Consumer spending has remained strong throughout the pandemic period despite volatile global macro-economic environment and similar trend is expected to continue this year
Dubai Investments, a leading investment company listed on the Dubai Financial Market (DFM) has signed a deal with Millennium Hotels & Resorts to open ‘Grand Millennium Resort, Danah Bay – the group’s latest flagship freehold project located at the heart of the Marjan Island.
Khalid bin Kalban, vice-chairman and CEO, Dubai Investments' and Fahad Abdulrahim Kazim, CEO of Millennium Hotels & Resorts, Middle East & Africa, signed the agreement.
The 300-room hotel will be operated under the Grand Millennium brand and positioned as an upper upscale resort with exciting specialty dining options and a host of beach recreational facilities. The hotel is estimated to be completed by fourth quarter of 2025.
Khalid bin Kalban said the tourism sector in Ras Al Khaimah has been enjoying a period of growth and profitability and has chalked out several ambitious plans to continue the growth of this sector.
"Over the years, Dubai Investments has maintained a healthy portfolio of hotel projects through its mixed-use developments and the inclusion of Grand Millennium Resort - Danah Bay is another perfect addition," he said.
"Positioned among the list of promising hotel projects that will benefit from the mixed-use development features and the ideal location of the project, the upcoming hotel will optimally leverage the growth phase of Ras Al Khaimah especially in meeting accommodation needs, with a particular focus on the luxury travel and the MICE segments,” he said.
Fahad Abdulrahim Kazim said the project is part of the group's ambitious development plans in the region, with a focus on expanding in key locations and growing our resort portfolio.
"We are also thrilled to bring our upper upscale Grand Millennium brand to this prestigious location in Marjan Island and make a positive contribution to this flourishing destination in Ras Al Khaimah. Danah Bay provides the perfect platform to deliver an exciting lifestyle resort experience to both regional and international guests,” he said.
Millennium Hotels and Resorts is a global brand which owns, manages and operates a unique range of over 145 hotels, in 80 locations across its portfolio of distinct brands. Its presence extends across the Middle East, Asia, Europe, North America and New Zealand.
Ideally located within Danah Bay, a premium beach community and a perfect resort-style retreat, setting new standards in the emirate of Ras Al Khaimah, the upcoming hotel is designed to offer an enriching recreational experience with exclusive beach access to the guests and the visitors.
— muzaffarrizvi@khaleejtimes.com
Consumer spending has remained strong throughout the pandemic period despite volatile global macro-economic environment and similar trend is expected to continue this year
The rising population is contributing to the launch of new projects and increased supply of residential units in Dubai
Central banks added a whopping 1,136 tonnes of gold worth some $70 billion to their stockpiles in 2022, by far the most of any year since 1967, according to the WGC report
The free zone is the ideal hub for healthcare manufacturing and distribution
Visitors and fans can experience and interact with the newly-unveiled devices, latest innovations, and gain first-hand experience
The forensic financial research firm released a report that accused the conglomerate of improper use of tax havens and flagged concerns about its debt levels
The Hindenburg effect caused the business tycoon to lose $8.21 billion in the last trading day
Daymond John and Robert Harjavec will share their expertise at SIF's ‘Investor Lounge’, which will bring together a group of government officials, directors and CEOs, providing the attendees with a unique opportunity to network and share knowledge about sustainable business practices and achieving long-term goals