Big momentum in the luxury real estate sector in Dubai

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Timothy Kelly, Executive Vice President and General Manager of Atlantis Resorts Dubai, revealed that last year saw an increase in the percentage of luxury apartments sold in Dubai’s new real estate icon “Atlantis The Royal”, which numbered 231 units, ranging from 35 to 40%, at approximately 99.5 This means that about 60% of the remaining units in the megaproject residential building were sold in 2021, reflecting the great momentum witnessed by the real estate sector of Luxury real estate in Dubai.

He stressed, in an exclusive statement to Al Bayan Al Eqtisadi, that the last apartment still offered for sale is a luxury penthouse at a price of 180 million dirhams.

With reputation

Kelly stressed that Dubai, in addition to its prestigious reputation in recent years, has gained in the last two years an additional fame on a large scale in the world, thanks to the achievements of the government, infrastructure development, improving the investment environment, facilitating committing. business and creating more promising investment opportunities and consolidating positive prospects for the economy, while tackling the consequences of the pandemic wisely and efficiently, as many companies and businessmen have relocated to Dubai, either permanently or temporarily, during the pandemic, thanks to the facilities it offers and the opening of its air connection to the world, praised the Dubai Government’s effective support to investors and businesses in meeting any challenge. He pointed out that the Atlantis hotel, The Palm hosted many guests who had stayed there for long periods, with the intention of doing business during that period.

Kelly explained that the grand opening ceremony of the “Atlantis The Royal” project, which has a total cost of 5.87 billion dirhams ($ 1.6 billion), will take place in the fourth quarter, from mid-November to mid-December. The first presentation of the building will take place in October.

The residential part, which includes 231 luxury apartments, makes up half of the large building, while the hotel occupies the rest, with 795 hotel rooms, and hotel reservations will open later in the summer.

Engineering miracle

Kelly stressed that the giant building is considered an engineering marvel, in terms of complex design, floor alignment and the surface of any room or apartment that is not repetitive. Distinctive art, specially designed, in addition to waterfalls penetrated by elevators to the upper floors, in addition to glass artwork, all of these will be popular sites for taking photos and videos on social media platforms.

Regarding the performance of “Atlantis, The Palm”, Kelly said that the hotel recorded during the first 8 months of last year, gradual recovery rates and with the arrival of October began to launch “rockets”, easing travel restrictions in Europe. , especially in the UK. .

The CEO and General Manager of Atlantis Resorts, Dubai, said the hotel recorded an unprecedented number of visitors to amusement destinations, be it the Aquaventure water park, restaurants and cafes, in addition to the number of guests at the hotel.

Increased spending

Timothy Kelly pointed out that large segments of guests tended to spend more on their hotel stay, such as booking a two-meal stay, or booking a larger hotel suite, or rooms that include entrance to the hotel. ” Imperial “and other halls. in addition to extending the period of stay.And this comes because people from all over the world want to celebrate their holidays, and enjoy as much of the travel vacation, following home restrictions during the pandemic period, noting that the average period and stays for European guests increased by 30-40% during the last quarter of last year and the first quarter of this year.

promising prospects

He stressed that the prospects for the current year are very promising and bookings continue to grow during the summer season at equal levels and sometimes even higher than was recorded before the pandemic.

In terms of pricing strategy, Kelly stressed that the pandemic period witnessed significant price reductions and the hotel relied on domestic tourism, which was a vital and important factor in continuing to operate, in light of the closure of world travel. in that time. From the fourth quarter, prices began to rise and currently, prices are 20% higher than pre-pandemic rates, in light of rising guest spending.

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