Abu Dhabi-based real estate developer Bloom Properties, a National Holding company, is set to offer furnished hotel apartments for sale at its Park View mixed-use development set to take shape in the university neighbourhood of Saadiyat in Abu Dhabi.

Starting the sale on June 15 at Rosewood Hotel Abu Dhabi, the project guarantees net yield of seven per cent per annum for the first three years of operation, said the UAE developer in a statement.

Rotana Hotel Management, one of the leading hotel management companies, will operate the project under an agreement signed with Bloom Properties earlier this year.

During the sales launch, Bloom Properties will introduce investors to the various benefits of the serviced luxury hotel apartment project, including its unique contemporary architectural style as well as competitive prices, which starts from Dh850,000 ($231,369).

The project, part of Park View mixed-use development in the university neighborhood of Saadiyat in Abu Dhabi, will feature 188 apartments comprising studios and one and two bedroom units.

Conveniently located close to major road networks linking Abu Dhabi’s key tourist destinations in Saadiyat and Yas Islands, the Park View development will feature design and architectural elements integral to urban upscale living, overlooking serene and breathtaking landscape.

Commenting on the sales launch, CEO Sameh Muhtadi, said: "Amid the unprecedented construction boom in Abu Dhabi and its fast paced emergence as a top global tourist destination, Bloom Properties is committed to meeting the growing demand for quality hotel facilities from the growing number of tourists, visitors and businessmen."

"Towards this end, we are developing a diverse range of hospitality projects that meet their evolving needs and expectations," he noted.

“What makes this project a truly unique investment opportunity is its central location on Saadiyat Island. Additionally, we offer our customers state-of-the-art design, stunning views, and a wide range of amenities and facilities that ensure convenience and comfort they deserve,” added Muhtadi.  

The project will comprise a range of commercial and leisure facilities including retail outlets, restaurants, a swimming pool, a gym and a fitness center.

During its participation at Cityscape Abu Dhabi 2015, Bloom had launched the hospitality component within the Park View development on Saadiyat, receiving overwhelming response from buyers and investors who were lured by the attractive rental yields and potential long-term price growth prospects of the project.

Bloom has to its credit today an established portfolio of world projects spanning education, hospitality, leisure and retail. The developer is also engaged in building a portfolio of sizable reals estate projects in key regional markets in the Middle East and other emerging markets.