Dubai hotel receives $40.8mn financing from Mashreq Bank

Lifestyle hotel brand ME by Meliá at The Opus will be financed by UAE’s oldest privately-owned bank

Omniyat has announced that it has secured a financing of $40.8 million from Mashreq Bank for the fit-out of its ME by Meliá’s Dubai hotel, based in The Opus by Zaha Hadid in Downtown Dubai.

Located in Dubai’s Burj Khalifa district, The Opus combines a variety of residences, office spaces, a club and several restaurants in addition to the ME by Meliá operated hotel.

Mahdi Amjad, chairman and CEO at Omniyat, said: “Bringing Zaha Hadid’s ground breaking vision of the future to life has been a momentous journey and we wish to continue her legacy through The Opus.”

“As the final and most anticipated component of The Opus, we are thrilled to be revealing ME Dubai’s debut by the end of the year. We look forward to guests experiencing the full capacity of the architectural wonder as it captures design aspirations from every corner.”

Enrique Ortiz, EMEA region VP at Meliá Hotels International, added: “We are honoured to work in partnership with her team and Omniyat and we are very much looking forward to ME by Meliá’s first debut in the Middle East offering guests an unparalleled experience combined with exemplary design.”

“The Opus is testament to how innovation can create a meaningful legacy,” said Ahmed Abdelaal, head of Corporate and Investment Banking Group, at Mashreq. “This approach mirrors our own and reflects how we empower our customers to achieve their own dreams and aspirations.”

Omniyat communicated that The Opus is Zaha Hadid’s first project in Dubai to have been fully designed from an interior and exterior perspective. Every element of the hotel and residential space is recognizable of the late architect’s signature curves and flowing lines complementing the exterior of The Opus, the developer added.

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