Omniyat starts work on Langham Place Downtown Dubai

Omniyat starts work on Langham Place Downtown Dubai Enabling works contract awarded to NSCC International Developer offers 20% guaranteed return over two years to investors
By: Omniyat Properties
 
DUBAI MEDIA CITY, UAE - May 16, 2016 - PRLog -- Omniyat starts work on Langham Place Downtown Dubai

Enabling works contract awarded to NSCC International

Developer offers 20% guaranteed return over two years to investors

Omniyat Group, a leading real estate developer in Dubai, has awarded the enabling works contract for its AED 1 billion ($272 million) Langham Place Hotel and Residences in Downtown Dubai.

Mark Phoenix, Managing Director, Omniyat Group, said: "The commencement of construction and award of the enabling contract to Dubai based NSCC is a significant milestone towards our commitment to completing our 2000 keys of Uber-luxury hotels and 5 star serviced residences before Dubai hosts expo 2020.  As a well-established curator of the world's greatest designers and hospitality brands it gives me great pleasure to see the Langham Place moving forward to take a special place within our $4bn development portfolio"

He added: "Mobilization work will begin in one week and will be complete in the first quarter 2017."

Omniyat Group is currently working on issuing the main construction works package tender and expects to award it by end of 2016.

To ensure investors get immediate return on their investment, Omniyat Group has unveiled a guaranteed income program that offers 20 per cent returns over the first two years of investment.

"The Langham Place Downtown Dubai meets two of the utmost requirements of HNWIs property investors worldwide - owning an ultra-luxury branded development, and being in the heart of the tourist and business centre. We are releasing our residential units for sale in Dubai and Doha on May 30th and are confident of a strong pick up from local, regional and international investors who appreciate owning a piece of one of our trophy assets," Phoenix emphasised.

Prime Location

Located in Dubai's dynamic central business district, Business Bay, The Langham Place offers panoramic view of Dubai Water Canal and offers easy access to Downtown Dubai, Mohammad Bin Rashid City, World Trade Centre and Dubai International Financial Centre.

The Langham Place hotel will cover an area of 9,028 square metres and have a built up area of 65,025 square metres. The project will include 167 hotel keys whilst the Langham Place Residences will have 239 fully-serviced five-star residences, ranging from deluxe to one, two and three bedroom suites, and duplex penthouses.

Residents will be offered an array of amenities including a swimming pool, state-of-the-art gymnasium, an enchanted Spa, children's facilities, food & beverage outlets, a business centre, housekeeping and room service and retail shops.

In August 2015, Omniyat Group and Hong Kong-based Langham Hospitality Group, a world-renowned company with 150 years of heritage in the hospitality sector, signed a deal to create the prestigious Langham Place Downtown Dubai.

The world-renowned and the epitome of luxury, Langham Place operates over 8,000 rooms in over 30 properties located in major cities over four continents.

About Omniyat Group

Omniyat Group is a Dubai-based, privately-held property development group that is committed to Dubai's vision of leading by design. It builds unique projects, at vantage locations within master communities and employs a consistent, bespoke approach in its project development, design and delivery. Omniyat specializes in creating large-scale collaborations with globally acclaimed architects, designers, artists and firms, to deliver its high value and desirable projects.

Operating out of its headquarters in "One by Omniyat" at Business Bay, the Omniyat Group has delivered projects worth AED 4 billion and has a pipeline of a further AED 12 billion in various stages of planning and development. Some of its prominent projects include The Opus by late Dame Zaha Hadid, The Sterling, and ONE at Palm Jumeirah, landscape architecture by Vladimir Djurovic and interiors
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Source:Omniyat Properties
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Tags:Omniyat
Industry:Real Estate
Location:Dubai Media City - Dubai - United Arab Emirates
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