(MENAFN- Khaleej Times)Omniyat Dubai's leading privately-held real estate development group that creates livable art has announced its strategic alliance with Langham Hospitality Group a leading hotel operator with an extensive network of luxury properties worldwide to exclusively introduce Langham Place Downtown Dubai in Burj Khalifa District.
Langham Place Downtown Dubai will span a built up area of 680838 square feet. The Dh1 billion project ($273 million) will comprise the five-star luxury hotel and serviced apartments adding a total of 438 units to the hospitality sector in Dubai upon completion in 2018. The signing ceremony between Omniyat and Langham Hospitality Group took place at a Press conference in Hong Kong on Monday in the presence of Mahdi Amjad executive chairman and CEO of Omniyat and Dr Lo Ka Shui Executive Chairman of Langham Hospitality Group. Amjad said: "We are pleased to partner with Langham Hospitality Group to expand our portfolio in the region by introducing a new offering in the market. As a Dubai-based company we are committed to contributing to the city's definitive skyline with innovative real estate concepts. The launch of Langham Place Downtown Dubai therefore complements the emirate's strategic tourism vision to annually attract 20 million visitors by 2020. By then Omniyat will have delivered over 1500 hotel rooms and suites." Mark Phoenix managing director of Omniyat said: "Omniyat continues to develop projects that appeal to a very niche market segment. Dubai is still receiving demand for premium developments and we expect a strong response to the launch of the serviced apartments that will welcome global investors starting October 13 2015." Dr Lo said: "With Omniyat's vast experience in developing luxury properties with cutting edge architecture and design in Dubai we are delighted to manage this hotel in such a premium location in this dynamic city. Through this strategic partnership with such a renowned property development leader in the Middle East we look forward to creating a prestigious luxury lifestyle center that will add to the iconic skyline in Dubai." The announcement of Langham Place Downtown Dubai brings the total value of Omniyat's portfolio to Dh16 billion ($4.4 billion).
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.