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Damac Properties has signed a landmark agreement with Radisson Hotel Group (RHG) to develop and launch the ‘Radisson Hotel, Dubai Damac Hills’, its first, newly launched Radisson-branded property worldwide located on a golf course, the Trump International Golf Club Dubai at Damac Hills. The planned 481-key hotel property comprises of one and two-bedroom suites, and offers investors an opportunity to purchase units operated by the Radisson Hotel Group with strong returns of up to six percent guaranteed for the first three years, on their property investment.
“Dubai’s increasing appeal as a global tourism destination gives direct and indirect investors access into the sector’s growth, as Dubai is set to continue welcoming increasing numbers of tourists well into 2020,” said Hussain Sajwani, Chairman of DAMAC. “Our partnership with Radisson Hotel Group offers such investors a unique opportunity to invest with two globally recognized industry leaders, and own a part of this exclusive property.”
Radisson Hotel, Dubai Damac Hills is already under construction and set to welcome its first guests in Q4 2019. The hotel will have two restaurants, modern leisure facilities comprising of a gym, spa, kids club and an outdoor swimming pool, as well as meeting space covering 600m².
Elie Younes, Executive Vice President & Chief Development Officer, Radisson Hotel Group, said: “We are delighted to enter into partnership with DAMAC Properties, one of the most prominent and respected real estate developers in the region, and we appreciate their commitment and vision to develop such an exciting project.”
“We have seen Dubai continue to strengthen its position as one of the world’s most visited cities and remain firmly on track to meet its tourism objective of attracting 20 million visitors per year by 2020. We are further delighted to introduce our new upscale Radisson brand to the region, with its own mark of Scandinavian inspired hospitality which we are confident will appeal to the varied and evolving needs of international travelers visiting Dubai,” added Younes.
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