Emmar To Give Another Address Hotel To DubaiMonday, September 17, 2012
Emaar Properties, the iconic real estate developer, will build the sixth addition to The Address Hotels, The Address The BVLD, a five-star premium hotel and serviced residences.
It will be another ravishing addition to Dubai’s skyline. The 63-storey hotel is 340 metres high and will be the second tallest building in Downtown Dubai, after Burj Khalifa. The hotel will feature 200 hotel rooms and 542 serviced residences that include studios, one, two, three and four bedroom serviced residences. The completion date is announced to be early to the mid 2015.
According to the project’s spokesperson, the launch of this project shows that Dubai real estate market is back on the path of recovery and the robust gains have been recorded by the city’s tourism and hospitality sectors.
The spokesperson refused to give the value of the project but he disclosed the fact that the finance for this project has been managed through the pre-sales of the serviced apartments.
Serviced apartments are the most demanded types of property nowadays. With this project, investors have the opportunity to become a part of Downtown Dubai, the city’s most sought after destination.