Building on the growing property sector in Dubai, Emaar Properties PJSC has launched its hotel and serviced residences in Downtown Dubai. Namely aptly as The Address The BLVD, the property features 200 hotel rooms and 542 serviced residences. In addition, will be the hotel adding another 63 floors and will be the second tallest building in Dubai, after Burj Khalifa.
The project is scheduled to be completed by early to mid-2015. Commenting on the development, Ahmad Al Matrooshi, Managing Director, Emaar Properties, said: “The launch of The Address The BLVD is a strong reiteration of positive growth trends in Dubai’s real estate sector, led by the significant increase achieved in tourism, hospitality, retail and foreign trade. With the Address hotels in Dubai recording average 85 to 90% occupancy throughout the year, The Address The BLVD will further complement the city’s hospitality sector growth.”
This year, Dubai has already recorded growth in passenger arrivals with the Dubai International Airports welcoming over 27.9 million people in the first six months. The hospitality sector, simultaneously, has witnessed a growth of 9% in guest arrivals and over 22% in the number of guest nights in the first quarter of the year.