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Kempinski Residences to operate Business Bay tower

The project is expected to be completed by Q4 2019 and will offer luxuriously furnished serviced residences with views of many of Dubai’s famous landmarks

From left to right - Federico Tauber, CEO Gemstone and Markus Semer, chairman and CEO of Kempinski.
From left to right - Federico Tauber, CEO Gemstone and Markus Semer, chairman and CEO of Kempinski.

Gemstone Real Estate Development (Gemstone) signed a strategic partnership with Kempinski Residences SA (Kempinski) to manage and operate its new project, Kempinski Residences Business Bay.

Federico Tauber, CEO of Gemstone, announced: “The partnership with Kempinski is the start of a long-term relationship, as we entrust them with the management and operation of our five-star luxury serviced residences in Business Bay.

"We firmly believe the Kempinski brand stands for unrivalled quality, proven reliability and undisputed value-added services gained from decades of experience. Combined with our best-in-class product which will set new benchmarks in livability, quality of life, convenience, Gemstone can offer a good return on investment to our valued owners and investors.”

Markus Semer, chairman of the management board and CEO of Kempinski, said: “Our new Kempinski Residences project enjoys an excellent location, complementing the Kempinski portfolio in Dubai perfectly. With Expo 2020 fast approaching and the demand for five-star serviced residences expected to grow significantly, we look forward to welcoming residence owners and guests to this property.”

The project is expected to be completed by Q4 2019 and will offer luxuriously furnished serviced residences with views of many of Dubai’s famous landmarks.

With a wide choice of residence layouts, types and sizes, investors will have a choice of three design styles for the interiors, ensuring this free-hold property caters to a wide range of tastes and requirements.

Facilities such as a chef’s kitchen - offering privately catered functions as well as cooking classes; or a leisure deck with four pools; a sunset terrace; and recreational area, are part of delivering the luxury residence lifestyle to residence owners and guests.

Semer continued: "We are confident that this landmark development will become one of Dubai's premier destinations for residence owners, families, VIPs, long-stay business travelers and those who appreciate a high quality residence centrally located in this dynamic city. Residence owners and guests will be able to benefit from luxury services during their stay, with additional tailor-made services available on request."

Headquartered in Dubai, Gemstone is the property development arm of Al Rajhi Holding Group, one of Saudi Arabia’s business houses with interests in real estate, building materials, contracting, infrastructure and industry.

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Construction Week - Issue 751
Oct 13, 2019