{"id":52640,"date":"2017-04-23T20:15:48","date_gmt":"2017-04-23T13:15:48","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=52640"},"modified":"2017-04-23T18:32:15","modified_gmt":"2017-04-23T11:32:15","slug":"damac-to-build-2000-room-hotel-overlooking-akoya-oxygen-golf-course","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/damac-to-build-2000-room-hotel-overlooking-akoya-oxygen-golf-course\/","title":{"rendered":"Damac to build 2,000-room hotel overlooking Akoya Oxygen golf course"},"content":{"rendered":"


\nDamac Properties has announced plans to build a five-tower hotel comprising 2,000 hotel rooms overlooking its planned Trump branded golf course at Akoya Oxygen.The Dubai-listed developer known for its high-profile tie- up with the US president Donald Trump’s golf course operation, is marketing the hotel rooms to investors as off-plan investments at this week’s Arabian Travel Market exhibition.Off-plan prices for hotel room units in the project start at Dh395,000, payable over five years, according to Damac’s website.
\n“Investors will be pleased with the opportunity to own a hotel room on an international golf course that reaps higher returns than any other investment classes,” said Niall McLoughlin, senior vice president for Damac. “Owning a hospitality unit provides an attractive return on investment due to the burgeoning tourism industry and potential revenues that can be generated.”Estimating hotel yields in Dubai is not always straightforward as the idea of selling off individual rooms to investors is fairly new in the region, while existing hotels are often owned by private investors who seldom disclose the prices they paid for the properties.
\nLast year, Damac marketed freehold hotel rooms in its Aykon City development on Sheikh Zayed Road starting at Dh800,000, saying that they would provide an estimated 10 per cent return on investment.At the same time Bayut.com reported that studio flats in Dubai Silicon Oasis offered an 11 per cent return, while yields for studio flats in Dubai Sports City stood at 10 per cent.Cluttons estimated that office yields in Dubai can range from 6.5 to 9 per cent, while workers accommodation can offer yields of between 10 and 20 per cent.
\nAccording to Dubai’s Department of Tourism and Commerce Marketing, the number of overnight visitors coming to Dubai last year increased 5 per cent to 14.9 million. However, with the strength of the US dollar making it more expensive for many overseas visitors, the amount of money tourists paid each night fell by about 5 per cent.And, with CBRE estimating that another 35,000 hotel rooms and serviced apartments are due to be delivered before the end of 2019, analysts expect room rates to continue to fall.
\nlbarnard@thenational.aeFollow The National’s Business section on Twitter
\n
\nSource : thenational.ae
\nRead more…Damac to build 2,000-room hotel overlooking Akoya Oxygen golf course<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Damac Properties has announced plans to build a five-tower hotel comprising 2,000 hotel rooms overlooking...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-52640","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-dH2","jetpack-related-posts":[{"id":17742,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubais-damac-awards-dh3bn-of-contracts-in-first-half-of-2016\/","url_meta":{"origin":52640,"position":0},"title":"Dubai's Damac awards Dh3bn of contracts in first half of 2016","date":"June 26, 2016","format":false,"excerpt":"\r The Dubai developer Damac Properties said that it has awarded 25 construction and consultancy contracts worth Dh3 billion over the past six months.Damac said that contracts awarded during the first half of 2016 include construction contracts to build 2,678 villas within its Akoya Oxygen development and contracts to build\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1781,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/damac-to-build-five-new-14-storey-towers-at-akoya-oxygen-project\/","url_meta":{"origin":52640,"position":1},"title":"Damac to build five new 14-storey towers at Akoya Oxygen project","date":"January 17, 2016","format":false,"excerpt":"\r \r Damac Properties is planning to build five new 14-storey towers at the company\u2019s Akoya Oxygen golf course community off the Umm Suqeim Road extension on the outskirts of Dubai.Damac announced today that it has started to market apartments in its Dh850 million Navitas Hotel & Residences project at\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":11422,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/jacuzzi-or-sauna-damac-launches-hotel-spa-villas-in-dubais-akoya-oxygen\/","url_meta":{"origin":52640,"position":2},"title":"Jacuzzi or sauna? Damac launches hotel spa villas in Dubai's Akoya Oxygen","date":"April 26, 2016","format":false,"excerpt":"\r Damac is continuing its creative ways of attracting property buyers to Dubai with the launch of a collection of villas containing a private garden spa.The hotel spa villas are part of Damac's Akoya Oxygen project, on the Umm Suqeim Road, and provide buyers with a choice of Jacuzzi or\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1797,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-developers-emaar-damac-to-build-almost-2000-new-apartments\/","url_meta":{"origin":52640,"position":3},"title":"Dubai developers Emaar, Damac to build almost 2,000 new apartments","date":"January 17, 2016","format":false,"excerpt":"\r \r Two of Dubai\u2019s biggest developers are pressing ahead with plans to develop almost 2,000 new apartments despite weakening property sentiment.Emaar said on Sunday that it would start selling 750 apartments and 14 villas at its planned twin tower Harbour Views project in Dubai Creek Harbour next to the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1789,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-developers-emaar-damac-to-develop-almost-2000-new-apartments\/","url_meta":{"origin":52640,"position":4},"title":"Dubai developers Emaar, Damac to develop almost 2,000 new apartments","date":"January 17, 2016","format":false,"excerpt":"\r \r Two of Dubai\u2019s biggest developers are pressing ahead with plans to develop almost 2,000 new apartments despite weakening property sentiment.Emaar said on Sunday that it would start selling 750 apartments and 14 villas at its planned twin tower Harbour Views project in Dubai Creek Harbour next to the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":22378,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/damac-to-sell-off-plots-of-land-at-akoya-oxygen-project-in-dubai\/","url_meta":{"origin":52640,"position":5},"title":"Damac to sell off plots of land at Akoya Oxygen project in Dubai","date":"August 9, 2016","format":false,"excerpt":"\r Damac Properties is to start selling off plots of land at its Akoya Oxygen community in Dubai.The plots will have a starting price of Dh600,000 and Damac said that it will give investors up to 10 years to build on them. Last month, the company announced the launch of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/52640"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=52640"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/52640\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=52640"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=52640"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=52640"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}