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BridgeStreet Worldwide Awarded Contract for Jumeirah Village Property in Dubai |
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| Tuesday, February 24, 2009 |
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HERNDON, VA - BridgeStreet Worldwide a leading global provider of serviced apartments, today announced it has signed a 10-year agreement with The First Group to manage a 315-unit building in Dubai, United Arab Emirates (UAE). This will be BridgeStreet's sixth property in its Dubai portfolio and is scheduled to open in the 3rd Quarter of 2011.
The First Group (TFG) Tower is located in Jumeirah Village, a tranquil community in the heart of Dubai that utilizes innovative urban planning principles. The building includes 172 executive suites, 119 one-bedroom and 24 two-bedroom apartments designed with eco-friendly features. Guests will enjoy fantastic sized balconies, smart technology security and a unique "beach pool", which offers a "shoreline" sundeck and poolside area - one of the first of its kind in the UAE.
"We are thrilled to enter into another agreement with The First Group to expand BridgeStreet's presence in the Emirate of Dubai," stated Lee Curtis, president and chief executive officer of BridgeStreet Worldwide. "TFG Tower is a great product in a great location and will offer the business traveler an alternative to city living."
The First Group, a British owned international development company, specializes in delivering property solutions to investors with a focus on emerging markets. Joint chairmen of The First Group, Gary Shepherd and Danny Lubert; have selected BridgeStreet Worldwide as operators for all six Dubai properties. "Granting BridgeStreet a contract for our flagship development was an easy choice, they have been outstanding to work with in preparing our initial buildings for launch into the marketplace."
In addition to property management, BridgeStreet is providing consultative services to The First Group for design specifications. "We have developed a systematic approach for furniture procurement," comments Max Thorne, BridgeStreet Worldwide's vice president of development for Europe, Middle East and Africa (EMEA). "This process assists investors in providing an economic, stylish and operationally efficient product with the purpose of maximizing return on investment."
BridgeStreet Worldwide is a leading international provider of corporate housing. BridgeStreet and its Global Alliance Partners offer over 15,000 corporate apartments located throughout the United States and 50 cities internationally. An award winner in both the U.S. and Europe, BridgeStreet properties meet uncompromising standards of quality, comfort and service. For more information about the company or to learn more about how BridgeStreet is Making Corporate Housing Easy, visit www.bridgestreet.com or call 1 571 481 2700.
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