• Element Al Jaddaf in Dubai will open to the public on Tuesday, December 15. All photos by Pawan Singh / The National
    Element Al Jaddaf in Dubai will open to the public on Tuesday, December 15. All photos by Pawan Singh / The National
  • The hotel caters to business travellers and longer-staying guests.
    The hotel caters to business travellers and longer-staying guests.
  • The hotel features 269 studios, one- and two-bedroom apartments.
    The hotel features 269 studios, one- and two-bedroom apartments.
  • Every apartment features a fully equipped kitchen.
    Every apartment features a fully equipped kitchen.
  • A view of the kitchen in the one-bedroom apartment at the Element hotel.
    A view of the kitchen in the one-bedroom apartment at the Element hotel.
  • The two-bedroom apartments can accommodate up to six guests, and feature a kitchen, two bathrooms and living and dining areas.
    The two-bedroom apartments can accommodate up to six guests, and feature a kitchen, two bathrooms and living and dining areas.
  • View of the drawing room in the two-bedroom apartment.
    View of the drawing room in the two-bedroom apartment.
  • The corridor area at Element Al Jaddaf.
    The corridor area at Element Al Jaddaf.
  • The lift area of the extended stay hotel.
    The lift area of the extended stay hotel.
  • The hotel will offer a complimentary breakfast while the all-day restaurant, Cafe 26, will serve lunch and dinner
    The hotel will offer a complimentary breakfast while the all-day restaurant, Cafe 26, will serve lunch and dinner
  • The hotel also features a swimming pool, fully equipped 24-hour gym and business centre.
    The hotel also features a swimming pool, fully equipped 24-hour gym and business centre.
  • Panoramic views from the rooftop swimming pool.
    Panoramic views from the rooftop swimming pool.

First look: Extended-stay hotel Element Al Jaddaf to open in Dubai

It will be the latest to offer long-term hotel stays in the UAE

Janice Rodrigues
Janice Rodrigues

December 08, 2020

  • English
  • Arabic

There are a lot of perks about hotel life, from free housekeeping to room service. And, over the course of the year, a number of hotels in the UAE have launched long-stay deals to give residents the chance to enjoy these properties without the hassle of year-long contracts.

Joining them will be Element Al Jaddaf, an extended-stay hotel set to open in Dubai’s Creekside neighbourhood of Al Jaddaf on Tuesday, December 15. Element Hotels is part of Marriott International, and this will be the second branch in the UAE, following Element Me'aisam, Dubai.

The facilities

Element Al Jaddaf features 269 studios, one- and two-bedroom apartments, thus catering to business travellers, longer-staying guests, and also holidaymakers. Every apartment features a fully equipped kitchen.

One-bedroom apartments in the property include a separate living and sleeping area, accommodating up to four guests, convertible sofa bed, bathroom, fully equipped kitchenette and an area for guests working remotely. The two-bedroom apartments can accommodate up to six guests, and feature a kitchenette, two bathrooms and living and dining areas.

The hotel will offer a complimentary healthy breakfast while the all-day restaurant, Cafe 26, will serve lunch and dinner.

Additionally, the hotel features a business centre with three compact meeting rooms, a 24-hour fitness centre, and a rooftop pool.

The 24-hour gym at soon-to-open Element Al Jaddaf. Pawan Singh / The National
The 24-hour gym at soon-to-open Element Al Jaddaf. Pawan Singh / The National

The interiors of the hotel feature streamlined furnishings in light natural tones and touches of greenery. It is also pet-friendly.

Longer stay, more demand

The launch comes at a time of notable interest for extended stay hotels, according to Richard Bleakley, multi-property general manager at Marriott International.

"The growth of extended stay hotels has reached a record high in recent years as more travellers look for comfortable lodging, great atmosphere, affordable rates and flexibility. Recent events have highlighted that commitment and long-term contracts can become a hindrance and a risk, more so than ever before," he says.

In light of this, many are seeing the benefits of staying in extended-stay hotels over regular apartments, he adds. “Guests can avoid yearly contracts, set-up costs and administrative paperwork, while enjoying a fully serviced and cleaned property.”

Studios will start at Dh189 per night. The monthly launch rate for a studio apartment is Dh3,880+ for longer staying guests.

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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Quick pearls of wisdom

Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”

Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.” 

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