First Units in Dubai World Central to be Ready Ahead of EXPO 2020 Completion in Q2 2015; Starting Price of AED 610,000
DAMAC Properties, one of the Middle East’s largest real estate developers, is introducing the first luxury hotel apartments in Dubai World Central (DWC) to be completed in advance of Dubai hosting the Expo 2020 exhibition.
Launched for sales this morning with a starting price of AED 610,000, TENORA, is a 10-storey, 270 unit tower in the heart of the Dubai World Central site and will be completed in Q2 2015 to serve Al Maktoum International airport and professionals working to build the adjacent Expo 2020.
Construction is already well advanced and TENORA is strategically placed in DWC Residential City and close to the world’s largest airport, Al Maktoum International, offering a vibrant atmosphere in a prime location which is set to grow exponentially in the next seven years.
The government, quoting a report by consultancy firm Oxford Economics has estimated Expo 2020 will attract 25 million visitors over the six months and create around 277,000 jobs. Over the next seven years, Dubai and the UAE is set to benefit from an estimated US$6.9 billion (AED25.3 billion) in infrastructure projects. It forecasts a boost to gross domestic product of more than US$38 billion (AED140 billion), equivalent to around 44 percent of the 2012 total.
“Dubai’s Expo 2020 success will be the catalyst for future growth and investment in Dubai for the next seven years,” said Niall McLoughlin, Senior Vice President, DAMAC Properties. “TENORA is designed specifically to support the influx of people to the Dubai World Central area of Dubai – not only during the exhibition itself, but also the many thousands of people who will be working on the project in the lead up to the event.”
TENORA will be managed by DAMAC Maison, DAMAC Properties’ hospitality division, which will provide bespoke hospitality services to residents in 7,351 serviced hotel apartments by the end of 2017.
DAMAC Maison offers high-end hotel services within the property development sector, reflecting DAMAC Properties’ highest standards of quality, delivering the ultimate luxury lifestyle experience. Residents will enjoy a 24-hour concierge, maid services, kids club, café and luxury spa within the development.
“TENORA is a prime project, in a prime location with the personal service traditionally experienced only in the very best hotels in the world,” added McLoughlin. “This is the first opportunity to be own part of Dubai’s future with Expo 2020 a reality which will drive not only Dubai forward, but the whole region.”
Dubai World Central is a 140 km2 district centred on the Al Maktoum International airport delivering unrivalled connectivity, superb logistics and world-class infrastructure leveraging Dubai’s position as a leading global trade, business and aviation hub.