KM Properties, Dubai-based subsidiary of KM Holding and a full-fledged real estate development company with a portfolio of residential, commercial and freehold properties, has launched Tamani Hotel Condominiums at its luxurious El Matador Tower real estate development at Jumeirah Village.
The floors from 20 to 42 of the 43-storey El Matador Tower are being offered as hotel condominium units, providing five-star hotel service with all the comforts of home.
This move follows in the wake of the group’s launch last year of a US $2.3 billion Islamic-compliant real estate fund. The fund has been established to develop and own an international chain of hotels, and other real estate assets encompassing residential, commercial and retail components, that abide by Islamic principles. It also spread investment across various complementary commercial real estate assets worldwide.
Alain Guernier, CEO, Tamani Hotels & Resorts, said, “We are offering one, two and three-bedroom apartments for sale within the hotel tower, offering guests all the convenience and service of a hotel combined with the space and comfort of a private residence. Tamani Hotel Condominiums at El Matador will offer 22 floors of premium and luxurious accommodation for sophisticated individuals”.
Investors can pay a 10% deposit to secure their luxury unit at Tamani Hotel Condominiums at El Matador, with the remaining balance due in easy to pay installments.
El Matador Tower offers Spanish-style living in modern studios, apartments and loft-style condominiums at the master-planned Jumeirah Village real estate development in the heart of New Dubai. El Matador also boasts a fine array of five-star leisure facilities, including a fitness centre and outdoor swimming pool. The tower also offers 24-hour security services with CCTV monitoring.
KM Properties has six hotel projects currently under development in Dubai, totalling more than 2,500 rooms, all of which will be operated by the Tamani Hotels & Resorts brand.
“Our vision is to develop a group of upmarket hotels. We will develop in high-class residential destinations. We will have a strong focus on quality, from bed sheets and towels to European-style furniture. There will be a great attention to detail,” said Alain Guernier, CEO, Tamani Hotels & Resorts.
“It is our aim to have 8-12 hotels in operation within the next three years. We want a limited number of properties and want to develop them well. We want to grow in a smart way,” he added.
The Tamani Hotels & Resorts portfolio will include 3, 4 and 5 star properties, located in the Middle East, North Africa and Asia. The UAE, Saudi Arabia, India, Malaysia and Indonesia have already been identified as potential destinations.
Adhering to Islamic principals, Tamani Hotels & Resorts will be alcohol free, serve halal food and will donate a percentage of profits to recognized charities.
“Tamani Hospitality & Leisure combines Islamic and wholesome values with passion for creativity, innovation and excellence to deliver globally recognised and respective hospitality and leisure brands. We will offer the highest quality components and latest technology in all rooms to heighten the hotel experience for every guest in every property, regardless of the hotel tier or ranking,” explained Guernier.
KM Properties will unveil its new hospitality division, Tamani Hospitality & Leisure, at a press conference to be held on the first day of Arabian Travel Market. The press conference will take place at 3pm on May 1 at the KM Properties stand in Hall C of the Dubai International Convention and Exhibition Centre (DICEC).