Tourism & Hospitality | Monday 6 April, 2015 12:00 am |

DAMAC Properties Opens Five Hotels in 14 months

DAMAC Maison The Vogue and NAIA Breeze; Latest Additions to the Growing Portfolio of DAMAC Hotels & Resorts

For Immediate Release, 5 April 2015: Luxury real estate developer DAMAC Properties has announced the opening of two new serviced hotel apartments’ projects in the Burj area: DAMAC Maison The Vogue and NAIA Breeze.

The two hotel projects are now welcoming residents and customers from all over the world and have a joint capacity of more than 500 suites. They constitute the fourth and the fifth projects for DAMAC Hotels & Resorts to open in the past 14 months.

Niall McLoughlin, Senior Vice President, DAMAC Properties said: “The opening of DAMAC Maison The Vogue and NAIA Breeze reflects the company’s strategy in the hospitality sector, to become a leading player in this field as one of the major hotels and luxury serviced apartments operators in the region.”

McLoughlin added: “After the success of DAMAC Maison, the first hospitality brand we launched, we introduced NAIA as a second brand that represents a different positioning with the same standards of luxury and quality services guaranteed by DAMAC.”

He concluded: “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.”

DAMAC Properties currently has 1,450 keys under management of DAMAC Hotels & Resorts, a number that will dramatically increase with the completion of several further projects.

In addition to these serviced hotel apartments, DAMAC’s main flagship projects announced for hotels and luxury serviced residences are: DAMAC Towers by Paramount, a four tower project in the Burj area including Paramount Hotels & Resorts hotel and three serviced apartment towers under the management of DAMAC Maison, Paramount Hotel Jumeirah Water Front, DAMAC Esclusiva, a luxury serviced apartments with interiors by FENDI, and DAMAC Tower by Paramount Hotels & Resorts both in the Saudi capital-Riyadh, in addition to several other prominent projects.

As of December 31st 2014, DAMAC Properties has delivered almost 13,000 homes and has a development portfolio of over 38,000 units at various stages of progress and planning. Included are more than 10,000 hotel rooms and serviced hotel apartments under development, which will be managed by its hospitality arm, DAMAC Hotels & Resorts.

Further information is available at www.damacproperties.com

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About DAMAC Properties
DAMAC Properties has been at the forefront of the Middle East’s luxury real estate market for more than 13 years – bringing luxury living experiences to residents from all over the world. Making its mark at the highest end of stylish living, DAMAC Properties has cemented its place as the leading luxury developer in the region, offering iconic design and the upmost quality. The company’s footprint now extends across the Middle East with projects in the UAE, Qatar, Saudi Arabia, Jordan and Lebanon.

As of December 31st 2014, DAMAC Properties has delivered almost 13,000 homes and has a development portfolio of over 38,000 units at various stages of progress and planning. Included are more than 10,000 hotel rooms and serviced hotel apartments under development, which will be managed by its hospitality arm, DAMAC Hotels & Resorts.

The company is dual-listed on the Dubai Financial Market (DFM) with Global Depository Receipts placed on the London Stock Exchange (LSE), making it the first real estate company from the UAE to appear on LSE. The company also issued a US$650 million five year Sukuk on NASDAQ Dubai in April of 2014, which was more than four times oversubscribed and was placed with institutional investors across Europe, the Middle East and Asia.

As a leading player in the market, DAMAC Properties has joined forces with some of the most recognisable fashion and lifestyle brands in the world to bring new and exciting living concepts to the market. Projects include a Tigers Woods designed golf course which will be managed by The Trump Organisation, luxury apartments with interiors by Italian fashion-houses Versace, luxury apartments and villas with interiors by FENDI and uniquely conceptualised Paramount Hotels and Resorts to bring serviced living at it most opulent.

The company is also developing two of the most anticipated luxury master communities in Dubai – AKOYA by DAMAC and AKOYA Oxygen. With a combined square footage of almost 100 million sq ft, the two distinct projects bring luxury villas within lush green surrounds to the doorstep of those looking to escape the city lights in a private, serene environment.

Running through the heart of each project will be an 18-hole Championship Golf Course – The Trump International Golf Club, Dubai designed by Gil Hanse at AKOYA by DAMAC and The Trump World Golf Club, Dubai, designed by Tiger Woods. Both courses will be managed by the Trump Organisation, offering the highest levels of white glove service.

Each project will house the highest luxury villas and apartments currently available on the market, with branded living concepts available within AKOYA by DAMAC from Paramount Hotels & Resorts and FENDI. The Trump Estates mansions also offer a truly indulgent lifestyle, with panoramic views across the course.

As a global leader in branded real estate, the company is also developing a US$1 billion hotel and luxury serviced residences in the Burj area of Dubai, called DAMAC Towers by Paramount, which will comprise the first Paramount hotel and serviced residences in the region.

DAMAC Properties’ hospitality portfolio will extend within the coming three years to reach around 10,000 units of hotel rooms, serviced hotel apartments and serviced villas. The company’s pipeline of hospitality projects to be opened in the coming few months extends in different locations of the Burj Area and other key areas of Dubai with its DAMAC Maison and NAIA products.

With vision and momentum, DAMAC Properties is building the next generation of Middle East luxury living.

Further information is available at www.damacproperties.com or join DAMAC Properties on Facebook, Twitter (@DAMACOfficial) and YouTube.