UAE-based DAMAC Properties has signed an agreement with Radisson Hotel Group (RHG) to launch Radisson Hotel, Dubai DAMAC Hills, on the Trump International Golf Club Dubai at DAMAC Hills.
The first Radisson-branded property worldwide to be located on a golf course, the 481-key hotel will comprise one- and two-bedroom suites and offer investors an opportunity to purchase units operated by the RHG with returns of up to 6% guaranteed for the first three years, on their investment.
DAMAC chairman Hussain Sajwani said: “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.
“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 is expected to welcome its first guests in the fourth quarter of 2019.
The hotel will have two restaurants, modern leisure facilities comprising a gym, spa, kids club and an outdoor swimming pool, as well as meeting space covering 600m².
Radisson Hotel Group executive vice president and chief development officer Elie Younes 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 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 travellers visiting Dubai.”
The Radisson Hotel, Dubai DAMAC Hills, is located in DAMAC’s 42 million ft² master community, DAMAC Hills, a gated, premium residential community in the heart of Dubailand.
Once completed, DAMAC Hills will consist of more than 4,000 luxury villas, 7,500 condominiums and more than four million ft² of greenery.