Manazil Global Property Development, the Dubai based real estate developer, has announced the signing of exclusive partnership with the Real Estate broker Tamleek to be its exclusive sales representative in 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 appartments. 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 segments” in addition to the economic and touristic growth and the increase of tourists numbers to exceed 20 millions 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, the hotel site is 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 F&B outlets in addition to extensive meetings facilities, health clubs, spas and infinity swimming pools.
Dr Brian Etemad, CEO, Tamleek Real Estate Co,said:”Adagio Hotel Apartments is an open door for promising & rewarding investment opportunities in the hotel sector in the Emirate of Dubai. The fact that it will be operated by the largest hotel operator in the world AccorHotels benefiting from its strong global network deployed in over 94 countries around the world, would lead to the highest hotel apartments occupancy rate and the best price for the rooms all resulting in better financial returns for the investors.”
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. Now the investor is able to buy a hotel Room on a 100% freehold bases for investment purposes and with added benefit to stay in the accommodation for up-to 30 days for free every year during the holidays. The remaining of the unused periods in the hotel rental pool will be deposited for renting. The prices starting from AED 603,000 with guaranteed rewarding financial return of 30% over the first 5 years.”
In addition, the investor will not pay any maintenance or other fees related to water & electricity, cooling and cleaning, where all those costs are paid through a rental pool according to «Terhab» hotel management program for hotel assets.
And to improve efficiency and increase financial returns, operational and safeguard the rights of investors Terhab will supervise the performance of the hotel Management Company, financial planning, 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. Confident that with AccorHotels global network including more than 4,000 hotels in 94 country and recognized management experience Adagio will reward investors with the highest return on investment.”
Manazil Global Property Development is a UAE local company, with over 40 years in real estate development and who has 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.