Damac Properties has signed an agreement with Radisson Hotel Group (RHG) to develop and launch the Radisson Hotel, Dubai Damac Hills.
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The planned 481-key hotel property comprises one and two-bedroom units, and offers investors an opportunity to purchase units operated by the Radisson Hotel Group, with returns of up to six percent guaranteed for the first three years on their property investment, a statement said.
Elie Younes, executive vice president and chief development officer at Radisson Hotel Group, said: “Dubai continues to be remarkable in its never-ending evolution. We’re further delighted to introduce our new upscale Radisson brand that delivers its own Scandinavian-inspired hospitality to the region.”
Damac chairman, Hussain Sajwani, added:
“Our partnership with Radisson Hotel Group for this unique hospitality product will cater to the ever-growing number of tourists and business travelers who visit the emirate, while making sure hotel guests receive the world-class experience that’s synonymous with the Radisson name.”
Radisson Hotel Group portfolio features 81 hotels with more than 20,000 rooms in operation and under development across the Middle East region.
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