Dubai – MENA Herald: DAMAC Properties announced today the launch of a limited release of hotel rooms within the iconic AYKON City project to be centrally located on Sheikh Zayed Road in Dubai’s Golden Quadrant, overlooking the Dubai Canal. The first-of-its-kind product allows investors to own a hotel room in Tower B, a 63-storey serviced hotel residences property to be operated by DAMAC Maison.
DAMAC Properties’ hospitality portfolio includes this 4-star hospitality brand created by the luxury property developer, borne out the demand for luxury accommodation. It is in line with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, to place the emirate as one of the most advanced cities in the world. With the economic competitiveness that Dubai is building, the already developed tourism sector will see a further and remarkable boost in the years to come.
The top 10 floors of the tower will house the 280 hotel rooms, while the remaining floors will comprise hotel apartments and serviced units. The rooms, which will be available for investors to purchase on March 12 at the Westin Hotel in Dubai from 3:00 pm to 10:00 pm, are expected to sell quickly due to the high-yielding investment opportunity they present and are priced at approximately AED 1 million.
Niall McLoughlin, Senior Vice President, DAMAC Properties, said: “With the upcoming Expo 2020 and other developments further reinforcing Dubai’s position on the world stage, we at DAMAC Properties understand how to appeal to investors with lucrative opportunities that are extremely relevant and one step ahead of the rest. With the number of visitors to the emirate expected to reach 20 million by the year 2020, hotel rooms will increasingly be in high demand, then and beyond, and this unique product allows investors to tap into and be part of the booming hospitality market.”
He added: “Owning a luxury freehold hotel room in a central location that benefits from the vast infrastructure that surrounds it, including accessibility by car, metro or water taxi, is undoubtedly a lucrative and prudent investment decision. The hotel rooms will be managed by DAMAC Maison, which is known to offer the service standards of the finest hotels, and boast elegant facilities with well-appointed rooms offering the comfort of home.”
AYKON City’s iconic project is comprised of Dubai’s first all-suites, 80-storey AYKON Hotel and Residences, a 63-storey DAMAC Maison Serviced Hotel Residences, a 60-storey apartment tower, a 65-storey office tower and two c. 30-floor ultra-luxury residential towers.
The four-million square feet development is located on the eastern and western sides of Sheikh Zayed road at the Safa Park intersection. It will join other iconic developments in the golden quadrant of the business district of the city such as City Walk, the Burj Khalifa, Emirates Towers and the Dubai International Financial Centre (DIFC) district.