Cultural Heritage
Cultural heritage has a significant role in empowering local communities and vulnerable groups for promoting development and social stability to be preserved for the benefit of future generations.
FIVE is committed to promoting culturally responsible behavior in its operations and to integrating the cultural, culinary, and artistic characteristics of each location it operates in. FIVE endeavors to protect cultural heritage sites by acting responsibly and in a sensitive manner in of any properties are in proximity or located within the cultural heritage sites such as UNESCO Cultural World Heritage Sites or sites listed on the World Monuments Watch of the World Monuments Fund.
As of 2022, none of FIVE’s properties are located at a cultural heritage site.
FIVE recognizes the significance of cultural heritage and has a policy in place to protect it, including a site assessment policy to perform environmental impact assessments, prevent damage during the site selection and construction process and implement measures to sensitively operate when within a cultural heritage site.
FIVE’s decision to establish a presence in Dubai in 2000 and Zurich in 2021 was based solely on the region’s potential for real estate and hospitality business. Our focus on the hospitality sector in the region is a result of its growing demand and potential for growth. We want to emphasize that our presence in Dubai is not related to any tax advantage or incentive. FIVE adheres to all tax laws and regulations in every country in which we operate, and our commitment to ethical and transparent business practices is of utmost importance to us. We remain dedicated to providing exceptional hospitality experiences to our guests and creating value for our stakeholders while operating in a responsible and ethical manner.
At FIVE, we prioritize the preservation of cultural site heritage by conducting a detailed site assessment survey for all our properties before any construction, renovation or expansion. We recognize the importance of preserving historical and cultural sites, and therefore take all necessary steps to ensure that our activities do not harm them in any way. By conducting a thorough site assessment, we can identify any potential risks and develop appropriate mitigation strategies to protect the cultural heritage of the area. We are committed to working closely with local communities and authorities to ensure that our operations align with their values and interests. At FIVE, we strive to be responsible corporate citizens by prioritizing the preservation of cultural site heritage in all our activities.