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Ròya International Appointed as Strategic Development and Hospitality Advisors by The Onyx for Development Ltd

Ròya International Appointed as Strategic Development and Hospitality Advisors by The Onyx for Development Ltd

Role will include Operator Search for Major New 210 room Lifestyle Hotel, Apartment and Mixed Use Complex located on Sheikh Zayed Road.

Dubai, September 4 2016: Ròya, the Dubai based international specialist hospitality consultancy firm today announced the signature of a comprehensive agreement for strategic development and hospitality advisory services with The Onyx for Development Ltd. Ròya will also act as lead advisors in the operator search, evaluation and selection process. Engaged by The Onyx for Development Ltd, a subsidiary of 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 which is based in Dubai. The Onyx has completed the 2,000,000 square foot project which consists of a 3 towers of a class A commercial, residential and retail complex, with 305 office units, 169 residential apartments with a 3 floor Podium of retail and F&B outlets as well as the 14 story 210 room lifestyle hotel which will also include 50 branded lifestyle apartments. As the commercial spaces and residential tower are sold or offered for sale Ròya will provide comprehensive strategic and hospitality advisory services for the currently unbranded shell and core hotel and 50 luxury apartments.

Located at the apex of Dubai’s premium contemporary lifestyle area, the complex is in the vibrant Greens master development and offers breathtaking views of the Emirates Golf Course, Dubai Marina and The Palm. The Onyx is minutes away from the Mall of the Emirates, and The Palm and with easy access to Dubai Media and Internet City, Dubai Marina and JBR.

Speaking on behalf of The Onyx, Mr. 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. Ròya 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 Ròya’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.”

About The Onyx

Built on a land plot of approx. 237,00 Sq Ft as part of the Greens master development on Dubai’s famous Sheikh Zayed Road, construction began for milestone 2 of the project in 2013 and is in the final stages of completion with delivery of the residential and office towers in October 2016. The complex consists of 2 commercial and residential towers and offers 305 premium office units, 169 residential apartments ranging in size from 1 bedroom to 3 bedrooms, 30 retail and food and beverage outlets as well as 5 floors of secured covered parking consisting of 1,440 parking spaces. The Hotel tower consists of 210 keys and is at shell and core state and will offer a carefully planned range of exclusive and casual restaurants as well as conference and banqueting facilities. The developer’s vision is for the complex to be a unique offering soon to be recognized as one of the best destination lifestyle addresses in the core of the city.