Emaar launches new Address hotel project in Downtown Dubai
Emaar Hospitality Group has announced its second hotel project this month. The upcoming property named Address Fashion Avenue, is the group's 28th hotel project.
It is located directly opposite the Burj Khalifa and linked to the Fashion Avenue in The Dubai Mall that is currently being expanded.
Address Fashion Avenue will feature the 167-room Address Fashion Avenue hotel and Address Residences Fashion Avenue with 78 high-end residences. This new project also marks the group’s 20th hotel project under the Address Hotels + Resorts brand, and the 12th Address project in Dubai.
With two other hotel brands, Vida Hotels and Resorts, and Rove Hotels, Emaar Hospitality Group now has 11 operational hotels and 28 hotel projects in the pipeline in Dubai and international markets including Saudi Arabia, Bahrain, Egypt and Turkey.
As the name suggests, Address Fashion Avenue will focus on its ‘fashion connection’ with a contemporary design and elegant architectural features.
Olivier Harnisch, chief executive officer of Emaar Hospitality Group, said: "The hotel and serviced residences will appeal to those value exclusivity, love fashion and wish to make a personal statement on their preferences and aspirations. With Dubai fast evolving as a global fashion hub, the project will appeal to the trendy and trend-setters. Address brings enriching experiences for our guests, and we will continue to enrich their lives with luxury, style and elegance."
Emaar Properties recorded $1.4bn (AED5.2bn) in net profit for 2016, 28% higher than 2015's $1.1bn (AED4.08bn). The company's revenues in 2016 amounted to $4.2bn (AED15.5bn), a 14% year-on-year (YoY) hike over 2015's revenues of $3.7bn (AED13.6bn).