Emaar Properties plans to supply serviced apartments at Al-Majara, Dubai Marina and the Residence at Burj Dubai Development. The company has joined forces with the Ascott Group, the largest international serviced residence operator in Europe and Asia Pacific.
A Memorandum of Understanding (MOU) was signed yesterday by CEO of Emaar Properties AJ Jaganathan and CEO of the Ascott Group, Eugene Lai. Some 96 apartments in the Al-Majara Towers in Dubai Marina and approximately 150 apartments in the Residence at the Burj Dubai Development will be serviced upon completion, starting in November 2004 and the fourth quarter of 2005 respectively.
Al-Majara Towers is a five building residence comprised of high rise waterfront apartment towers which overlook the largest bay of water at Emaar’s master planned Dubai Marina development. Amenities at Al-Majara will include a 15,000 square foot super resort spa and fitness club, Hollywood-style movie theater, business center, lounge facilities, guest suites, elegant landscaped courtyards, reflecting pools and private secured gardens, underground parking, spacious entrance lobby and 24-hour concierge and security.
Ascott will also service a tower at the Burj Dubai Development, which is expected to open in the fourth quarter 2005. The residence will be part of EMAAR Properties’ most ambitious project to date - the Burj Dubai - slated to be the world’s tallest skyscraper; and Dubai Mall, the world’s largest retail complex at nine million square feet, when completed in 2006. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
