Roya appointed to find hotel operator for The Onyx

Roya International has been appointed to find an operator for a new hotel at The Onyx on Sheikh Zayed Road.

Located in the Greens, The Onyx is a recently completed 2 million sq ft mixed use development consisting of three towers based on a three-floor podium containing retail and F&B outlets.

The first two towers respectively contain 305 office units and 169 apartments, all of which have been sold or offered for sale. The third tower contains an as yet unbranded 210 room hotel as well as 50 luxury apartments.

Roya will provide strategic development and hospitality advisory services for the entire Onyx development, including finding an operator for the hotel.

With views of the adjacent Emirates Golf Course, The Onyx is minutes from Mall of the Emirates, The Palm, Dubai Media and Internet City, Dubai Marina and JBR.

The contract is with The Onyx for Development Ltd, a subsidiary of Dubai-based Ishraqah For Development Ltd, which started as a strategic alliance between two large Saudi based groups, Al Zahran Group and Ben Mahfouz Group with a focus on premium real estate investments and developments.

Speaking on behalf of The Onyx, Ammar Sweis, CEO of Ishraqah For Development, said: “We are delighted to work with Ròya in this critical phase of our development. The hotel not only completes the complex but adds a new hospitality and lifestyle landmark in the heart of Dubai.

“We carefully considered various proposals over a period of time. Roya quickly understood our vision and offered the best, most effective quality alternatives for the hotel and the complex in general. They looked not just at the location and the footprint of the area today but at probable future developments. We felt that they understood all these complex factors and suggested the best fit and potential return on investment. We look forward to working with them.”

Commenting on Roya’s role, the group CEO Ahmed Ramdan said: “We are delighted to have been appointed by The Onyx as their strategic advisors for this exceptional new lifestyle offering in one of Dubai’s fastest growing premium locations.
“Our end to end hospitality and asset management services backed by our long track record of successfully matching our clients with the right product positioning and operator is more like a partnership than a process.

“We work side by side to find a strategy that anticipates future trends along with tailor made solutions for Food and Beverage which not only suit the property and its neighborhood but reflects the best of our local hospitality traditions. Selecting and working with the right operator after our initial strategic work is essential for the final long term success of all parties involved.”

Source : CBNME.COM