Business & Money | Monday 29 August, 2016 9:24 am |

Manazil Global Property Development, the Dubai based real estate developer, has announced the signing of exclusive partnership with Tamleek Real Estate Co. to be its exclusive sales representative in the UAE for the Adagio Hotel Apartments in Dubai Jumeirah Village Triangle.

Engineer Abdul Mohsen Al Hammadi, CEO Manazil Group, developer and owner of the Hotel announced:” “We are pleased to partner with Tamleek on this exciting project, which is part of a new trio-cluster of properties located at the Jumeirah Village Triangle (JVT) bringing together a 164-room Majlis Grand Mercure, a 330-room Mercure, a 336-room Adagio and 110 furnished and serviced apartments. These hotels will tap into the evolution of the previously residential-focused community of JVT, which is witnessing the development of important corporate, leisure and MICE segment, in addition to the economic and growth in tourism with the expected increase of visitor numbers to exceed 20 million following the Expo 2020.

Al Hammadi added:” Adagio Hotel apartment is located in proximity to new attractions such as Al Khail Avenue and JVC Mall, with the hotel site being easily accessible from both Al Khail Road and Sheikh Mohammed Bin Zayed Road. The hotel is planned to open in 2019 and attract both families and corporate travelers, offering guests a unique water themed play area, a vast retail space, and multiple food and beverage outlets in addition to extensive meetings facilities, health clubs, spas and infinity swimming pools. 

 

Dr Brian Etemad Esq. CEO, Tamleek Real Estate Co. said: “Adagio Hotel Apartments offers promising and rewarding investment opportunities in Dubai’s hotel sector. The development, operated by AccorHotels, the largest hotel operator in the world, will benefit from its strong global network in over 94 countries. Hence, we expect high occupancy rates and competitive prices for the rooms, resulting in better financial returns for the investors. Our team, being experts in UAE property advisory are looking forward to introducing Agadio Hotel Apartments with its unique selling points to clients.”

Commenting on the investment opportunity that Adagio represents, Engineer Abdul Mohsen Al Hammadi, said: “Manazil Global Property Development presents a new and innovative concept in real estate investment through Hotel Room Investment where the investor is able stay in the room during holidays while the unused days for the rest of the year can be used for rental gains leading to guaranteed financial return of investment.”

 

Terhab will supervise the performance of the hotel Management Company, financial planning, and administrative and legal operations for these hotel assets for an effortless Investment for the clients.

 

Al Hammadi added: “We have carefully selected the most successful Hotel Operator worldwide. We are also confident that with AccorHotels global network of more than 4,000 hotels in 94 countries and their recognized management experience, Adagio will reward investors with the highest return on investment.”

 

Manazil Global Property Development is a local UAE company, with over 40 years in real estate development and who have executed and delivered 100% of the projects. Also MGPD is part of Manazil Group operating in sectors like Hotels and resorts, Medical Centers & Hospitals, Engineering Consultancy, General Construction, Property Management and Hotel Asset Management.