and in operation and further projects under development which will take the total number of hotel apartments and hotel rooms to over 13,000 in the region, all operated under the DAMAC Hotels & Resorts umbrella.
As of March 31st 2015, DAMAC Properties has delivered almost 14,000 homes and has a development portfolio of over 37,000 units at various stages of progress and planning.
Further information is available at www.damacproperties.com
DAMAC Properties has been at the forefront of the Middle East's luxury real estate market since 2002 - bringing luxury living experiences to residents from all over the world. Making its mark at the highest end of stylish living, DAMAC Properties has cemented its place as the leading luxury developer in the region, offering iconic design and the upmost quality. The company's footprint now extends across the Middle East with projects in the UAE, Qatar, Saudi Arabia, Jordan and Lebanon.
As of March 31st 2015, DAMAC Properties has delivered almost 14,000 homes and has a development portfolio of over 37,000 units at various stages of progress and planning.
The company is listed on the Dubai Financial Market (DFM). The company also issued a US$650 million five year Sukuk on NASDAQ Dubai in April of 2014, which was more than four times oversubscribed and was placed with institutional investors across Europe, the Middle East and Asia.
As a leading player in the market, DAMAC Properties has joined forces with some of the most recognisable fashion and lifestyle brands in the world to bring new and exciting living concepts to the market. Projects include a Tigers Woods designed golf course which will be managed by The Trump Organisation, luxury apartments with interiors by Italian fashion-house Versace, luxury apartments and villas with interiors by FENDI and uniquely conceptualised Paramount Hotels and Resorts to bring serviced living at it most opulent.
The company is also developing two of the most anticipated luxury master communities in Dubai - AKOYA by DAMAC and AKOYA Oxygen. With a combined square footage of almost 100 million sq ft, the two distinct projects bring luxury villas within lush green surrounds to the doorstep of those looking to escape the city lights in a private, serene environment.
Running through the heart of each project will be an 18-hole Championship Golf Course - The Trump International Golf Club, Dubai designed by Gil Hanse at AKOYA by DAMAC and The Trump World Golf Club, Dubai, designed by Tiger Woods. Both courses will be managed by the Trump Organisation, offering the highest levels of white glove service.
Each project will house the highest luxury villas and apartments currently available on the market, with branded living concepts available within AKOYA by DAMAC from Paramount Hotels & Resorts and FENDI. The Trump Estates mansions also offer a truly indulgent lifestyle, with panoramic views across the course.
As a global leader in branded real estate, the company is also developing a US$1.35 billion hotel and luxury serviced residences in the Burj area of Dubai, called DAMAC Towers by Paramount, which will comprise the first Paramount hotel and serviced residences in the region.
DAMAC Properties' hospitality portfolio will extend to reach around 13,000 units of hotel rooms, serviced hotel apartments and serviced villas. The company's pipeline of hospitality projects are operated under the DAMAC Maison Hotels & Resorts and NAIA Hotels & Resorts brands.
With vision and momentum, DAMAC Properties is building the next generation of Middle East luxury living.
Further information is available at www.damacproperties.com or join DAMAC Properties on Facebook, Twitter (@DAMACOfficial) and YouTube.
For more information please contact: Niall McLoughlin, Senior Vice President - Corporate Communications, DAMAC. Tel: +971 4 3731000 │ Fax: 00 9714 3732335 │Email: niall.mcloughlin@damacgroup.com
© Press Release 2015
