Meraas, a Dubai developer has begun a residential project with the Italian luxury fashion brand Bvlgari on Jumeirah Bay Island.
The Bvlgari Resort and Residences will include 165 apartments, eight penthouses, 15 mansions and a five-star hotel. The project will be extended across 1.7 million square feet. The Bvlgari-branded 101-room hotel as well as 20 villas will be managed by Marriott’s Ritz-Carlton. The project will also feature a 50-berth marina and a Bvlgari yacht club.
The residences, which are set to be handed over in 2017 as well as the complete project, will go on private sale this week.
Progressively more, the residential part is going into the hotel section in the UAE as the conception of city resorts takes off.
Emaar’s Vida Hotels and Resorts will enlarge to a 180-room Vida hotel and serviced apartments in Town Square in close proximity to Al Barsha.
Vida also approximates to set off Vida residences nearly Vida Downtown, according to the general manager of Al Manzill and Vida Downtown, Stefan Viard.
The Bvlgari residences are creating interest from Gulf, Chinese, Indian and European investors, the executive vice president at Bvlgari, Silvio Ursini stated.
The company is identified for its watches and jewellery, projects to launch hotels in Shanghai and Beijing in 2017. It already has a presence in London, Milan and Bali.
Dubai has known to have the largest number of hotel rooms in the region under construction with 14,385 rooms across 49 hotels at the end of last month. That represents 18% of the total number of rooms under numerous stages of construction.
When the Bvlgari hotel opens it will join Emaar’s Armani Hotel in Burj Khalifa among the handful of fashion luxury brands to operate hotels in the UAE.
Mr. Ursini also averred that doing hotels is a extremely complex business, because they are enormous realty projects, and for this reason only a few brands have handled to do it.