FIVE Holdings (BVI) Limited FIVE LUXE Achieves BCC & LEED Platinum Status (7343Q)

TIDMAU83

RNS Number : 7343Q

FIVE Holdings (BVI) Limited

19 October 2023

FIVE Holdings Achieves Building Completion Certificate and Attains Coveted LEED Platinum Status for FIVE LUXE, Hotel and Residences in the UAE

October 19, 2023 - FIVE Holdings, a leading luxury development and hospitality group, is proud to announce a significant milestone in the completion of its prestigious project, FIVE LUXE, located in JBR, the heart of Dubai. This exceptional development, comprising 222 hotel units, 222 residences, and 8 remarkable dining establishments, has now secured the coveted Building Completion Certificate (BCC).

FIVE LUXE stands as a testament to FIVE Group's unwavering commitment to sustainability and environmental responsibility. It is with immense pride that we share the achievement of the Leadership in Energy and Environmental Design (LEED) Platinum certification, awarded to this iconic property, attaining a remarkable 89 points. This accomplishment underscores our dedication to advancing environmentally conscious and sustainable practices within our developments.

The Group's resilience in the face of challenges has also been notable. Despite the difficulties posed by the Israel-Gaza conflict, FIVE Group has maintained stability and continuity in its operations. Revenue at both FIVE Palm Jumeirah and FIVE at Jumeirah Village, has shown a slight increase when comparing the period from October 1st to October 18th, 2023, with the corresponding time frame in the previous year. reflecting the unwavering strength and adaptability of the organizations.

For further information and inquiries, please write to Farah Palia at [e-mail] .

About FIVE Holdings:

FIVE Holdings, founded by Kabir Mulchandani, has focused on real estate development and a thriving hospitality division. The Group is a vertically integrated hospitality group, and its current portfolio includes 3 luxury hotels in Dubai, FIVE Palm Jumeirah, FIVE Jumeirah Village and FIVE LUXE, which is expected to be fully operational in 2024. In addition, the Group owns 1 hotel in Zurich (Switzerland), FIVE Zurich, 2 hotels in Ibiza (Spain), Destino Pacha Hotel & El Hotel Pacha and also the iconic Pacha Nightclub (Ibiza).

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

STRDKLFFXBLEFBF

(END) Dow Jones Newswires

October 20, 2023 02:00 ET (06:00 GMT)