Omniyat to build $273m hotel project in Dubai
Real estate developer Omniyat has announced its strategic alliance with Langham Hospitality Group to exclusively introduce the Langham Place Downtown in Dubai.
Located in Burj Khalifa district, Langham Place Downtown Dubai will span a built up area of 63.1 square metres.
The $273 million (AED1 billion) project 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.
Mahdi Amjad, executive chairman and CEO of Omniyat, 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. The launch of Langham Place Downtown Dubai complements the emirate’s strategic tourism vision to annually attract 20 million visitors by 2020. By then, Omniyat will have delivered over 1,500 hotel rooms and suites.”
Mark Phoenix, MD 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.”
Langham Place Downtown's waterfront location will be in the heart of Downtown Dubai, offering views of the Burj Khalifa, The Dubai Water Canal and the The Dubai Mall. The 167-room hotel will provide easy access to Downtown Dubai, Mohammed bin Rashid City, Business Bay and the upcoming Dubai Design District.
The announcement of Langham Place Downtown Dubai brings the total value of Omniyat’s portfolio to $4.4 billion.
