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A new luxury management company has been set up to provide hotel management services for DAMAC Properties’ elite serviced hotel apartments.
Recently launched by DAMAC Properties, DAMAC Maison will manage the elite and most desirable hotel apartments within the more than 4,000 serviced apartment units the Middle East’s leading luxury developer will have under construction or operation by the end of 2013.
DAMAC Maison offers high-end service capabilities within the property development sector, reflecting DAMAC Properties’ highest standards of quality, delivering the ultimate luxury lifestyle experience.
“DAMAC Maison provides a lifestyle and level of comfort aspired to by so many,” said Niall McLoughlin, Senior Vice President, DAMAC Properties. “Everything in your life will be taken care of to the most exacting standards of professionalism and refinement with our highly qualified service team.”
All properties under the DAMAC Maison portfolio will include a luxurious and peaceful spa, high-end restaurants, stunning lobby areas with meeting space, a kids club & baby-sitting service, with dedicated and qualified staff, and fully-fitted kitchens throughout.
The service also offers luxuries including in-room hair & nail treatments, 24-hour room service; an internationally-renowned chef who will cook for you in your apartment, personal shopping consultants and a team to arrange all overseas travel arrangements on your behalf.
“From daily fresh sheets and towels with 1,000 count cotton, through to arranging overseas trips, booking exclusive experiences for the whole family and luxurious spa services in your own property, DAMAC Maison is ready to welcome you home,” added McLoughlin.
All apartments managed by DAMAC Maison offers stunning views across the Burj Khalifa Area in the heart of Dubai, one of the most sought after locations in the world, with iconic architecture incorporated into each living space.
The increased availability of luxury hotel serviced apartments in Dubai is making the UAE one of the most lucrative investment channels for hotel investors in the world.
Consultancy firm Cushman & Wakefield has placed Dubai among the top 25 destinations in the world for global hotel investments. The research stated that ‘investors will focus on core – often trophy – products leased to top branded operators with proven income streams, and consequently the gap between the first tier and the rest of the market is likely to widen further’.
Consultancy Knight Frank also recently issued a report which showed properties in Dubai obtaining double-digit price growth in 2012, placing it among the top cities in the world alongside Miami and London.
Hotels in Dubai saw 80 per cent occupancy in 2012, with revenue per available room (RevPAR) at US$ 228 and US$ 285 in average daily rate, some of the highest returns in the world, according to TRI Hospitality Consulting. The number of tourists to Dubai is also climbing fast, with a Bank of America/Merrill Lynch report predicting 15 million tourists by 2020, up from eight million in 2011.
Due to usage trends of customers who buy luxury serviced apartments DAMAC Maison will offer investors an attractive return on their apartment in the months they do not reside through a rental pool programme managed by DAMAC Maison.
“The rental pool scheme makes it very simple for residents to earn strong rental returns without the hassle of sourcing short-term tenants. DAMAC Maison will look after the whole process and pass on the income generated.”
‘The Signature’ – a 50-storey tower over-looking the world’s largest fountain and world’s largest mall – will be the first project to be managed by DAMAC Maison. The project, which will be completed in the second half of this year and is on target to set the standard of luxury serviced apartments in Dubai.
“DAMAC Properties is taking a leading role in bringing luxury serviced living to Dubai. It is a key sector which offers opulent luxury from within your own home and allows you to generate rental returns while you are away. All this in one of the most desirable locations on earth – what more could you need from a medium to long-term investment?”
DAMAC Properties has completed 37 buildings to date with 7,817 units and spanning 13,945,299.00 sq feet. DAMAC Properties also has a further 66 buildings at various stages of progress across the Middle East and North Africa region. These consist of 12,100 units.