Omniyat Group, a leading luxurious real estate developer in Dubai, has awarded the enabling works contract for its AED 1 billion ($272 million) Langham Place Hotel and Residences in Downtown Dubai.
Mark Phoenix, Managing Director, Omniyat Group, said: “The commencement of construction and award of the enabling contract to Dubai based NSCC is a significant milestone towards our commitment to completing our 2000 keys of Uber-luxury hotels and 5 star serviced residences before UAE hosts Expo 2020 Dubai. As a well-established curator of the world’s greatest designers and hospitality brands it gives me great pleasure to see the Langham Place moving forward to take a special place within our $4bn development portfolio”
He added: “Mobilization work will begin in one week and will be complete in the first quarter 2017.”
Omniyat Group is currently working on issuing the main construction works package tender and expects to award it by end of 2016.
To ensure investors get immediate return on their investment, Omniyat Group has unveiled a guaranteed income program that offers 20 per cent returns over the first two years of investment. Email here for further details.
“The Langham Place Downtown Dubai meets two of the utmost requirements of HNWIs property investors worldwide – owning an ultra-luxury branded development, and being in the heart of the tourist and business centre. We are releasing our residential units for sale in Dubai and Doha on May 30th and are confident of a strong pick up from local, regional and international investors who appreciate owning a piece of one of our trophy assets,” Phoenix emphasised.