DAMAC Launches Sharia-Compliant Hotel Apartments

DAMAC Hotels, the hospitality arm of DAMAC Properties, launched the first fully certified Sharia-Compliant serviced apartment hotel in Dubai during Arabian Travel Market (ATM) 2014, the Middle East’s largest travel and tourism industry event.

According to the developer, full management of the project, called Constella, will be carried out on Sharia principles and result in the issuing of a Sharia Certification by ‘Dar Al Sharia’.

Each apartment in the hotel, located in Jumeirah Village, will come complete with a fully-fitted kitchen and daily housekeeping services, with access to a restaurant, kids club and swimming pool. The Sharia compliant hotel will also have separate swimming pools for men and women, separate gymnasiums and saunas. The restaurant will also have a section for men only and separate family section. There will also be floors for ladies only, served by a female-only staff.

In addition, Constella will also fully comply to Islamic financing principles, with all funds for the project managed by an Islamic Bank.

The luxury tower, which is currently under construction, is set for a 2017 completion. Prices for each apartment start at Dhs702,000.

“DAMAC Properties is a Dubai company, which listens to market demands and we were keen to bring a fully certified Sharia-Compliant product to the market for some time,” said Ziad El Chaar, managing director, DAMAC Properties. “Constella presents a unique opportunity to invest in the Dubai real estate market in-line with the principles and beliefs of many of our customers, particularly those from the Kingdom of Saudi Arabia and here in the UAE.” added El Chaar.