Dubai, United Arab Emirates – Arbah Capital and Strategic Housing Group (SHG) have created a joint venture to develop and roll out the region’s first integrated co-living hybrid hotel chain, ‘Innov8’. The brand will be expanding regionally and internationally, in dynamic cities, in the vicinity of working districts, whether technology hubs, financial and commercial centres, medical precincts, airports or industrial zones. The first properties in the pipeline are in the Gulf cities of Dubai and Riyadh. The joint venture is aiming for a half billion-dollar portfolio.
These fusion residences are carefully curated to suit the futuristic and innovative ways of living, hosting the upcoming generations. The “Gen Z” population is digitally native and highly loyalty driven, considering technology very important. ‘Innov8’ will be the launchpad for starting their professional journey with the ideal living environment. The launch of this chain is aligned with regional government initiatives, particularly in the UAE and KSA, where they address rising youth challenges and drive nationalisation employment agendas. While the government creates job opportunities, ‘Innov8’ establishes the perfect living conditions for the new generations to find success.
The model gives flexibility for short-term visitors and longer-term residents with various choices of lease options and services offered. In addition, the properties offer well-equipped private rooms and studios, as well as shared facilities such as eateries, common kitchen lounges, self-service and serviced laundry facilities, co-working, social and entertainment spaces, interactive fitness amenities, minimarts and more.
Arbah Capital is licensed by the Capital Market Authority (CMA) in the Kingdom of Saudi Arabia as a closed Saudi joint stock firm. Arbah’s principal activities include Asset Management, Real Estate Investment, Private Equity, Corporate Finance, Wealth Management, Brokerage, Custody and Advisory Services. The firm delivers investment solutions to a broad range of investors including institutions, high net worth individuals and family offices.
Real estate is one of Arbah Capital’s core areas of expertise. The firm understands that the real estate market presents an extremely desirable investment sector for their clients. The targeted sectors in real estate are social infrastructure, residential and technology across the GCC, UK and USA. “I am pleased to work together on this first of its kind real estate development with the experts of the region”, says Mr. Mahmood Yousif Al-Kooheji, CEO of Arbah Capital, while visiting the SHG head office in Dubai International Financial Centre to sign the joint venture founding agreement.
SHG is a specialised housing expert, developer and operator of The Myriad brand, the first fully integrated student co-living communities of the Middle East region. The firm is in a joint venture with Asset Living, The United States’ largest third-party manager of student housing with over 160,000 beds under their management and 40 years of experience in the industry. SHG have developed and are currently operating properties in the UAE, Oman and South Africa.
The firm’s mission is to provide safe, fulfilling and modern living communities, that truly embody a world class lifestyle and represent a fresh experience of living that is based on in-depth research and analysis of today’s housing expectations. “We are honoured to start this project in today’s fast paced market with the specialists of the region, especially when it comes to real estate development and technology driven product roll-out”, says Mr. Vik Rao, CEO of SHG, while entering into this long-established partnership with Arbah Capital.
*Source: AETOSWire
