Israelis are to be offered stakes in the tallest and most extravagant hotel in the world, currently being constructed in Dubai. The company building the hotel, a Dubaian real estate developer, plans to approach Israeli investors.
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The First Group (TFG), one of Dubai's leading property developers, is offering a range of opportunities for investment in hotels, working in close cooperation with its new local partner, MGroup.
The Ciel Hotel, currently under construction in the heart of the Dubai Marina district, was planned by the prize-winning architectural firm NORR. The hotel will include 1,042 luxury suites. At a height of 365 meters, it will be the tallest hotel in the world.
Since the signing of the Abraham Accords in 2020, interest has spiked among Israelis looking for investment opportunities in Dubai. The city is the largest financial, commercial, and touristic center in the Persian Gulf, earning a reputation as one of the most stable business hubs in the area. Its open, diverse economy, which encourages international investments, has seen impressive growth rates.
The Ciel will feature modern interiors and a stunning glass 360-degree panoramic balcony looking out on the fabulous view of the marina, Palm Jumeirah, and the Persian Gulf. According to the developers, the hotel will be a refreshing addition to the Dubai Marina skyline.
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"Over the past 15 years, the group has constructed 18 buildings, including some of the most famous buildings in Dubai," said The First Group's CEO Rob Burns. "The Ciel affords Israeli investors an ideal opportunity. We are very excited about the groundbreaking accord between the UAI and Israel, and hope to host Israeli investors and show them the international projects we are working on."
MGroup's VP of Business Development, Dotan Ninveh: "Like investors from dozens of countries around the world, Israeli investors will soon realize that the Dubai hotel market offers opportunities for safe investments with stable and profitable returns."
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