New Italian-style luxury hotel apartments launched in Dubai
Dubai-based developer Arthur & Hardman has launched a new premium Italian-style luxury property in Jumeirah Village Circle.
Milano by Giovanni Boutique Suites consists of 124 fully furnished hotel apartments and is scheduled for completion in June 2018.
Samir Salya, Chairman of Reign Holdings (formerly Salma Group), the parent company of Arthur & Hardman, said the 18-floor-development is expected to be completed at an estimated cost of AED125 million.
Hotel apartments will have internationally recognized 4-star facilities and will be managed by a leading international hotel operator.
“This means, investors will have all the amenities and luxury they enjoy in leading hotels and at same time they would be able to call it ‘home sweet home’,” Salya said.
Apartment prices will range from AED499,000 for a studio and up to AED1.3m for a 2-bed hotel apartment. The developer offers buyers a flexible payment plan of 50 per cent until completion and 50 per cent at handover.
“We have started sales for the property, where buyers can either purchase the unit as an end-user, or rent it out, or hand it over to the hotel operator. The unit will go to a rental pool and the income will be divided among owners based on their unit’s area,” said Salya.
The developer’s first project in the UAE, Roma Giovanni Boutique Suites, a 400 furnished apartments-development, was delivered in Dubai Sports City in 2015.
Arthur & Hardman says it has other projects in various stages of development in Dubai. These include residential towers, hotels and iconic skyscrapers in Dubai Marina, Meydan, the Business Bay and DWC.
It is also planning the third of boutique suites named after Italian cities, Naples by Giovanni Boutique Suites, in Jumeirah Village Circle and has plans to launch a further 10 projects in the next 24 months.