TFGAM Wins Al Dar Tower Contract

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11/05/2018 - Our Portfolio Updates

TFG Asset Management (TFGAM) has secured the asset management contract for Al Dar Tower, a new luxury apartment hotel in Dubai Marina.

Al Dar Tower will be operated by the Barceló Hotel Group, an international hotel operator with a presence in more than 21 countries. Barceló will work closely with our team.

The property will be managed as a holiday lets product, which will greatly benefit from the Barceló Hotel Group’s expertise in the leisure market.

Spanning 40 storeys, the property boasts 260 apartments ranging from studios to four-bedroom duplexes and is situated in a prime location in Dubai Marina, close to some of the city’s most popular areas including Dubai Marina Walk and Dubai Marina Mall. It is also a convenient 10-minute walk from the beachfront and enjoys stunning panoramic views of the Arabian Gulf and The Palm Jumeirah.

Al Dar Tower was completed in 2015, so TFGAM has already started taking an active approach in the management of the property.

The first objective will be to closely monitor the management structure and operational procedures implemented by the Barceló Hotel Group.

This is a unique and luxurious product so it is important to ensure operations are as efficient and cost-effective as possible. Once the service standards are on-par with the product the focus will be to position the property as one of the area’s most upmarket accommodation options for long-stay guests.

At TFGAM we are delighted to add such an extraordinary asset to our portfolio and we look forward to demonstrating our asset management expertise to ensure Al Dar Tower’s owners achieve their desired returns.

It will also allow our team to build a partnership with another recognised hotel operator.

With both TFGAM and the Barceló Hotel Group involved in this project we expect to generate lucrative returns for investors.