Skai sees $252m sales for upscale Dubai hotel
Dubai, August 6, 2014
Skai Holdings, a Dubai-based real estate investment company, has secured Dh927 million ($252.4 million) worth of sales for its new Dh1.2 billion four-star hotel, Suites in the Skai, in Dubai’s Jumeirah Village Circle.
Skai Holdings officially launched the project in June and has already sold all available hotel rooms and serviced apartments in the 60-storey tower, a statement said.
The remaining areas such as the food and beverage outlets, meeting rooms, spa and retail will be retained by the developer, it added.
Located in close proximity to three of Dubai’s arterial roads – Al Khail Road, Sheikh Mohammad Bin Zayed Road and Hessa Street – and a short drive from Dubai’s new Al Maktoum International Airport, Suites in the Skai will comprise 234-hotel rooms, 234 one-and-two bedroom apartments and 33 penthouses.
Suites in the Skai will feature breathable architecture allowing sunlight to shine through the core of the tower and a vertical microclimate design with over half a million sq ft of flora, naturally helping maintain the temperature.
Lush green balcony-gardens and 271 sky-high swimming pools add to the sense of nature while floating bathtubs, floor to ceiling windows and panoramic views across the city provide the ideal cosmopolitan backdrop. The project also features a supermarket located on the podium level.
Construction on Suites in the Skai will begin in September 2014 with operations due to commence in 2017. China State Construction Engineering Corporation (Middle East) has been appointed the main contractor. Atkins has been appointed lead consultants and architects while Tokyo-based Nao Taniyama will design the interiors and Australia’s TOPO Design Studio the landscaping.
Five-star hotel rooms account for around two thirds (64 per cent) of Dubai’s total hotel inventory, significantly above that of other key cities around the world such as London (32 per cent) and Singapore (33 per cent), according to STR Global.
Dubai has announced a number of incentives for three and four-star hotel developers as it looks to attract 20 million visitors annually by 2020. Enticements include waiving Dubai Municipality’s one per cent zoning fee and a waiver on municipality fees if a construction permit is obtained between October 1, 2013 and December 31, 2017.
“Dubai is one of the most exciting markets for hospitality and real estate globally. The city is expecting 20 million visitors by 2020 and this together with its growing population and strong economic outlook will see the sector continue to flourish,” said Jabir Mulchandani, Group CEO of Skai Holdings.
“Led by the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai, the city has invested in key infrastructure that will continue to attract tourists beyond the Expo 2020. Skai Holdings sees a great deal of potential for upscale four-star concepts, which is one of the hospitality industry’s most resilient sectors.
“Suites in the Skai will cater to the growing number of business and leisure tourists that are looking for value for money as well as comfort and convenience in a luxurious setting. Skai Holdings’ strategy is to build high quality hotels in several key locations in Dubai that will cater to the growing demand for tourism in the emirate,” he added.
Suites in the Skai’s unique tri-star wing structure allows for each room and apartment to incorporate a vast landscaped garden. Conceptualised in-house by architect Nabil Akiki, CEO of Real Estate Development, Skai Holdings has filed a patent for the distinctive design.
The 117 one-bedroom hotel apartments will come complete with an outdoor sky garden and Jacuzzi while the 117 two-bedroom apartments include an 18 sq ft sky swimming pool and floor to ceiling windows with cascading water. With a ratio of seven sq ft of garden to every one sq ft of land, guests will be able to step into a garden of tranquility and swim while enjoying the views of the Dubai skyline, 888 ft below.
The hotel will also house 33 state-of-the-art penthouses, boasting 225 ft of frontage, the largest of any apartment in town. Located on the upper floors, the four-bedroom, 3,000 sq ft apartments will include a 2,600 sq ft lush sky garden with a soil depth of 4.2 ft, allowing for trees to be planted, a full-size outdoor swimming pool and Jacuzzi accommodating up to eight people.
Suites in the Skai will include five dining venues hosted by world-class chefs, including an all-day dining concept, a lobby café, pool bar and grill, sports bar and a rooftop Chinese restaurant. Other amenities include paddle tennis, state-of-the-art gymnasium, fitness centre with outdoor yoga terrace and lavish swimming pool, sauna and steam room and boutique spa. The tower will also include 17,000 sq ft of retail space, a five-level podium car park, meeting facilities, kids club and a putting green. – TradeArabia News Service