DAMAC Properties recently launched a new concept of luxury hotel living with ‘Privé by DAMAC’. The twin tower development is located directly on the waterfront in the Burj Area. The AED1.35 billion, 30 storey will feature studios as well as one and two bedroom serviced hotel apartments. Scheduled for completion in Q3, 2016, Privé by DAMAC will cater to growing number of international investors returning to the market. According to recent statistics by STR Global, Dubai’s hospitality sector witnessed increases in supply (5.81%) and demand (30.4%) while occupancy rose 23.3% to 72.6%. Managed by DAMAC Maison, Privé by DAMAC will offer its guests spa, high-end restaurants, meeting space, a kids club and baby-sitting service. DAMAC Properties has a further 23,788 units at various stages of progress and planning across the Middle East region. Source: Travel Daily