Property firm says it has opened five hotel-apartment developments in last 14 months
The Dubai-listed developer Damac says it has opened two hotel-apartment projects close to the Burj Khalifa, the world’s tallest building.
The firm says the opening of Damac Maison The Vogue and NAIA Breeze means it has launched five such properties in the last 14 months.
The two serviced hotel-apartment projects are now welcoming residents and have a joint capacity of more than 500 suites.
“Damac Hotels & Resorts has five projects open to date and more to come, catering for the growing need in the Dubai hospitality sector, where the number of tourists and visitors is expected to grow steadily year on year reaching an unprecedented level in five years’ time, during the World Expo 2020,” said Niall McLoughlin, senior vice president at Damac Properties.
Other hotels and luxury serviced residences under development include Damac Towers by Paramount, also in the Burj area, and Damac Esclusiva, which features interiors by Fendi.
The Dubai developer said last month it had seen robust sales in the first quarter of this year due to healthy demand from foreign investors.
The developer’s sales hit AED2.8 billion ($762 million) in the first three months of 2015, according to a statement on the Dubai Financial Market website.