Roya on hunt for operator for The Onyx development
Dubai-based international specialist hospitality consultancy Ròya has signed a comprehensive agreement for strategic development and hospitality advisory services with The Onyx for Development Ltd.
The role will include the operator search for a new 210-room lifestyle hotel, apartment and mixed-use complex located on Sheikh Zayed Road.
The Onyx for Development Ltd is a subsidiary of Ishraqah For Development Ltd, which started as an alliance between two large Saudi-based groups, Al Zahran Group and Ben Mahfouz Group.
The Onyx has completed the 2,000,000ft2 project in The Greens master development, which consists of three towers. Two of these are commercial and residential with 305 office units, 169 residential apartments, as well as a three-floor podium of retail and F&B outlets.
It also includes a hotel tower: a 14-storey 210-room lifestyle hotel which will also include 50 branded lifestyle apartments, a arange of restaurants and conference and banqueting facilities.
The commercial spaces and residential tower are sold or offered for sale, and Ròya will provide comprehensive strategic and hospitality advisory services for the currently unbranded shell-and-core hotel and 50 luxury apartments.
Ishraqah For Development CEO Ammar Sweis said in a statement: "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.
"Ròya 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."
Ròya 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.
"Selecting and working with the right operator after our initial strategic work is essential for the final long term success of all parties involved.”