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Emerald Palace Group, a developer and strategic partner of Kempinski Hotels, has been creating a world of luxury in the UAE and the CIS countries since 1996. It has completed around 40 master-planned properties to date, comprising more than 10,000 residential units spread across more than 1 million sq m.
In an interview, Wessel Witthuhn, COO Property and Business Development for the Emerald Palace Group, talks about the company's projects in Dubai, particularly the Emerald Palace Kempinski Hotel, its innovative investment programme, as well as future plans.
- Tell us about the group's projects in Dubai.
The projects in Dubai include Emerald Palace Kempinski Hotel, Kempinski Hotel and Residences Palm Jumeirah, and the upcoming Kempinski Business Bay. Along with this, we have launched two exciting hotel investment opportunities to give investors solid returns.
- What is so unique about the Emerald Palace Kempinski Hotel?
The Emerald Palace Kempinski Hotel on Palm Jumeirah features 500m of private white sandy beach, 347 luxuriously decorated rooms, of which 36 are spacious suites, and 100,000 sq m of landscaped gardens.
There will be 18 food and beverage outlets, including Mix by the renowned Michelin-starred chef Alain Ducasse and All'onda by China Grill, a luxury spa by Cinq Mondes, gym, cinema, kids' club and 3,000 sq m of retail space. The development also offers investment opportunities in the hospitality sector.
- What are the distinctive architectural features of this hotel?
The Emerald Palace Kempinski Hotel boasts a splendid classical decor—a throwback to 18th-century Continental Europe revised with all the amenities and luxuries of modern life. The palatial architecture of the hotel emanates a timeless elegance, luxury and affluence. It also perfectly complements the Kempinski Hotel and Residences Palm Jumeirah, which has been developed in the same architectural style.
- What's the Emerald Palace investment project?
The Emerald Palace Group is offering a unique opportunity to all investors, whether an individual, fund or business.
Our hotel room investment programme gives them the chance to achieve capital growth through regular quarterly revenue payments from the operation of the rooms department.
Investors can buy rooms with a compulsory lease back to the hotel. Investors are guaranteed 40 per cent of the net revenues, which are given based on the size of the rooms they invest in.
Along with the Emerald Palace Kempinski Hotel, we have rolled out the investment opportunity at Kempinski Business Bay as well. What makes this state-of the-art building attractive is that it is in the heart of Dubai's business district and can drive various businesses and fund investors in the area to look into the programme.
The room investment strategy can be used as a business marketing opportunity as well, while ensuring a steady financial return.
There will also be sharing between the two developments, so occupants of both properties can share facilities such as access to the beach and restaurants.
- How do you assess the growth of the hospitality industry in Dubai?
The hospitality industry in Dubai is booming. The sector received a further boost due to Dubai's World Expo 2020 bid win. To sustain the boom all we need to do is to be innovative, and that is why we have introduced the investment programme.
There are, however, numerous challenges to sustainable growth and development in the hospitality sector. We don't just want to construct buildings specifically for 2020; we must invest in projects that will add to the country's growth beyond that year.
They must be designed and planned to include cutting-edge technologies, green designs and guidelines and sustainable practices. This obviously opens the door for amazing innovations and creations in the sector.
Emerald Palace investment programme key features:
• Investment can be secured through the issuance of title deeds for individual rooms.
• The average hotel room prices start at Dh2.8 million.
• Attractive payment plan structured around the completion of key construction milestones.
• The owners will be entitled to 14 free nights a year in their hotel room and benefits as an Emerald Palace Club Member.
• The net income generated from the hotel room inventory will be split between the hotel and investors on a 60/40 basis.
• About 50 per cent of the construction is completed. It is expected to be ready by December 2015.
Ask the Agent - What are the advantages of buying a property under construction?
Source: Chiranti Sengupta, Features Writer, Property Weekly