DAMAC launches Sharia-Compliant Hotel Apartments
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.
For more information please contact:
Niall McLoughlin, Senior Vice President – Corporate Communications
Tel: +971 4 3732190
Fax: 00 9714 3732335