Ultra-Luxury developer closes AED 150-million financing deal with UAE’s oldest privately-owned bank.
DUBAI – Ultra-luxury developer Omniyat has announced that it recently secured a financing of AED 150 million from Mashreq Bank for the fit-out of its premier ME Dubai hotel based in The Opus by Zaha Hadid in Downtown Dubai.
The facility will be utilized for completing the fit-out ofthe landmark hotel to be operated by the lifestyle hotel brand ME by Melia. The internal works will prevail outstanding benchmarks worldwide to meet the distinct needs of future guests.
Mahdi Amjad, Chairman and Chief Executive Officer at Omniyat, said: "We are pleased to sign with the UAE’s longest standing bank andaddingit to our portfolio of banks that share Omniyat’s vision of building truly unique projects across vantage locations in Dubai. Bringing Zaha Hadid’s ground breaking vision of the future to life has been a momentous journey and we wish to continue herlegacy through The Opus. As the final and most anticipated component of The Opus, we are thrilled to be revealing ME Dubai’s Debut by the end of the year look forward to guests experiencing the full capacity of the architectural wonder as it captures design aspirations from every corner."
Following the announcement, Enrique Ortiz, EMEA region VP at Melia Hotels International, said: “Designed by late architect Zaha Hadid, ME Dubai will be a true legacy project when the property launches. We are honoured to work in partnership with her team and Omniyat and we are very much looking forward to ME by Melia’s first debut in the Middle East offering guests an unparalleled experience combined with exemplary design.”
Ahmed Abdelaal, Head of Corporate & Investment Banking Group,at Mashreq, said: “As the UAE’s oldest bank Mashreq has played a pivotal role in helping shape the skyline of Dubaiand we are delighted to be associated with a building whose unique design challenges established convention. The Opus is testament to how innovation can create a meaningful legacy. This approach mirrors our own and reflects how we empower our customers to achieve their own dreams and aspirations.
The Opus is uniquely distinct from the famed architect’s list of iconic projects as it is one of her very first projects in Dubai to have been fully designed from an interior and exterior perspective, where every element of the hotel and residential space, recognizable with her signature curves and flowing lines have been handpicked by her complementing the powerful elements of the exterior of The Opus.
Established in 2005, Omniyat has a strong track record in delivering high quality projects, with a development portfolio of overAED 16 billion.
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