Hong Kong // The developer Omniyat has agreed a deal with Hong Kong-based hotel operator Langham Hospitality Group to open a new Langham Place hotel in the Business Bay area of Dubai.
The 680,838 sq ft site will contain a 167-room hotel and 271 serviced apartments – a total of 438 units. It will also have four food and beverage outlets, including an all-day dining restaurant and a rooftop bar. The building will complete in 2018.
Speaking at a signing ceremony at the Langham Hotel in Hong Kong, Omniyat’s executive chairman and chief executive Mahdi Amjad said Dubai is a city that has “evolved dramatically” over the past decade, with tourism numbers doubling over the past decade to more than 10 million, and a further doubling expected by 2020.
He said that Langham Place “adds another prestigious brand” to its portfolio, adding that it is currently developing properties with four hotels and more than 1,500 rooms.
Lo Ka Shui, executive chairman of Langham Hospitality Group, said he was confident about his group’s ability to fill the property despite the growing pipeline of Dubai hotels.
He said that the 100 million Chinese who made overseas trips last year were “just the tip of the iceberg” in terms of potential visitors, with more than 2.3 billion tourism visits made within China in the same period.
He added that Langham’s experience in Hong Kong shows that it can cater well to this market, stating that its hotel attracts around 50 per cent of its weekend visitors from Mainland China, compared to around 30 per cent within competitor hotels in the territory.
Omniyat now has a portfolio of properties worth about $4.4 billion, and Mr Amjad said that this has increased in size by around 25 per cent per year over year in the past two to three years. He expects to add a further $1bn to its portfolio by the end of this year.
“We will continue to grow as long as the region is growing and the demand is there,” he said.
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