The Address Dubai Marina, one of the hotels that was operated under the flagship Address brand of Emaar Hospitality Group, was rebranded as a Marriott hotel effective January 1st, 2024. More specifically, it is now the JW Marriott Marina, representing the ultra luxury arm of the Marriott brand. This is one of 3 Emaar properties that were sold to Marriott in 2019, with the reins formally being handed over at the beginning of this year. The Address Marina has been in operation since 2009 and benefitted tremendously from the boom in short-term rentals that followed the initial wave of global pandemic lockdowns.
The property continues to attract investor interest and, according to real estate broker Jamie Neep, there is a higher level of interest from international buyers now. “The Address is a homegrown brand that’s quite well-known in the UAE, and has a strong regional presence,” says Jamie. “Marriott, however, is an established and highly renowned global name in hospitality; it’s a name that more overseas investors are familiar with. The clients that I deal with now come from more varied backgrounds and are keen to invest in the Marriott brand.”
Some of Jamie’s clients are former hotel guests who have experienced what the property has to offer while staying there on vacation and are now opting to invest in it. “A common trend among buyers is to purchase units and put them up for short-term rental,” according to Jamie. “This allows them to generate income on the units and also gives them the flexibility to have it vacant whenever they wish to occupy it themselves. They can enjoy all of the benefits of the Marriott lifestyle when they’re here, without having to worry about booking a suite every time.”
Jamie, a Private Client Advisor at award-winning luxury brokerage Luxury Property, specializes in the Dubai Marina area and is an expert in waterfront properties. Since the rebrand of The Address to JW Marriott, there has been a noticeable increase in transactions. Whereas Jamie sold 3 units over the second half of 2023, he has already doubled that figure in 2024 with 6 units sold, and still has a few transactions in the pipeline.
The JW Marriott Marina is in an incredibly prime location in Dubai. It is located the Dubai Marina district, one of the city’s most sought-after waterfront destinations and an investment hotspot. The hotel is adjacent to the very popular Dubai Marina Mall and sits along a lively boardwalk, known as the Marina Walk, which is also home to a premium yacht club. Residents are only a few minutes away from a wide array of award-winning restaurants, high-end retail, varied leisure options, and the beach. It also enjoys excellent connectivity to other key areas of the city. Some of the most prestigious hotel brands in the world have their properties in Dubai Marina; JW Marriott Marina joins the Marriott Harbour Hotel, which first opened in 2007. It is also Dubai’s second JW Marriott property, after the JW Marriott Marquis.
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Country: United Arab Emirates
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