SKAI to upgrade AED1.28bn tower to luxury five star property

Construction progressing on newly named Viceroy Dubai Jumeirah Village, operations to commence in 2018

Unique star wing design trademarked in 8 categories

Viceroy Dubai Palm Jumeirah over 50 percent complete

Dubai, UAE, April 22, 2015: SKAI, the Dubai-based real estate investment group, will upgrade its upper upscale property in Dubai's Jumeirah Village Circle to a five-star luxury property and rebrand it Viceroy Dubai Jumeirah Village following the signing of Viceroy Hotel Group as its hotel operator.

SKAI, which launched the upper upscale four-star Suites in the SKAI in May last year, will upgrade the AED1.28bn ($348.4m) tower, putting it on track to become the first five-star property in a five-kilometre radius. The signing of Viceroy Hotel Group marks the operator's second venture with SKAI alongside sister property, Viceroy Dubai Palm Jumeirah. The upgrade to a five star hotel comes at no additional cost to buyers and will add significant value to stakeholders.

Construction on the 60-storey tower is already underway with the hotel scheduled for operation in 2018. Its distinctive star wing design was also recently trademarked in 8 categories. Conceptualised in-house by architect Nabil Akiki, CEO of Real Estate Development, the unique design allows for each room and apartment to incorporate a vast landscaped garden.

Bill Walshe, CEO of Viceroy Hotel Group said: "It is a great privilege to be collaborating with SKAI Holdings for a second project following our partnership for Viceroy Dubai Palm Jumeirah. Dubai's dynamic tourism market is continuing to thrive and this opening reaffirms our commitment to significantly growing our presence within the region. We look forward to working closely with SKAI Holdings to bring another exceptional and inspiring hotel to the city."

"We are delighted to partner with Viceroy Hotel Group on our second project. The operator's philosophy of creating lifestyle experiences with intuitive services complements SKAI's values. The compelling architecture deserves an inspiring brand to bring our vision to life and Viceroy was the obvious choice," said Kabir Mulchandani, Group CEO of SKAI.   

SKAI's Viceroy Dubai Jumeirah Village will feature 247-hotel rooms and suites as well as 221 one-and-two bedroom apartments and 33 four-bedroom apartments with private pools. The tower is strategically located in close proximity to three of Dubai's arterial roads (Al Khail Road, Sheikh Mohammad Bin Zayed Road (formerly Emirates Road) and Hessa Street) and a short drive from Dubai's new Al Maktoum International Airport and Expo 2020 site.

Viceroy Dubai Jumeirah Village will feature breathable architecture allowing sunlight to shine through the core of the tower and a vertical microclimate design with over half a million sq. ft. of flora, naturally helping maintain the temperature. Lush green balcony-gardens and 271 sky-high swimming pools add to the sense of nature while floating bathtubs, floor to ceiling windows and panoramic views across the city provide the ideal cosmopolitan backdrop.

The property will include five dining venues hosted by world-class chefs, including an all-day dining concept, a lobby café, pool bar, sports bar and a rooftop Chinese restaurant. Other amenities include state-of-the-art gymnasium, fitness centre with outdoor yoga terrace and lavish swimming pool, sauna and steam room and boutique spa.  

Viceroy Dubai Palm Jumeirah, SKAI's flagship property, has completed over 50 percent of construction on the 17-storey building. Superstructure works are now at an advanced stage with concrete and block work substantially completed and MEP works in the second fix. Interior cladding and finishing works are progressing on schedule and landscaping works have commenced. The luxury hospitality and residential project, which is set to open in 2016, will offer guests 477 spacious rooms and suites and 222 signature Viceroy Residences with breath-taking views of the Arabian Sea and Dubai's dramatic skylines.

For media information on SKAI Holdings, please contact:
Claire Valdini
ASDA'A Burson-Marsteller
Tel: +971 4 450 7600
Email: claire.valdini@bm.com 

For media information on Viceroy Hotel Group, please contact:
Eleanore Longley
PRCo Dubai
Tel: +971 4 278 4903  
Email: elongley@prco.com

About SKAI
SKAI is an integrated and holistic real estate group based in the UAE. Offering a wide range of services across four key verticals - investment, restructuring, development and hospitality - SKAI has a unique approach that is designed to leverage the different cycles of the real estate industry.  SKAI differentiates itself through its philosophy of Inspired Perspectives. Based on four core values, SKAI Holdings takes pride in its ambition and remains committed to fostering trust, encouraging entrepreneurship, driving innovation and relying on its intuition.

Real estate investment:
SKAI identifies and invests in completed projects at the most opportune time for maximum return.

Real estate restructuring:
SKAI has a proven track record in acquiring, evolving and selling properties. The firm has developed and delivered residential projects, Villa Myra and Villa Pera and Cappadocia in Dubai's Jumeirah Village Circle. Other completed projects include Bahar 4 in Jumeirah Beach Residence, Dubai.

Real estate development:
SKAI is involved in the construction and development of properties across the UAE.

Hospitality:
SKAI has a clear mandate to grow its hospitality division across three core areas; hotels, serviced apartments and residences. The firm is currently developing the AED3.67bn ($1bn) Viceroy Dubai Palm Jumeirah. SKAI Residency features 117 one and two bedroom serviced apartments for short and long-term leases in The Greens, Dubai.

About Viceroy Hotel Group
Viceroy Hotel Group delivers one-of-a-kind lifestyle experiences that bring together provocative design and intuitive service in sought-after locations. Signature brand amenities and services created for the diverse business and leisure guests include dynamic dining venues featuring world-class culinary talents and destination spas specializing in health, fitness and beauty. Current properties include hotels and resorts in Abu Dhabi, Anguilla, Beverly Hills, Maldives, Miami, New York, Riviera Maya, San Francisco, Santa Monica, Snowmass, St. Lucia and Zihuatanejo with forthcoming openings in Algarve, Chicago, Cartagena, Bodrum, and Dubai. For more information, please visit www.ViceroyHotelGroup.com.

© Press Release 2015