Cayan Group, a leading property developer in the Middle East, is setting foot into the hospitality sector with plans for a hotel apartment tower  at Cayan Cantara in Dubai, UAE.

Details on the development and launch of a hotel apartments tower will be revealed at a press conference later this month.

The hotel apartments tower will be managed and operated by a well-renowned hospitality giant in the Middle East and beyond.

“The unbridled success of the first Cayan Cantara tower prompted us to carry on with our master plan for the Cayan development on the strategic Umm Suqiem Road. Entering the hospitality and tourism sector through the development of a hotel apartment tower at Cayan Cantara is of strategic importance to the growth of Cayan both in terms of physical growth and brand equity, and Dubai which is a tourist magnet is a good place to put our hospitality strategic plans in motion,’’ said Ahmed Alhatti, chairman of Cayan Group.   

The iconic Cayan Cantara project was launched recently, and since then the branded residences tower has received tremendous response from the public and already achieved 60 per cent in sales. Further, for investors in the project, approximate appreciation in value is above 20 per cent. Now along with the hotel apartment tower, there will be more than 700 units in the form of studios, apartments ranging from one-bedroom to three-bedroom, and penthouses for a convenient and luxurious living complete with retail spaces, restaurants, meeting rooms, gym, spa, and lounge. The development of the project is managed through a Dh1 billion ($272.18 million) real estate development fund set up between Cayan Group and the investment firm Shuaa Capital.

At the upcoming press conference, more details about the hotel apartment tower including the hotel operator, construction updates, and official launch date of sales of the tower will be announced. The press conference will held in Dubai on November 28, 2016. - TradeArabia News Service