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Dubai bank provides $41m for Meliá hotel within Zaha Hadid's The Opus

Omniyat secured financing from Mashreq Bank for fit-out work of ME Dubai Hotel within Zaha Hadid-designed project

The Opus was designed by late British-Iraqi architect Zaha Hadid.
© Omniyat
The Opus was designed by late British-Iraqi architect Zaha Hadid.

Dubai real estate developer Omniyat has secured funding worth $40.8m (AED150m) from the UAE’s oldest privately-owned bank, Mashreq, to implement fit-out works for a hotel within the Zaha Hadid-designed Opus in Downtown Dubai.

The funds will help complete the fit-out of ME by Meliá Dubai, which is due to launch in December 2019. 

Late Iraqi-British architect Hadid is said to have handpicked every design element of The Opus's interiors and exteriors, making it a highly anticipated development in the design community. 

Commenting on the latest round of finance, Omniyat's chairman and chief executive officer, Mahdi Amjad, said: “As the final and most anticipated component of The Opus, we are thrilled to be revealing ME Dubai’s debut by the end of the year.”

Ahmed Abdelaal, head of the corporate and investment banking group at Mashreq, said: “Mashreq has played a pivotal role in helping shape the skyline of Dubai, and we are delighted to be associated with a building whose unique design challenges established convention.”

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Construction Week - Issue 749
Sep 15, 2019