Mina Al Fajer picks Intermass for hotel
Dubai, October 16, 2011
Mina Al Fajer Real Estate, a leading property developer, has appointed top contracting firm, Intermass Engineering & Contracting to build its Fairmont branded hotel in Dibba, Fujairah.
Mina Al Fajer Resort presents a sustainable mid- to long-term investment opportunity for GCC nationals seeking an exclusive residence or simply a holiday home.
Purpose-built for high net worth individuals, the development offers a luxurious living experience set in natural splendour where the Hajar Mountains meet up with the vibrant Indian Ocean.
The resort features a marina, five-star hotel, sea-fronting mountain villas and luxury apartments.
The Fairmont Hotel represents the final phase of the Mina Al Fajer Development that will also be the source of retail outlets, restaurants and a range of other services to service residents and visitors to Fujairah.
The hotel will be managed by the distinguished Fairmont Hotels & Resorts, which will also manage the rental of Solarium villas that are available for renting by the general public. The completion of the hotel and adjacent marina will present residents the opportunity for various outdoor leisure activities.
“As we look forward to an accomplishment that is drawing ever so near, the next phase signals near completion, where every step has been a vindication of the achievement of years’ of hard work and commitment by each and every individual who has been engaged in the development from the very start,” said Ahmed Bin Ali Al Dhaheri, vice chairman of Mina Al Fajer Real Estate.
“Everything is in place and Fujairah’s new oasis is well on track for bringing in exuberant travellers to the emirate.”
Mahfouz Shuhaiber, managing partner at Intermass, said: “Our extended growth and expansion over the years has enabled us to meet the various requirements and demands of each client, and we look forward to working with Mina Al Fajer on a project that will unquestionably become a highlight on our portfolio.”
Al Dhaheri said that challenges that have arisen due to the financial crises have cut deep into the real estate sector by affecting the value of investments witnessed during the boom. This meant that contracts were previously awarded when costs were at their highest.
That is why some buyers tend to compare present-day retail unit prices with other resorts and /or regions, such as Dubai, which have suffered in the recession, he added.
“But the truth of the matter is that this development site is rather rare and unique. The completion of the man-made marina, scenic location nestled in the Hajjar mountain chain and proposed Fairmont hotel go a long way in making this a very special resort,” Al Dhaheri added.
With things underway, the hotel project is set to be complete in one year, which will mean the end of the bulk of construction work on the development.
In fact the apartments and Solarium Villas have already been handed over to buyers while the handing over of the Mountain villas is currently in process. – TradeArabia News Service