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Category: Our Portfolio Updates

The First Group Asset Management appointed as the HAM for Millennium Place Business Bay

The First Group Asset Management is proud to secure a second management contract with Millennium Hotel Group for The First Group’s upcoming lifestyle 4-star hotel project in Business Bay. We are excited to announce that the selected brand will be Millennium Place.

Millennium Place Business Bay Dubai is scheduled to open in 2020 and will offer an inventory of approximately 500 units. The property will target a high volume of both corporate and leisure segments due to its strategic location. Facilities will include two specialty restaurants, one all-day dining, one bar-style establishment, a spa, a business centre, and a health and fitness centre.

Situated in Dubai’s Central Business District, the Business Bay Hotel Project will benefit from its proximity to key business areas such as Dubai International Financial Centre (DIFC) and Sheikh Zayed Road, as well as a number of iconic buildings, tourist landmarks and major infrastructure developments. They include the new Design District, with 10% of this development earmarked for retail outlets and the Dubai Canal project, which is being billed as a significant tourism and leisure attraction. It comprises the redevelopment of nearby Safa Park and has been extended to include new marine transport stations. The proposed hotel project is adjacent to Al Khail Road, offering accessibility to key transportation networks.

“Millennium Place Business Bay’s strategic location and lifestyle brand will capitalise on the continuous growth of the emirate’s tourism sector,” commented Hani Mansour, Senior Hotel Asset Manager at The First Group Asset Management.

We are excited to build this partnership with Millennium & Copthorne Hotel Group – a most trusted hotel owner and operator. Our investors can expect lucrative returns under The First Group Asset Management and Millennium.

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