Emaar launches pioneering holiday homes concept

‘South Beach’ is a residential beachfront development in Emaar Beachfront offering a blend of cosmopolitan living and serene seaside lifestyles.
Updated 08 September 2019

Emaar launches pioneering holiday homes concept

Emaar, a Dubai-based global property developer, has announced the launch of Ease by Emaar — a streamlined short-term rental concept that provides global travelers stays in elegant homes handpicked by Emaar in their integrated communities. It is a pioneering concept that provides property management services, handling holiday homes on behalf of investors and providing high return on investment.
The holiday homes market has grown by 161 percent, according to a study by Knight Frank
During the launch event, the developer also unveiled “South Beach,” a residential beachfront development in Emaar Beachfront offering a blend of cosmopolitan living and serene seaside lifestyles. Comprising one-, two-, and three-bedroom apartments with exquisite furnishings, this will be the first waterfront development to be listed on Ease by Emaar.
“For guests, Ease by Emaar opens a new avenue for visitors to experience a premium lifestyle located in some of the most sought-after destinations in the city. Guests are provided with unrivaled hospitality such as hotel-grade housekeeping and amenities, and a digital mobile concierge, ensuring guests get all the information needed to experience the city, anytime, anywhere,” a press release said.
Other amenities offered to guests include unlimited Wi-Fi, a welcome pack, and on-demand Google Smart Home devices such as Chromecasts for streaming entertainment channels and others. Guests can also get an “Ease Pass,” which provides offers and deals to the city’s major attractions. This includes U by Emaar special upgrades, discounts on Emaar hospitality restaurants, and deals to Emaar entertainment attractions such as At The Top, Burj Khalifa, Reel Cinemas and others.
Residents of South Beach can also engage in watersports activities and various lifestyle amenities such as a swimming pool, fitness center and an extensive choice of play areas for children.
Investors in this development will have the option to let Ease by Emaar manage their property at no additional cost for the first three years post-completion.
Emaar Beachfront, which is easily accessible via Sheikh Zayed Road, features captivating views of the waterfront and access to private beaches.
“For investors, the innovative technological infrastructure offers the opportunity to fill the market gap for short-term rentals and helps them capitalize on an emerging business model, helping them earn substantial returns. Emaar-owned Ease provides an end-to-end property management service, including property setup, reservations management, guest hosting, housekeeping, maintenance, government licensing, and distribution of the listing across Airbnb, Booking.com, Expedia, Agoda, and over 50 other channels,” the developer said.


UAQ, Alinma close real estate fund at $4.5bn

Updated 07 December 2019

UAQ, Alinma close real estate fund at $4.5bn

Umm Alqura Company for Development and Construction (UAQ) and Alinma Investment Company announced the successful completion of the launch of the Makkah Real Estate Development Funds, with an investment value exceeding SR17 billion ($4.5 billion). 

The funds are invested in seven hotel towers and two commercial complexes that will be developed within the King Abdul Aziz Road (KAAR) project in Makkah. It is one of the most significant developmental and urban development projects in the Makkah region. The project includes multiple options including housing and shopping, and provides easy mobility and means of transportation between the project facilities and the central area of the Holy Mosque.    

Yasser Abuateek, CEO of UAQ, said: “This strategic agreement is the first of several diverse investment activities designed to attract leading investment institutions. It confirms the appeal of investing in KAAR, an attractive destination for long-term investments, as well as the trust of the investment and financing community.

“This partnership also sheds light on the strength of Alinma Investment and its success in managing real estate funds, which makes it the ideal partner for implementing the project’s development and urban plan. The project aspires to become one of the modern landmarks in Makkah.”

Abuateek added: “By successfully attracting investments valued at SR17 billion, we will make progress in line with the execution plan for several diverse projects, especially since we have already reached several major milestones, including completion of the pouring and construction of all the concrete blocks for the Makkah Metro tunnels, while in addition we have completed nearly 50 percent of the bridges. Currently, we are working on completing all the unprecedented infrastructure projects that followed the demolition phase, which represent a transformation in the investment, development and preparation of the project’s lands, making it more attractive for development and creating new choices that help upgrade the quality of life for Makkah visitors and residents.”

Acting CEO of Alinma Investment Mazin bin Fawaz Baghdadi said: “We are very happy with the success of the Alinma Real Estate Development Funds together with our partner UAQ. This investment, with the large sum of capital, will play a major role in fulfilling the objectives of the finance sector, while our partnership will contribute to increasing the capacity to accommodate pilgrims and visitors through implementing urban developmental projects in the Makkah region.”

“The funds’ investment objective is to achieve long-term capital growth through the development of the superstructure in various parts of the King Abdul Aziz Road project in Makkah, which are: Five-star international hotels (Taj Hotel and Kempinski Hotel), four-star hotels (Hilton Embassy), three-star hotels (Hilton Garden Inn), apartments (Kempinski Residence), and two malls,” added Baghdadi.