Omniyat to build Dh1b property in Downtown

Omniyat has announced a Dh1-billion development in Downtown Dubai that will comprise a five-star hotel and serviced apartments. The real estate development group has signed a strategic deal with hotel operator Langham Hospitality Group to develop the Langham Place Downtown Dubai, which will add some 438 rooms to Dubai's hospitality sector by 2018.

With a built-up area of 680,838 sq ft, the hotel will have a waterfront location with views of the Burj Khalifa, Dubai Water Canal and The Dubai Mall. It will have 167 rooms. The agreement between the two parties was signed in Hong Kong by Mahdi Amjad, Executive Chairman and CEO of Omniyat, and Dr Lo Ka Shui, Executive Chairman of Langham Hospitality Group.

''We are pleased to partner with Langham Hospitality Group to expand our portfolio in the region,'' said Amjad. ''As a Dubai-based company, we are committed to contributing to the city's definitive skyline with innovative real estate concepts.

''The launch of Langham Place Downtown Dubai complements the emirate's tourism vision to annually attract 20 million visitors by 2020. By then, Omniyat will have delivered more than 1,500 hotel rooms and suites.'' The developer added that the hotel will have Michelin-star restaurants, an all-day dining outlet, rooftop bar and lounge, a salon and more than 400 sq m of event space for corporate meetings and social galas. It will also have the group's signature spa, Chuan Body and Soul.

''We are delighted to manage this hotel in such a premium location in this dynamic city,'' said Dr Lo.

The project brings the total value of Omniyat's portfolio to Dh16 million.

''Dubai is still receiving demand for premium developments and we expect a strong response to the launch of the serviced apartments that will welcome global investors starting October 13,'' said Mark Phoenix, Managing Director of Omniyat. Renowned for developing Dubai's most expensive penthouse valued at Dh200 million, the developer recently completed its third project in Business Bay, The Binary.

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Source: Property Weekly


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