Gemstone Real Estate Development (Gemstone) has signed a strategic partnership with Kempinski Residences S.A. (Kempinski) to manage and operate its new project: Kempinski Residences Business Bay.
Headquartered in Dubai, Gemstone is the property development arm of Al Rajhi Holding Group, one of Saudi Arabia’s leading business houses with interests in real estate, building materials, contracting, infrastructure and industry.
Its CEO Federico Tauber said: “The partnership with Kempinski is the start of a long-term relationship, as we entrust them with the management and operation of our five-star luxury serviced residences in Business Bay.
Kempinski’s chairman of the management board and CEO Markus Semer said: “Our new Kempinski Residences project enjoys an excellent location, complementing the Kempinski portfolio in Dubai perfectly.
With Expo 2020 fast approaching and the demand for five-star serviced residences expected to grow significantly, we look forward to welcoming residence owners and guests to this property.”
The project is expected to be completed by Q4 2019 and will offer fully furnished and finished serviced residences with views of Dubai’s famous landmarks.
The developer said there will be a wide choice of residence layouts, types and sizes. There is also a choice of three design styles for the interiors.
Investors can also opt for facilities such as a chef’s kitchen or a leisure deck with four pools, a sunset terrace and recreational area.
"Kempinski is pleased to be partnering with Gemstone on this exciting project," Semer added.
"Residence owners and guests will be able to benefit from luxury services during their stay, with additional tailor-made services available on request," he concluded.
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