UAE A Year Away From The “Tallest Hotel Tower In The World

Ciel Tower Dubai

An Overview of Ciel Tower

The 365-meter-tall Ciel Tower in Dubai Marina will take one more year to complete, making it the next-tallest hotel building in the world. Afterwards, the first visitors will settle into their rooms after a few weeks.

Dubai will continue to host the ‘world’s tallest hotel tower’, with the Ciel taking over the title from the Gevora Hotel, which is 356 metres high and located on Sheikh Zayed Road.

NORR, an architect from London, designed Ciel. The hotel will feature an Infinity pool on its signature Sky Terrace, more than a thousand guest rooms, and a glass observation deck on the 81st floor. According to the plan, construction is moving forward, and the project will be finished in the fourth quarter of 2023. China Railway Construction Corporation, the world’s second-largest construction and engineering company by revenue, is the First Group’s development partner. During the worst Covid disruptions, the project advanced significantly and accomplished significant timeline milestones.

Location Benefits

The Habtoor Grand Resort, the Address Dubai Marina, and the Wyndham Dubai Marina are just a few five-star hotels in Dubai Marina.

Regarding hotel occupancy and revenue, the first half of this year has demonstrated that Dubai Marina continues to perform better than the city. For instance, STR data shows that in March (coincident with the end of Expo 2020 Dubai), the Dubai Marina reported the city’s highest average occupancy rate of 93% and RevPAR of Dh 1,107.

“With its high profile, global buzz, and an unrivalled mix of a unique lifestyle, leisure, and F&B facilities, Ciel Tower is sure to be well received by the market when it opens in 2024”, as evidenced by the area’s stellar operational performance.

Studios For Dh1M Plus?

Since the developer intends to sell hotel rooms, these might end up being among the most exclusive investment opportunities in the Dubai Marina cluster. Indeed, there are already a number of listings for Ciel units in real estate, with studios starting at Dh1.3 million and higher. With the “world record,” the location in Dubai Marina, and the likelihood of continued demand for hotels and other services in Dubai, the extra cost is worth it.

However, a spokesperson for The First Group stated, “I can confirm that Ciel will be a fully-operated hotel with no serviced apartments.”

Hotel Investment Perks

In Dubai’s hotel sector, occupancy rates increased by 75%, primarily due to luxury resorts and waterfront destinations, according to the consultancy JLL’s Q2-2022 UAE real estate market report.

Additionally, investors will be able to view Ciel’s hotel rooms. They can purchase individual rooms or buy ‘fractional’ ownership. The developer says, “The First Group offers investment opportunities for its fully operated and managed hotel properties, as well as advice and support from expert asset managers who ensure each property is in the best position to maximise occupancy rates, room rates, and profits for its investors.”

Dubai Lifestyle Elite Membership, a multi-tiered membership programme based on the value of the investment, is one of the additional benefits for investors. Up to five annual trips to Dubai are included in this membership, along with options for free hotel room upgrades, access to beach clubs, dining specials, and a personal travel concierge.