Omniyat awards deal for Downtown

Dubai - Dubai

By Staff Report

Published: Thu 19 May 2016, 8:38 PM

Last updated: Fri 20 May 2016, 12:01 AM

Omniyat Group has awarded the enabling works contract for its Dh1 billion Langham Place Hotel and Residences in Downtown Dubai.
Mark Phoenix, managing director, Omniyat Group, said: "The commencement of construction and award of the enabling contract to Dubai-based NSCC is a significant milestone towards our commitment to completing 2,000 keys of luxury hotels and 5-star serviced residences before Dubai hosts Expo 2020."

Mobilisation work will begin in one week and is expected to complete in the first quarter of 2017. Omniyat Group is currently working on issuing the main construction works package tender and expects to award it by the end of 2016. It has unveiled a guaranteed income programme that offers 20 per cent returns over the first two years of investment.
"The Langham Place Downtown Dubai meets two of the utmost requirements of HNWIs property investors worldwide - owning an ultra-luxury branded development, and being in the heart of the tourist and business centre. We are releasing our residential units for sale in Dubai and Doha on May 30," Phoenix added. -

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