Mohamed Awadalla says demand for serviced apartments is growing in the UAE. Mohamed Awadalla says demand for serviced apartments is growing in the UAE.

Time Hotels has launched its first project in Ajman, UAE.

Palm 1 Time Residence is the fourth project to be launched under the UAE-based hospitality company’s Time Residence serviced apartments brand.

Located on Ajman’s Hafiz Ibrahim Street, the property will feature 16 serviced apartments for long-stay guests.

It is the first of two properties that Time Hotels plans to develop in the emirate.

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Time Hotels chief executive officer Mohamed Awadalla commented: “Since launching the Time Residence brand, we have seen the demand for quality and value serviced apartments rise across the region, as business travellers look for a home-from-home environment and leisure visitors – especially families – increasingly require room configurations the traditional hotel model cannot always accommodate.

“By adapting our flexible business model and service offering, we have created a hospitality brand that will work alongside our hotel presence to provide even greater choice for travellers.”

In 2016, Ajman hotels attracted almost 543,000 guests, and generated revenues of approximately $112m (AED410m), according to data from Ajman Tourism Development Department (ADTT). Average hotel occupancy for the year stood at 69%, with hotel apartment occupancy at 75%.

The emirate’s hotel occupancy rates hit 98% during Eid Al Adha.

“The Ajman tourism industry is going from strength to strength, and we are delighted to be opening our first property, as the work of ADTT to promote the emirate to new markets begins to provide strong returns,” said Awadalla.

“Palm 1 Time Residence will be an important addition to Ajman’s accommodation inventory, providing visitors with even more options for their stay in the emirate, and we look forward to welcoming our first guests,” he added.

Time Hotels operates two Time Residence properties in Dubai: Oak Time Residence, and Oak Villas Time Residence. All Time Residence properties have been designed to cater to long-stay travellers and families.

The company now plans to take its Time Residence brand to Fujairah, following the launch of Platinum Time Residence earlier this year.

The Time Residence launches will supplement the firm’s plans to add three new hotels in Dubai: Time Asma Hotel, Time Royal Hotel & Spa, and Time Express Hotel Al Jaddaf. Time Hotels has also slated four projects across Egypt, Qatar, and Saudi Arabia.

“Our current pipeline of hotels and residences meets the demands of multiple markets by offering a high-quality hotel or serviced apartment for a market segment that is currently under-represented in the regional market,” Awadalla concluded.