DAMAC Properties adds Two Further Hotel Projects in the Burj Area

Tourism

DAMAC Properties adds Two Further Hotel Projects in the Burj Area

Dubai, United Arab Emirates: 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 projectsare now welcoming residents and customers fromall 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 Propertiessaid: The opening of DAMAC Maison The Vogue and NAIA Breeze reflects the companys 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 theseserviced hotel apartments, DAMACs main flagship projects announced for hotels and luxury serviced residencesare: DAMAC Towers by Paramount, a four tower project in the Burj area includingParamount 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.