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Damac Properties has started handing over the first ever project to be completed in Dubai South, Damac Maison de Ville Tenora hotel apartments. The developer said ready-to-move in hotel apartments in Tenora will be offered at a starting price of Dh587,000.
The company is also building another hospitality project in the area, Damac Maison de Ville Celestia, which is expected to be completed in 2018. Units at the project start at Dh560,000. Damac said both projects offer investors the opportunity to take the first delivery of properties in Dubai South.
“With Dubai’s strategic plan to create a key new hub for business and investment, and complemented by world-class facilities, there will naturally be a need for hotel accommodation in the centre of this vital area of the city,” said Ziad El Chaar, Managing Director of Damac Properties. “Our hotel apartment offering in Tenora and Celestia is uniquely attractive as they benefit from prime, high-demand locations at the centre of Dubai South and a return on investment can be realised immediately leading up to and during the World Expo 2020.
“Tenora units are completed and handed over, while Celestia will be delivered in 2018, making them the premiere completed projects in Dubai South and allowing investors the first opportunity to benefit and reap the returns from such properties in this strategic location.”
Damac said Maison de Ville is suitable for both short and long-term stays, promising a “five-star hotel experience”. Celestia, on the other hand, will deliver 964 serviced homes in 2018
Residents of Celestia and Tenora will be connected to three major roads — Shaikh Mohammad Bin Zayed Road, Shaikh Zayed Road and Emirates Road. Dubai South will host the first World Expo in the Middle East.
Source: Property Weekly