DAMAC Properties announced this week that it has completed
the DAMAC Maison de Ville Tenora hotel apartments in Dubai South.
Additionally,
the company announced that DAMAC Maison de Ville Celestia, another hospitality
project in the area, is nearing the end of construction.
“With Dubai’s strategic plan to create a key new hub for
business and investment — and complemented by world-class facilities — there will
naturally be a need for hotel accommodation in the center of this vital area of
the city,” Ziad El Chaar, managing director at DAMAC
Properties, said.
El Chaar noted that the apartment offerings at Tenora and
Celestia should attract tenants and buyers due to its strategic location at the
center of Dubai South. Because of this, the company expected a return on
investment by Expo 2020 Dubai.
“Tenora units are completed and
handed over while Celestia will be delivered in 2018, making them the premiere
completed projects in Dubai South and allowing investors the first opportunity
to benefit and reap the returns from such properties in this strategic
location,” El Chaar said.
