Press Release: الفناء Al Fana:
Announcement of New Hotel Project in Riyadh City: The Sales Process has started for GCC Top Developers, Land & Project Sale, approaching first Development Partners.
Qore – a real estate family office serving a global clientele for commercial and infrastructure properties – has completed its studies with a world-renowned architect on behalf of a local family for a brand-new hotel and suites project in the city of Riyadh. The first Development Partners are now being approached. The project sales process is now open to interested parties.
Project "Al Fana, Riyadh"
Announcement of Land and Project Sale and approaching first Development Partners
Al Fana – A Design Masterpiece – internationally recognized Masterplanning Architects
Al Fana represents an iconic design inside out. With its internationally recognized partners as master planning architects, the project is a uniquely designed masterpiece.
The integrated technology is just one part of many elements, leading to the example of a state-of-the-art real estate development for the city of Riyadh.
Background:
Qore has been engaged as the exclusive advisor for the design and pre-development of a hotel project in the city of Riyadh.
The planning process is now completed, and the owner is prepared to sell the land and the project to a suitable developer or hotel investor, who would like to acquire the land and finalize the project to start construction.
Key information:
Total keys: 203
Hotel operator: flexible. International top brands are engaged. The buyer is free to choose any operator of his choice
Address: King Abdulaziz Road, Al Dhubbat Area, Riyadh, KSA
Land area 2400 m2
Build area ration 40 %
Build area Surface 960 m2
Number of floors 13 floors
Service floors 3 Reception / facilities /offices, etc.
Floors available for room usage 10 Rooms and services
Area available for room 5760 m2
Circulation area and service 3840 m2
Area available for services 2880 m2
Total area 12480 m2
Location:
The land plot has excellent access through 3 sides of the building. The main street King Abdulaziz Road has just recently been upgraded with trees and high quality lanes, and the backside road from the land plot has traffic roads in both directions, which represents a great access from both sides of the building.
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A metro station is in less than 1m walking distance.
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The site is strategically located in Central Riyadh along King Abdulaziz Road, connected to Makkah Road, one of Riyadh’s main arteries, allowing for strong connectivity to primary destinations in Riyadh
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The subject site benefits from close proximity to key demand drivers, most notably; Prince Sultan Military Medical City and King Fahad Medical City. King Khalid
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International Airport is located 30 minutes away from the site
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The site enjoys high visibility from the Street due to its frontage location
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The site is surrounded with medium to high density residential districts acting as key demand generators, as well as many government entities
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Capitalizing on high visibility to develop unique offering
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Potential to introduce diverse offering and to leverage on the surrounding demand sources, mainly government entities and communities by developing a healthcare component supported by retail services/concepts that support future footfall within the project and the direct catchment area
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Major projects like King Salman Park and the residential-led Rabwa Project by AWJ Holding lie within 5km radius of the project. These projects are expected to create a more liveable and attractive area in the vicinity and may act as key demand sources for project
Hospitality market opportunity for the project area:
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Greater opportunity for upper upscale boutique offering, as 4-star market
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becomes more competitive, and in line with the expansion of demand
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sources driven by local & international tourism
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Providing unique brand & a lifestyle offering catering to young Saudis and business Travellers
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Leverage on potential demand synergies with other project components by delivering unique,
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hospitality offering to complement the wider project concept
"Development for International Hotel Projects and Branded Residential in the World's Top Cities and Destinations. The owner is looking forward to handing over the project to a top-class developer who will complete the project."
Experienced Development team with Brand- and Hotel Collaborations and best-in-class Designers serving Owner Families in Europe, US and the GCC region.
Expertise and Commitment: Our Platform
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Qore specializes in asset-based investing, combining real estate development and finance expertise.
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Our integrated investment platform, staffed with professionals in real estate and international brand collaborations, provides tailored investment solutions for institutional clients and other family offices.
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As an independent and entrepreneurial group, we invest often alongside our clients, ensuring quality and financial performance.
Hotel Brands
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Hotel brand collaborations
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Hotel design concept
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Hotel operator selection
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Hotel management agreement HMA negotiations
Brands for Luxury Residences
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Luxury residences concept
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Brand collaboration agreements
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Feasibility studies in partnership with 3rd parties
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Architectural design and concept masterplan
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Cashflow models and economics
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Financing and development
International F&B Brand Collaborations
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International F&B brand collaborations
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Selection of brands and framework agreements
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Design masterplan together with F&B brands
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Cashflow models
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Lease agreements
Development and Concept Design for Hotels and Branded Residential Projects
Off-market Deals across various Themes, building a customised Portfolio together with our Clients.
A strategy that can be customised to the Investor's requirements. With decades of experience, the management partners are in the position of sourcing, acquiring and managing the properties for the qualified investor.
"Branded luxury hotels and residences are – if developed with the right partners at the right location – an excellent real estate asset class."
From Family to Family: The Switzerland-born, raised and educated Oliver Spring, Founder, President & CEO Qore, a Real Estate Family Office and Entrepreneur with global Partnerships and Clients.
