Gulf Construction Online - Emaar to begin work on a new Address

UAE Focus

Emaar to begin work on a new Address

01 October 2012

EMAAR Properties has launched a new hotel and serviced residences project in its flagship Downtown Dubai development.

The Address The BLVD, a five-star premium hotel and serviced residences, is the sixth addition to The Address Hotels + Resorts portfolio of Emaar Hospitality Group in Dubai.

Work on the development, which features studios, and one-, two-, three- and four-bedroom serviced residences, will commence shortly and is scheduled for completion in early to mid 2015.

The project, the developer’s first major hotel project since the Dubai’s property crisis erupted in 2009, underlines the recent positive growth of Dubai’s property sector and the robust gains recorded by the city’s tourism and hospitality sectors.

Featuring 200 hotel rooms and 542 serviced residences, and billed to be another sterling addition to Dubai’s skyline, the 63-storey hotel will be 340 m tall, and will be the second tallest building in Downtown Dubai, next to Burj Khalifa, the world’s tallest building, said Emaar Properties.

Ahmad Al Matrooshi, managing director of Emaar Properties, said: “The launch of The Address The BLVD is a strong reiteration of the positive growth trends in Dubai’s real estate sector, led by the significant increase achieved in tourism, hospitality, retail and foreign trade. It also highlights Emaar’s commitment to provide long-term value for our stakeholders by creating premium real estate assets in Dubai and to strengthen our recurring revenues through our investments in the hospitality sector.

With the Address hotels in Dubai recording average 85 to 90 per cent occupancy throughout the year, The Address The BLVD will further complement the city’s hospitality sector growth.”

The Address The BLVD serviced residences offer outstanding views of The Dubai Fountain, the world’s tallest performing fountain, and Burj Khalifa. It will also provide direct access to The Dubai Mall, the world’s largest shopping and entertainment destination, through a new air-conditioned bridge link, in addition to easy access to The Dubai Mall/Burj Khalifa metro station.

The hotel marks Emaar’s third project this year after it launched the ‘Panorama at the Views’ high-rise development, consisting of over 200 luxury apartments, and Alma 2 in the Arabian Ranches residential complex.