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FIVE Holdings announces latest Dubai acquisition with FIVE Beach

Joining FIVE Palm Jumeirah and FIVE Jumeirah Village, this will be FIVE Hotels and Resorts third luxury lifestyle destination in Dubai

Occupying a prime piece of oceanfront real estate, FIVE Beach will comprise 227 suites and 102 serviced residences in what was pegged to be Corinthian property.

In addition, it’ll offer seven dining and nightlife venues, a ReFIVE Spa, a ‘social pool’ and a private beach. The entire property boasts sweeping sea views taking in glowing sunsets and the glittering lights of the Ain Dubai, the world’s tallest Ferris wheel.

Set to open in 2023, FIVE Beach will join the group’s portfolio, which includes FIVE Palm Jumeirah (with 476 hotel rooms and apartments, 221 luxury residences with 11 culinary and nightlife venues), FIVE Jumeirah Village (with 234 hotel rooms, 267 luxury serviced apartments and five culinary and nightlife venues) in Dubai and FIVE Zurich (with 149 hotel rooms and eight culinary and nightlife venues) in Switzerland.

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FIVE Holdings chairman Kabir Mulchandani said: “Due to our visionary leader, His Highness Sheikh Mohammed Bin Rashid Al Maktoum, and other salient stakeholders, such as DTCM and Emirates Airlines, Dubai is the top destination for secure investments in the hospitality sector globally.

“Our city was the quickest in the world to open its economy during the ongoing Covid-19 crisis while maintaining the optimal balance between ensuring public health and safety and being an inviting and thriving business hub with unrestricted access as the globe’s air travel centre.”

Dubai’s economy continues to flourish with over 76% of the population fully vaccinated and over 75 million tests being conducted, resulting in a record low number of positive cases. This has enabled FIVE to buck global trends and succeed in achieving an earnings growth of 196% in the 1st half of 2021 as compared to 2019.

He added: This exciting new acquisition will cater to our overwhelming demand from millennials and Gen Z as we plan to up the ante with FIVE Beach as the most exciting must-visit destination in Dubai.”

For more information, visit https://www.fivehotelsandresorts.com

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