April 26, 2017
Dubai’s Emaar announces six new projects. New hotels and residences include the Dubai developer’s first property in Abu Dhabi
Emaar Hospitality has announced six new projects, including its first in Abu Dhabi.
New CEO Olivier Harnisch revealed three new developments in Dubai – two as part of its Dubai Creek Harbour master development and Vida Residences in Dubai Marina. The other two will be in Egypt.
The Dubai-based developer has been noticeably absent from the UAE capital but today Harnisch said Emaar had partnered with Abu Dhabi developer Aldar Properties to create Vida Beach Reem Island Abu Dhabi.
Harnisch, who joined the group on March 1, described Abu Dhabi as “a high growth market”.
At Dubai Creek Harbour, Emaar is building both a 202-key hotel and 741 serviced residences under its luxury brand The Address. Sales for the apartments and suites have been launched.
It will also build a Vida hotel at Dubai Creek Harbour. The upscale lifestyle hotel will include
A Vida hotel and Vida Residences also will be built in Dubai Marina.
On Egypt’s north coast, Emaar is planning a 140-key hotel and 140 serviced residences with the The Address brand on Marassi Beach and Vida Marassi Marina.
Harnisch said Emaar was continuing its international expansion and also eyeing potential locations in India and China, two of its key source markets.
However, Dubai remained Emaar’s focus.
“We still see a lot of potential for growth in Dubai,” he said.
Emaar is also focusing on growing it mid-market offering with its new brand Rove. Three Rove have already opened in the past nine months, with another seven in the pipeline, including one at the World Trade Centre in the next few weeks.