Constella to be 1st Hotel Apartments in Dubai to Receive Official Sharia-Certification
Dubai, United Arab Emirates: 5th May 2014: DAMAC Hotels, the hospitality arm of DAMAC Properties, has officially launched the first fully certified Sharia-Compliant serviced hotel apartments in Dubai during the Arabian Travel Market (ATM) Exhibition.
Constella is a luxury tower under construction in the thriving community of Jumeirah Village. The full management of the project will be carried out on Sharia principles and result in the issuing of a Sharia Certification by 'Dar Al Sharia'.
Although there are projects in Dubai that are alcohol free and claim to be Sharia compliant, Constella will also have separate swimming pools for men and women, separate gymnasiums and saunas. The restaurant will also have a single section for men and separate family section. There will also be dedicated floors provided for ladies that will be served by female only staff. In addition, Constella will also fully comply to Islamic financing principles, with all funds for the project managed by an Islamic Bank.
"DAMAC Properties is a Dubai company, which listens to market demands and we were keen to bring a fuly certified Sharia-Compliant product to the market for some time," said Ziad El Chaar, Managing Director, DAMAC Properties. "Constella presents a unique opportunity to invest in the Dubai real estate market in-line with the principles and beliefs of many of our customers, particularly those from the Kingdom of Saudi Arabia and here in the UAE."
El Chaar went on to acknowledge Dar Al Sharia and the Real Estate Regulatory Authority for their support in bring this product to market.
DAMAC Properties will be hosting an exclusive VIP event at DAMAC Maison - Dubai Mall Street, opposite Dubai Mall in the Burj Area, on 6th May 2014 from 10.00am to present the project and release a select number of units at pre-launch prices.
Prices for Constella start at AED 702,000 and will be completed by 2017.
Each Constella unit comes complete with a fully-fitted kitchen and daily housekeeping services, with access to a restaurant, kids club and swimming pool.
DAMAC Properties is exhibiting at stand HC5560 in the Sheikh Saeed Arena through ATM, which runs until 8th May 2014.
DAMAC Properties has delivered 9,318 units to date and currently has a development portfolio of over 25,000 units at various stages of progress and planning as of December 31st 2013.
Further information is available at www.damacproperties.com
-Ends-
About DAMAC Properties:
For over a decade, the real estate portfolio of DAMAC Properties has been at the forefront of the Middle East's luxury real estate market. With an enduring passion for design and quality, the company has built a reputation for creating some of the most iconic and desirable properties in the UAE, Qatar, Saudi Arabia, Iraq, Jordan and Lebanon.
Established in 2002, DAMAC has delivered 9,318 units to date and currently has a development portfolio of over 25,000 units at various stages of progress and planning as of December 31st 2013.
Always at the forefront of visionary concepts, DAMAC has relationships with Paramount Hotels & Resorts, (the official licensee of Paramount Pictures), Italian fashion houses Versace Home and FENDI Casa for branded residential apartments and villas and The Trump Organisation for the development and operations of the Trump International Golf Course, Dubai and The Trump Estates within the AKOYA by DAMAC development.
In May 2013, DAMAC Properties introduced the 'AKOYA by DAMAC' master plan development in Dubai. This includes mansions, villas, luxurious apartments and a retail centre all surrounding 'The Trump International Golf Club. Within the AKOYA by DAMAC, products include 'The Trump Estates', a limited collection of 100 luxurious mansions. Also set within the heart of the community is a global first, with the launch of FENDI fashion-styled villas. AKOYA by DAMAC is also the home of Golf Veduta - serviced hotel apartments and DAMAC serviced Villas by Paramount Hotels and Resorts.
As a global leader in branded real estate, the company is also developing a US$1 billion hotel and luxury serviced residences in the Burj area of Dubai, called 'DAMAC Towers by Paramount', which will comprise the first Paramount Hotel & serviced Residences in the region.
Within the hospitality sector, DAMAC's in-house hospitality team is responsible for managing the Company's growing portfolio of leisure assets in its serviced hotel apartment developments. The division provides complete hospitality management through its own hospitality operating companies 'DAMAC Maison Hotels and Hotel Apartments and NAIA by DAMAC.
As DAMAC continues to innovate and bring new concepts to the market, the Company is determined to build on its powerful performance to date. With vision and momentum, DAMAC is building the next generation of Middle East luxury living.
In addition to support services provided by the Dubai headquarters, the company's comprehensive Customer Care Program provides solutions through its network with offices in the UAE, Jordan, Iraq, Lebanon, KSA and Qatar.
Further information is available at www.damacproperties.com or join DAMAC Properties on Facebook, Twitter (@DAMACOfficial) and YouTube.
For more information please contact: Niall McLoughlin, Senior Vice President - Corporate Communications, DAMAC Properties. Tel: +971 4 3732190 │ Fax: 00 9714 3732335 │Email: niall.mcloughlin@damacgroup.com
© Press Release 2014
