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Sat 10 Sep 2016 09:59 AM

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Deyaar inks deal to add 953 hospitality units to Dubai

Developer signs agreement with Millennium & Copthorne to operate three projects scheduled for late 2017, early 2018 completion

Deyaar inks deal to add 953 hospitality units to Dubai

Deyaar Development has announced a deal with global hotel group Millennium & Copthorne to operate three hospitality developments in the city, with a total of 953 units. 

The Dubai-based developer said in a statement that the move is part of its ongoing drive to support Dubai’s tourism and hospitality infrastructure needs. 

The strategic alliance with Millennium & Copthorne spans three of Deyaar’s current developments - a hotel and serviced apartments development in Al Barsha next to Mall of the Emirates, luxury residences at The Atria in Business Bay and premium serviced apartments at Montrose in Dubai Science Park.

All three developments are scheduled for completion from late 2017 to early 2018, Deyaar said.

The announcement follows a memorandum of understanding between Deyaar and Millennium & Copthorne signed in September 2015.

Millennium & Copthorne will manage and operate the developments’ hotel and serviced apartments, as well as provide consultancy services during the construction phase of the projects.

Saeed Al Qatami, Deyaar’s CEO, said the agreement with Millennium & Copthorne enables Deyaar to continue on a growth path in Dubai, expanding services and new builds for the hospitality sector.  

“The new developments will provide convenient overnight, short-term and long-term hospitality options for business and leisure travellers to Dubai. We have chosen our locations based on convenient access to the major business and transport nodes, including malls, metro stations and offices," he said.

Ali Hamad Lakhraim Alzaabi, president and CEO, Millennium & Copthorne MEA, added that the deal would expand the brand’s exposure in the UAE, and help drive economic and tourism growth.

“We are delighted to partner with Deyaar, a company of excellence in the real estate sector, to bring these exciting developments to the market. The projects will add to the breadth of Dubai’s hospitality offering, boosting the number of international standard, high quality hotel rooms and serviced apartment accommodation to meet rising demand," he said.

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