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Ciel, Located In Dubai Marina, Will Surpass Another Dubai-Based Hotel, Gevora Hotel.
The 365-meter-tall Ciel Tower in Dubai Marina will be the next-tallest hotel building in the world. That will not be finished for another year. After that, the first visitors will begin to occupy their rooms. The Ciel replacing the Gevora Hotel, which is 356 metres high and situated on Sheikh Zayed Road. As the “tallest hotel tower in the world,” not much has changed for Dubai itself.
The Ciel hotel, designed by London-based architect NORR, will have more than 1,000 rooms, and an 81st-floor glass observation deck. Moreover, a recognizable rooftop Sky Terrace with only an Infinity pool. On a construction site while accelerating the project is expected to be finished in Q4 of 2023, and construction is going according to schedule. The second-largest engineering and construction company in the world by revenue, China Railway Construction Corporate entity, is the First Group’s main development partner. During the worst of the Covid disruptions, the project advanced significantly and achieved significant timeline milestones.
Location Benefits
Address Dubai Marina, Habtoor Grand Resort, and Wyndham Dubai Marina are just a few of the luxurious hotels. That can be found in Dubai Marina. According to Burns, Dubai Marina consistently outperforms the citywide average for hotel occupancy and revenue, as evidenced by the first half of this year. For instance, according to STR data, the Dubai Marina had the highest average occupancy rate in the city in March (which coincided with the end of Expo 2020 Dubai) at 93 % and a RevPAR of DH 1,107.
Given its profile, global buzz, and an unmatched combination of distinctive lifestyle, leisure, and F&B facilities. As well as the area’s stellar organizational effectiveness. We are extremely confident that Ciel Tower will exceedingly well obtained by the market when it opens in 2024.
Studios For Dh1 Million Plus?
Since the developer intends to sell hotel rooms, these might end up being among the most exclusive investment opportunities in the Dubai Marina neighborhood. In fact, studios in Ciel units are already listed in a number of real estate listings with prices starting at Dh1.3 million and higher. The “world record,” is the proximity to the Dubai Marina. In addition, the likelihood of long-term demand for hotels and other amenities in Dubai all serve to justify the premium.
However, a representative for The First Group asserted: “I can verify that Ciel will be a fully-operated hotel and that there will be no serviced apartments.” Although we have not made a final decision, interest is high in running it. As a business, we do not post our prices online. So we will address the private property you saw (listings).
Perks Of Hotel Investment
In Dubai‘s hotel sector, occupancy rates increased by 75%. Primarily due to luxury resorts and waterfront destinations, according to the consultancy JLL’s Q2-2022 UAE real estate market report.
The hotel rooms used by Ciel will also be open to investors. They have the option to purchase individual rooms or “fractional” ownership. According to the developer, “The First Group offers investment opportunities for its completely operated and managed hotel properties, expert asset managers’ advice, and support. Ensuring each property is best positioned to maximize occupancy rates, room rates, and profits for its investors.”
Dubai Lifestyle Elite Membership, a multi-tiered membership program based on the value of the investment. Thta is one of the additional benefits for investors. Up to five annual trips to Dubai are included in this membership. Along with options for free hotel room upgrades, access to beach clubs, dining specials, and a personal travel concierge. Get ready for the Ciel countdown.
