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Architecture

Hotel Development inks deal with Ennismore to open two hotels in Trojena

October 19, 2022 foasummit0

Neom’s hospitality division – Hotel Development – has inked an agreement with Ennismore, a lifestyle hospitality company, as its inaugural hotel partner. The deal will see Ennismore open two of its brands – 25hours Hotels and Morgans Originals – in Trojena, the mountain tourism destination that features a ski village in Neom city.

According to Hotel Development, the agreement aligns with its main goal of establishing global partnerships with reputed hospitality firms.

“Hotel Development aims to accelerate human progress by redefining how we travel, stay, and live. Our partnership with Ennismore echoes our mission to pioneer in the space of experiential hospitality in a way that shapes the future of hotels in the Kingdom and beyond. With a shared passion for developing differentiated and imaginative hospitality concepts, we look forward to seeing this relationship – and others like it – flourish,” said Chris Newman, Executive Director, Hotel Development at Neom.

In March 2022, HRH Mohammed bin Salman unveiled Trojena.

Early enabling construction works have already begun in Trojena, with main construction work on the ski village expected to begin at the end of 2022, Neom noted.

In addition to hospitality, the village includes residential components centered around a public plaza, as well as high-end retail and dining experiences. The sides of the mountain extend onto the roof of the village, creating a stunning ski slope skyline that can be activated year-round through various adventure sports facilities, it added.

Philip Gullett, Executive Director and Region Head, Trojena added, “The mountains of Trojena are set to become one of the most awe-inspiring destinations the world over. Both 25hours Hotels and Morgans Originals are ideal brands for Trojena as we look to deliver extraordinary experiences for residents and visitors seeking luxury, adventure, entertainment, livability, and escape from the status quo.”

In July 2022, the Saudi Crown Prince unveiled designs for The Line, and revealed the future city will be just 200m wide.

The 25hours team, together with founder Christoph Hoffmann and Berlin’s Studio Aisslinger are working on a bespoke story and design concept for Trojena, Neom said. The narrative is inspired by the futuristic architecture of the building, and will include nods to science-fiction movies as well as to the alpine heritage of the brand. The 25hours Hotel will have an in-house cinema, a farm-to-table restaurant, a bike workshop with co-working, as well as a rooftop restaurant with pool, it continued.

The Morgans Originals hotel will be designed to transport guests from the surreal and natural landscapes of Trojena, into a world rooted in the iconic cultural legacy of the brand. The hotel will feature four world-class dining outlets and a 2,000sqm destination spa and bathhouse, in addition to an architecturally significant ski slope roof and rooftop pool bar overlooking the dramatic Trojena mountains. The hotel will also feature an eight-storey vertical core with microclimates and immersive art experiences that will showcase the individuality of the brand, Neom explained.

Gaurav Bhushan, Co-CEO of Ennismore concluded, “25hours Hotels and Morgans Originals are lifestyle brands rooted in creativity, bringing design-focused spaces and authentic culinary experiences, creating deep connections with our guests. As we grow globally, we are excited for our brands to open in Trojena, a unique setting, which will attract both local and international visitors.”

In September 2022, it was revealed that over $1.1tn in real estate and infrastructure projects are currently underway in Saudi Arabia.

The post Hotel Development inks deal with Ennismore to open two hotels in Trojena appeared first on Middle East Construction News.


Source: ME Construction News

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Architecture

MCRE achieves record Q3 result of over $136mn in sales in Abu Dhabi property market

October 19, 2022 foasummit0

Metropolitan Capital Real Estate (MCRE) said it registered over $136mn in sales for Q3 2022 in the Abu Dhabi property market, making it the most successful third quarter in the company’s history. The firm said the result was a 200% increase from 2021 with record months in August and September.

According to MCRE, it recorded $40.8mn in sales in August, which represented 180% growth compared to August 2021. The firm said that result was followed up by a record month for September, when the company broke its monthly sales record registering over $68mn in sales – 200% growth for the month year-on-year.

The Abu Dhabi real estate market has been historically driven by residents with up to 80% of real estate purchases made by Emiratis or residents. However, Abu Dhabi’s growing attractiveness as a safe city for families and a competitive city for business and investment has helped its appeal with international buyers, the firm pointed out.

In September 2022, the Abu Dhabi DoE revealed new policies to accelerate the UAE’s move towards Net Zero and, later in the month, Abu Dhabi’s Al Qana announced the opening of the UAE’s largest cinema complex.

“The Abu Dhabi real estate market has seen phenomenal growth and has become a really attractive opportunity for investors and residents this past year. The summer is usually pretty quiet, however this year the Abu Dhabi market saw significant activity with UAE nationals and residents accounting for most of our transactions in Q3. Off plan transactions have always been the most popular, however the secondary market has recently taken off, which prompted us to expanded the size of our dedicated secondary market team to accommodate demand. The most popular locations for sales remain Yas Island, Al Saadiyat Island, Al Reem Island, Khalifa City, Al Raha Beach which account for 80% of our sales,” said Evgeny Ratskevich, CEO of Metropolitan Capital Real Estate.

In June, MCRE saw a significant increase in business from international clients, with 70% of its transactions coming from international customers. Investors showing the most interest in Abu Dhabi real estate were business owners and senior executives from the CIS region and western European countries such as Germany, France, Italy, Austria and Switzerland, it explained.

During the first four months of the year, MCRE said it also saw a 50% increase in international buyers vs. 2021, with nearly 90% of the buyers choosing to relocate to the city with their families.

In October 2022, the Metropolitan Group was recognised as the best place for women to work in the GCC and, later in the month, the Abu Dhabi’s Department of Municipalities and Transport unveiled the Abu Dhabi Digital Twin project.

The post MCRE achieves record Q3 result of over $136mn in sales in Abu Dhabi property market appeared first on Middle East Construction News.


Source: ME Construction News

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