Role will include operator search for mixed-use complex located on Sheikh Zayed Road
The Dubai-based hospitality consultancy Ròya International has been appointed to provide advisory services for The Onyx development on Sheikh Zayed Road.
Ròya will also act as lead advisors in the operator search, evaluation and selection process for the mixed-used project, having been engaged by The Onyx for Development, a subsidiary of Ishraqah For Development.
The Onyx has completed the 2,000,000 square foot project in Dubai, a three-tower class A commercial, residential and retail complex.
The project includes 305 office units, 169 residential apartments with a three-floor podium of retail and F&B outlets, as well as a 14-storey 210-room 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,” a statement said.
The complex is in the Greens master development, close to the Mall of the Emirates and The Palm.
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. 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.”