Seven Tides to build Dukes Oceana on Palm Jumeirah
The 273-room hotel and serviced apartment complex is being built on the trunk of Dubai's Palm Jumeirah
Hospitality developer Seven Tides has announced that it is to build a new hotel and serviced apartments complex on Dubai's Palm Jumeirah under an agreement with the London-based Dukes hotel brand.
The 273-room Dukes Oceana hotel will contain a British restaurant, cafe and three bars and lounges, as well as an Asian restaurant.
The complex will also contain 185 studio and 42 one-bed apartments ranging in size from 286-834ft2, which will be available for sale to investors from next week. Prices start from $207,000 for a studio and go up to $680,000 for larger, one-bed spaces.
Seven Tides, which already operates serviced apartments at the Anantara The Palm complex on Palm Jumeirah, claims that it can guarantee a return on investment for buyers of 10% per annum for the first five years.
“Dubai continues to offer value for money even at the top end of the investment spectrum, especially when it comes to apartment square footage compared to other major metropolises such as London or New York," said its CEO Abdulla Bin Sulayem.
The hotel will be the first international property operated by the Dukes brand. Its flagship property is in the Mayfair area of London.