NewswireToday - /newswire/ -
North Miami, FL, United States, 2006/08/08 - Condo Hotel Center has announced the release of The Cube, a to-be-built, five-star condo hotel. The $70 million luxury property is now available to individual investors in the U.S. at pre-construction pricing.
The Cube will be an eye-catching landmark tower located in Dubai Sports City, the centerpiece of one of the six "worlds" being built in the immense Dubailand theme park/residential development.
“The Cube will stand out with its unique architecture and five-star amenities,” said Joel Greene, president of Condo Hotel Center, a Florida-based company that sells condo hotels worldwide including Dubai, UAE. “The individual condo hotel units can be purchased by U.S. investors seeking to participate in Dubai’s rapid growth and real estate appreciation.”
Condo hotels are luxury vacation homes in a world-class hotels and resorts. While owners can use their condo when they want, most choose to place it in the professionally managed hotel program and share in the rental revenue it generates. They also hope to profit when the real estate appreciates, and they resell their vacation home for more than they paid.
The Cube will feature 561 ultra-modern condo hotel units with studio, one- and two-bedroom units. The 27-story tower will have a cutting-edge design and five-star amenities and services including an impressive lobby with lounge, fine-dining restaurants and casual cafes, a garden health club with pool and large deck, a fitness center, a fully-equipped business center, state-of-the-art conference rooms, upscale retail shops, room service and concierge service.
The Cube condo hotel is being developed by a consortium of well-respected German companies led by Trend Capital, a large German finance company. It is the first major German investment in the city of Dubai.
The cutting-edge design of The Cube was developed by BRT, an internationally renowned architectural firm based in Hamburg, Germany.According to a company spokesman, the unique architecture of The Cube will give it an undeniable presence and make it a focal point visible from all areas of Sports City.
Construction of The Cube is expected to begin by the end of 2006 and to be completed by summer 2008.
Today Dubai is the number one emerging market in the world. An estimated $80 billion of real-estate projects are now underway in Dubai.
“This city is undergoing a surge in development, and it will likely ramp up further as the infrastructure and theme parks of Dubailand are constructed,” explained Greene.
Dubailand will contain 45-mega projects including six theme parks. It is going to be nearly three times the size of all Walt Disney World in Orlando, including its many theme parks, hotels, restaurants and retail centers.
“Think Disney on steroids, and you can imagine how the Dubailand development is going to transform this desert city into the #1 vacation destination for people in the Middle East as well as nearby Europe and Asia,” Greene said.
Dubai Sports City, the Dubailand theme park in which the Cube will be located, will be a $1.9 billion development. Already under construction, it is expected to be complete by 2011.
It will contain an impressive combination of sports and entertainment developments including several state-of-the-art stadiums, some with seating capacities of over 60,000; world-class sports academies, including Manchester United Soccer Schools; and a signature golf course being designed by Ernie Els and Jack Nicklaus.
"A green jewel with stadiums as a back drop," is how the developers of The Cube are describing this project. Once built, they expect unrivaled demand for their condo hotel units from high-profile sports personalities, athletes, coaches and visitors alike who have come to Dubai Sports City to either view or participate in athletic events.
Prices for the condo hotel units at The Cube start under $144,000, which less than one-third what a comparable, five-star condo hotel unit would cost in the U.S.
The Cube offering is geared toward real estate investors interested in capitalizing on the rapid growth and appreciation of the dynamic Dubai market. The developers are therefore offering several unique incentives regarding the annual revenue the individual condo hotel units are expected generate for buyers.
To learn more about The Cube in Dubai and other condo hotels around the U.S. and the world contact Condo Hotel Center and its sister company, Condo Hotels Dubai at info[.]CondoHotelCenter.com, 305-944-3090.