UAE: Deyaar has announced a deal with Millennium & Copthorne, to operate three hotel and serviced apartment developments in the emirate.
Deyaar's alliance with Millennium & Copthorne covers three
of Deyaar's current developments - a hotel and serviced apartment
development in Al Barsha next to Mall of the Emirates, The Atria
luxury residences in Business Bay, and Montrose premium serviced
apartments in Dubai Science Park.
The developments will have a total of 953 units, including one, two and three-bedroom serviced apartments and four star hotel rooms. All three developments are scheduled for completion from late 2017 to early 2018.
Millennium & Copthorne will manage and operate the developments' hotel and serviced apartments, as well as providing consultancy services during the construction phase of the projects.
Saeed Al Qatami, Deyaar's CEO, said: "The new developments will provide convenient overnight, short-term and long-term hospitality options for business and leisure travellers to Dubai. We have chosen our locations based on convenient access to the major business and transport nodes, including malls, metro stations and offices. Family tourism in Dubai is booming, with large leisure and entertainment attractions opening this year. Deyaar's agreement with Millennium & Copthorne, a reputed and respected international hotel operator with an excellent track record in global hospitality, positions us well to support this growing tourism sector.
"Across the commercial, residential and hospitality segments, Deyaar provides a high-quality infrastructure for a livable city. This is aligned with strategic Government policy plans such as the UAE Vision 2021 and Dubai Plan 2021 which envisage sustainable cities with built infrastructure that can accelerate economic diversification and facilitate family-orientated communities," added Qatami.
Ali Hamad Lakhraim Alzaabi, president and CEO of Millennium & Copthorne MEA, said: "We are delighted to partner with Deyaar, a company of excellence in the real estate sector, to bring these exciting developments to the market. The projects will add to the breadth of Dubai's hospitality offering, boosting the number of international standard, high quality hotel rooms and serviced apartment accommodation to meet rising demand. Such an agreement means we remain firmly on track to reach our target of 100 hotels by 2020, positioning Millennium & Copthorne as one of the fastest growing hotel groups in the region."