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Ras Al Khaimah, United Arab Emirates
The Sugee Group, in collaboration with Wyndham Hotels & Resorts, has announced the development of Vienna House Residences by Wyndham on Al Marjan Island in Ras Al Khaimah, making it the world’s first residential project with the Vienna House brand, with furnished units, hospitality and short-term rental possibilities.
According to a press release, the project represents the entry of the European brand “Vienna House” into the market of residential units with hotel brands for the first time in the world, in addition to expanding its presence in the Middle East, through a partnership between the real estate developer “Sogi” and the “Wyndham” group.
According to the two companies, the project will include fully furnished residential units, combining hotel services and the privacy of residential units, with the possibility of renting them for short periods, in a model aimed at buyers wishing to use personally or take advantage of rental opportunities.
Suji said the project will be the first of its kind on Al Marjan Island, which provides a short-term rental model within a residential project with a hotel brand, without announcing expected rental returns or details of management and operating fees.
Project Benefits and Hospitality Services
Unit owners will receive a one-year free Platinum membership in the Wyndham Rewards program, preferential rates for accommodation in a network of about 8400 hotels around the world, and the possibility to benefit from customized offers for program members.
Sogi Group announced the appointment of Invespy as a sales partner in the UAE to market the project through a network of real estate brokers and local and international sales channels.
The group also opened a new sales center in Dubai Marina, allowing potential buyers to view the designs and residential concept of the project before it is officially launched.
The statement did not disclose the investment value of the project, the number of residential units and their areas, sales prices and payment plans, nor did it specify the date of the start of construction or the expected date of delivery.
Suji expands into UAE real estate market
Sheikh Saqr bin Omar Al Qasimi, CEO of Marjan Development Company, said that the project combines international hospitality services and residential units, as part of the development plans for real estate destinations in Ras Al Khaimah.
Dimitris Manikis, President of Wyndham Hotels & Resorts in Europe, the Middle East and Africa, said the project marks the first entry of the Vienna House brand into the hotel brand residential sector, as it expands in the Middle East.
Imran Khan, founder and CEO of Inspy, a partner of the Suji Group in the UAE, explained that the project is aimed at buyers and investors looking for housing units linked to an international hotel brand, with the possibility of benefiting from short-term leasing.
The Soji Group has been in real estate development for nearly four decades and has activities in India, Portugal and the UAE, while its data indicate that more than 60 projects have been completed with a total area of more than 50 million square feet.
The Wyndham Hotels & Resorts Group operates a network of hotel concessions with approximately 8,400 hotels in nearly 100 countries, with a portfolio of 25 hotel brands.
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