DAMAC Properties Opens First NAIA Hotel Apartment

May 5, 2015

NAIA Breeze Opens in Burj Area – Two More NAIA Hotel Apartments to be Completed in the Heart of Dubai World Central

Tenora to be Completed Early Next Year in the Heart of Dubai’s New Hub; New Metro Line to Provide Key Connectivity

The first NAIA Hotels and Hotel Apartments project has opened its doors in the heart of the Burj Area of Dubai. NAIA Breeze, a 342-key luxury project with five-star service standards overlooks the canal to one side and the world’s tallest tower to the other.

Speaking from the Arabian Travel Market (ATM), executives from DAMAC Hotels & Resorts – the management arm which runs the NAIA brand – said that two further hotels will be completed in the next couple of years which will serve Dubai’s new central hub around Al Maktoum International Airport and the site of the Expo 2020.

NAIA Tenora is a 10-storey, 270 unit luxury hotel apartment project with a swimming pool, gymnasium, designer boutiques and coffee shops which will open in time to serve the predicted 277,000 employees working at the airport and preparing for the World Expo.

“The Dubai Metro is to be extended 15km, adding seven new stops on the way to Dubai World Central and driving real estate valuations in the area up, but as much as 25%,” said Niall McLoughlin, Senior Vice President, DAMAC Properties. “Construction on NAIA Tenora is progressing well and is set to be handed over to owners at the start of 2016.”

With NAIA Tenora opening next year, it will present an attractive investment opportunity to drive strong rental returns from people working on one of the biggest infrastructure projects in the world, the company said during the show.

“The Dubai World Central district is set to be one of the most impressive construction projects in the world over the next five years and the news that the Metro line will now run right outside the project significantly improves the connectivity to the area,” said Niall McLoughlin, Senior Vice President, DAMAC Properties. “NAIA Tenora offers a luxury lifestyle experience on the doorstep of the world’s biggest airport hub and moments from the new World Expo 2020 exhibition site. Combining luxury and location, we believe NAIA Tenora is the ideal investment property with strong potential for impressive rental returns to provide ideal accommodation for those working on the project.”

The internal partition blockwork has been completed with the block works finished on the 1st & 2nd floor and substantially complete on the 3rd floor. MEP works are also complete on the 1st & 2nd floors with plastering work well underway and the windows are now being installed.

DAMAC Properties is also working on a second project in the area, NAIA Celestia, which be handed over to owners in 2017. A ground plus seven floor complex comprising luxury hotel apartment studios, one and two bedroom apartments, NAIA Celestia is an iconic project in the centre of Dubai World Central.

The modern, architectural design inspires an opulent residential lifestyle, incorporating modern, sleek finishes in a warm, welcoming layout. NAIA Celestia also comes with a state-of-the-art gymnasium and health & fitness club, as well as a plus swimming pool, and luxurious spa.

NAIA Celsetia also has its own retail area, with designer boutiques, fine dining restaurants, and an attractive retail avenue.

Work is already well underway and National Piling has completed all excavation and piling work, with the dewatering process already started.

“NAIA Celestia is the jewel in the crown development in the area,” added McLoughlin. “Luxury 5* standard services and furnishings will create a luxurious atmosphere within a key location of new Dubai.”

As of March 31st 2015, DAMAC Properties has delivered almost 14,000 homes and has a development portfolio of over 37,000 units at various stages of progress and planning.