Zenath Real Estate to develop AED 2 billion worth of Hotel, Commercial and Residential Projects in UAE

In line with its strategic growth and expansion strategy, Zenath Real Estate, one of UAE's leading property development companies and a part of the Khalid Abdullah Al Ghurair Group, has announced the launch of a string of new hotel, residential and commercial projects in the UAE worth AED 2 billion.

"Our host of upcoming hotels, residential and commercial projects will go a long way in further consolidating our presence in the highly competitive regional real estate industry. Having been present in this market for over 12 years, we fully understand the local market dynamics and the changing consumer preferences, which has enabled us to consistently build projects that offer the very best of quality, design and luxury," said S. M. Sadique, Group Director, Zenath Real Estate.

During the course of the next two years, 10 luxurious hotels developed by Zenath will be up-and-running across the UAE. Some of the hotels that will be part of this are the AED 60 million Landmark Inn 4-star hotel on Al Rigga Road, Dubai; the AED 150 million Landmark Palace Hotel also on Al Rigga Road; the Landmark Grande Hotel in Nasser Square; a 4-star hotel on Salahuddin Road; a 200-room 4-star hotel to be built at Dubai Investments Park (DIP) at a cost of AED 150 million; a 4-star hotel in Abu Dhabi; a 220-room hotel in Fujairah Corniche being built at a cost of AED 150 million; a deluxe service apartment in Ajman Corniche and a AED 175 million 4-star hotel near Dubai International Airport. These hotels are being constructed as lease projects, joint venture projects or as Zenath's own projects, and will be managed by the Landmark Group of Hotels which is a part of Zenath Real Estate.

Among Zenath's commercial and residential projects under construction are, The Central Park - an AED 175 million shopping mall at Dubai Investments Park; Nahda Enclave, AED 70 million residential complex in Dubai; AED 25 million showroom complex at DIP; a commercial and residential building in Port Saeed; a warehouse and factory at DIP and several other commercial and residential facilities in the commercial district of Deira.

"Zenath is continuously committed to address the ever increasing demand for quality commercial and residential projects in the UAE, owing to the country's position as the number one business and tourism destination of the region," said Sadique.

Landmark Hotels currently manage five properties, including three hotels in Dubai, one deluxe serviced apartment in Manama, Bahrain and a 4-star hotel in Kabul, Afghanistan. A differentiating aspect of the Landmark Hotel brand is that it operates in a Shariah-compliant manner.

"Our success in the UAE over the years has facilitated our entry into other regional markets like Bahrain and Afghanistan and we are on course to launch projects in Qatar and India. The hospitality and real estate sectors across the region are booming, and Zenath is keen to capitalise on this market situation by launching high quality projects in strategic locations that complement market demand," Sadique added.

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