Tuesday 5 December 2023

Tameer inks property management deal

Dubai, May 31, 2014

Leading UAE developer Tameer has signed up Auris Group of Hotels, a Dubai-based multi-brand company, to manage and service its two-tower hotel apartments project, Imperial Residence.

Auris Group, which boasts of a solid presence in the UAE, Saudi Arabia and Oman, brings a wealth of experience in international standards of hospitality and extensive knowledge and understanding of the region’s feeder markets. It already manages five properties in Dubai alone.

Commenting on the move, Michel Sabbagh, the director of marketing, Tameer, said: "With Imperial Residence, Tameer is offering investors the opportunity to enter the fastest-growing segment in Dubai’s real estate market."

"Investments in hotel apartments offer a chance to buy a piece of the buoyant Dubai hospitality offering, thanks to the city’s credentials as a tourism, trade, investment and travel hub and promises long-term, growing returns to investors," he added.

"They also offer a convenient lifestyle and benefits of professional servicing and management to the end user, thus creating an ideal home for families," stated Sabbagh.

He pointed out that Dubai’s hospitality market was on an aggressive upward trajectory, on the back of a packed annual events calendar, a buoyant economy positively impacted by the Expo 2020 win, and Dubai’s Tourism Vision to welcome 20 million visitors per year by 2020.

According to figures released by Dubai’s Department of Tourism and Commerce Marketing (DTCM) in March 2014, the occupancy rate for hotel apartments was 82 per cent in 2013, up 6.5 per cent when compared to 2012.

Hatem Gasmi, the managing director of the Auris Group of Hotels, said: "Hotel apartments can generate lucrative returns to owners and investors. Imperial Residence by virtue of its strategic location, excellent amenity offerings and quality finishes will go a long way in creating value for all the stakeholders involved."

"All hotel apartments will come fully furnished with services and maintenance managed onsite," he added.

Imperial Residence houses 514 apartments, offering a wide choice of contemporary and spacious studios, 1, 2 and 3-bedroom apartments.

In addition, it offers a wide range of recreational amenities such as swimming pools and Jacuzzi; gymnasium with sauna, steam room, children’s play area, landscaped outdoor area, barbeque area, cafés and lounges, 24-hour security and undercover parking as well as the convenience of valet parking, concierge and housekeeping.

Imperial Residence also boasts a number of retail outlets conveniently located on the ground floor.

Overlooking Al Khail Road, the project’s strategic location offers easy access to Al Maktoum International Airport, the Expo 2020 site, Sheikh Mohammad Bin Zayed Road and several iconic Dubai developments, such as Mall of the Emirates, Ibn Battuta Mall, Emirates Hills and Arabian Ranches.-TradeArabia News Service

Tags: UAE | Tameer | Residential property |

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