Arbah Capital and Strategic Housing Group (SHG) have announced that development has begun on the first i8 Hotels property in their portfolio, which is targeted at USD 500 million. The two parties teamed up earlier this year for the implementation of the region’s first integrated co-living residences and hybrid hotel concept under the Innov8 Living umbrella.
The new i8 Hotel at DIC will feature 256 rooms spread across a total floor area of 15,000 m2. The hotel will be strategically located in Dubai Internet City (DIC), and will provide comfort, visual aesthetics, and convenience across the accommodations and shared areas including eateries, common kitchen lounges, and laundry facilities. Guests and residents will also benefit from versatile co-working, social, and entertainment spaces, interactive fitness amenities, a mini-mart, and much more.
Mahmood Al-Kooheji, CEO of Arbah Capital, commented: “We are very excited to launch this brand, which we are confident will deliver tremendous value to both prospective tenants and our investors. This is just the first in a series of investments we will make in developing a broad portfolio of innovative properties, and we are looking forward to exploring further opportunities throughout the region.”
SHG will leverage the expertise and wealth of experience it has gained in developing and operating over 5,000 beds in the GCC region to ensure that exceptional brand standards are achieved and the vision of the appointed architects, FACE, is brought to life throughout the property.
Vik Rao, CEO of Strategic Housing Group, added: “With the launch of the Innov8 Living brand, our goal is to bring a new social dynamic and added convenience to the market that speaks to the needs of today’s lifestyles. The first of our properties in Dubai Internet City will set the benchmark for this concept with its exceptional quality and ideal location in the heart of the city’s thriving technology hub.”
Dubai Internet City has established itself as the location of choice for leading multinational technology firms from across the globe, while the neighboring districts of Dubai Knowledge Park (DKP) and Dubai Media City (DMC) host more than 3,000 companies and 50,000 employees. These include renowned global organizations such as Hewlett Packard, Google, Cisco, Oracle, CNN, and CNBC. Several prominent educational institutions are also located nearby with over 20,000 students attending, including Middlesex, Heriot-Watt, and Wollongong Universities, and Hult International Business School.
Arbah Capital and Strategic Housing Group are looking to expand their operations into other regions, developing hybrid hotels and co-living residences in cities near technology hubs, financial districts, medical areas, airports, and industrial zones.
Innov8 Living’s hybrid hospitality model provides flexibility for short-term visitors and longer-term residents with various choices of lease options and services offered. The new property caters to the needs of guests who are pragmatic, driven by ambitions of a quality lifestyle, and appreciate unwinding from the bustling everyday routine. Its interiors reflect urban living and high-quality design, which creates a sense of community in its communal areas through timeless open-plan spaces that blend modern materials and colors while ensuring the utmost convenience for self-sustainable living.