DAMAC Properties, one of the Middle East’s largest real estate developers, is introducing the first luxury serviced hotel apartments in Dubai World Central (DWC) to be completed in advance of Dubai hosting the Expo 2020 exhibition.
Launched for sales this morning with a starting price of AED 610,000, TENORA, is a 10-storey, 270 unit tower in the heart of the Dubai World Central site and will be completed in Q2 2015 to serve Al Maktoum International airport and professionals working to build the adjacent Expo 2020.
Construction is already well advanced and TENORA is strategically placed in DWC Residential City and close to the world’s largest airport, Al Maktoum International, offering a vibrant atmosphere in a prime location which is set to grow exponentially in the next seven years.
The government, quoting a report by consultancy firm Oxford Economics has estimated Expo 2020 will attract 25 million visitors over the six months and create around 277,000 jobs. Over the next seven years, Dubai and the UAE is set to benefit from an estimated US$6.9 billion (AED25.3 billion) in infrastructure projects. It forecasts a boost to gross domestic product of more than US$38 billion (AED140 billion), equivalent to around 44 percent of the 2012 total.
“Dubai’s Expo 2020 success will be the catalyst for future growth and investment in Dubai for the next seven years,” said Niall McLoughlin, Senior Vice President, DAMAC Properties. “TENORA is designed specifically to support the influx of people to the Dubai World Central area of Dubai – not only during the exhibition itself, but also the many thousands of people who will be working on the project in the lead up to the event.”
TENORA will be managed by DAMAC Maison, DAMAC Properties’ hospitality division, which will provide bespoke hospitality services to residents in 7,351 serviced hotel apartments by the end of 2017.
DAMAC Maison offers high-end hotel services within the property development sector, reflecting DAMAC Properties’ highest standards of quality, delivering the ultimate luxury lifestyle experience. Residents will enjoy a 24-hour concierge, maid services, kids club, café and luxury spa within the development.
“TENORA is a prime project, in a prime location with the personal service traditionally experienced only in the very best hotels in the world,” added McLoughlin. “This is the first opportunity to be own part of Dubai’s future with Expo 2020 a reality which will drive not only Dubai forward, but the whole region.”
Dubai World Central is a 140 km2 district centred on the Al Maktoum International airport delivering unrivalled connectivity, superb logistics and world-class infrastructure leveraging Dubai’s position as a leading global trade, business and aviation hub.
About DAMAC Properties:
DAMAC Properties was established in 2002, as a private, residential, leisure and commercial developer in Dubai and the Middle East. In the past decade, DAMAC Properties has expanded into Iraq, Jordan, Lebanon, Qatar and Saudi Arabia.
DAMAC Properties has completed 8,887 units to date and has a further 23,688 units at various stages of progress and planning across the Middle East region.
In May 2013, DAMAC Properties introduced the 42 million square foot ‘AKOYA by DAMAC’ master plan development off Umm Suqeim Road in Dubai. The project includes mansions, villas, luxurious apartments and retail centre all surrounding an 18-hole Championship Golf Course ‘The Trump International Golf Club, Dubai’.
Within the AKOYA by DAMAC golf course community, featured products include ‘The Trump Estates’, a luxurious lifestyle community located in the most desirable locations of the development. Also set within the heart of the community is a global first, with the launch of FENDI fashion-styled villas using FENDI Casa designs and influences, these villas offer a new concept of refined living.
The project also includes a 14 million sq ft extension to the original 28 million sq ft at AKOYA by DAMAC, with a dedicated 4.3 million sq ft of open parkland, which will be a first-of-its-kind development in the region. The exclusive villas are set within the grounds of a lush green open space reserved for the residents of the community. The AKOYA Park will become one of the largest private parks in the region.
The company is also developing a US$1 billion hotel and luxury serviced residences in the Burj Khalifa area of Dubai, called ‘DAMAC Towers by Paramount’, which will comprise the first Paramount Hotel & Residences in the region and DAMAC Maison serviced units – Paramount co-branded serviced hotel residences.
In October 2011, DAMAC Properties launched its hospitality division, DAMAC Maison, which will provide bespoke hospitality services to residents in 7,351 serviced hotel apartments by the end of 2017.
DAMAC Properties reinforced its position as the region’s premium developer with the launch of ‘DAMAC Tower’ in Beirut, Lebanon. A 28- storey tower, this project is in association with Italian design group, VERSACE, with all interiors being designed by Versace Home. This was followed by the DAMAC Residences with Interiors by Versace Home, in Jeddah, Saudi Arabia.
Extending its collaborations with luxury Italian fashion houses, DAMAC Properties is developing luxury serviced hotel apartments in ‘DAMAC Esclusiva’ in Riyadh and private apartments in ‘DAMAC Residenze’ in Dubai Marina, with interior designs by FENDI Casa.
In addition to support services provided by the Dubai headquarters, the company’s comprehensive Customer Care Program provides solutions through its network with offices in the UAE, Jordan, Iraq, Lebanon, KSA and Qatar.
Soures: damacproperties
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