Emaar Property’s hospitality division has been awarded a hotel management contract to operate a uniquely resort near the Masai Mara in Kenya, the Dubai developer announced on Tuesday.
The hotel will be operated under the five-star The Address Hotels + Resorts brand and will be company’s second hotel management contract in Africa, following The Address Marassi Golf Resort & Spa in Egypt.
The Kenyan resort near the Masai Mara is developed by The African Dream Collection and will be named Enkereri Mara by The Address Masai Mara. It is scheduled to open in 2013 and is located near the famous national park.
“The new management agreement of The Address Hotels + Resorts builds on the hub status of Dubai, connecting the fast-growing African markets with the rest of the world. With Emirates Airline linking Dubai to Nairobi and other African markets, Emaar’s newest expansion to Kenya will further strengthen business exchange as well as boost the tourism sector. Our expansion is a perfect fit to our strategy of exploring growth opportunities in key emerging markets globally,” said Mohamed Alabbar, Chairman, Emaar Properties.
The hotelier is likely to launch further residential projects in the Downtown Dubai area after its latest project sold out its entire residential portfolio of 542 units on the first day of sales, it was confirmed on Sunday.
All 542 units released for sale off-plan at the The Address The BVLD serviced residences were sold out on the first day, with customers queuing up to two days in advance to place an order at the Emaar Sales Centre in Downtown Dubai.
The Address The BLVD will have 200 hotel rooms and 542 serviced residences including studios, one, two, three and four-bedroom units. Prices ranged from AED1.1m (US$299,500) for a studio to over AED6m (US$1.6m) for a 4-bedroom unit.
Construction of the 63-storey tower is due to start shortly and is scheduled for completion in early to mid 2015.
With the success of The Address The BLVD project, an Emaar salesperson confirmed it was likely more projects would be launched in the area in the near future.
Earlier this year, Emaar launched ‘Panorama at The Views’, another residential project, which sold out its 224 units after one day, and Alma 2 at its Arabian Ranches development.
In July, Dubai’s largest real estate developer, said its profit more than doubled in the second quarter of 2012.
The firm posted a net profit of AED614m (US$167m) for the three-month period ending June 30, up from AED250m in the year-ago quarter.
Revenues at the company increased 3 percent to AED2.1bn.For all the latest travel news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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