Cayan appoints Rotana to operate Dubai project
Hotel to be branded Arjaan by Rotana, with the branded hotel apartments to go on sale
Cayan Group has appointed Rotana Hotel Management as the operator for the Cayan Arjaan Hotel Apartments project.
Work is expected to begin this month, as Shapoorji Pallonji has been appointed as the main contractor for the project.
The announcement was made at a press conference which was attended by Cayan Group chairman Ahmed Alhatt, Rotana chairman Nasser Nowais, Rotana president and CEO Omer Kaddouri, Shapoorji Pallonji International MD and CEO Mohan Saini and Shuaa Capital real estate director Ziad Kanaan.
Speaking on the partnership with Cayan Group, Nasser Nowais, Chairman of Rotana, said, “We are excited to partner with Cayan Group on yet another one of its iconic masterpieces. With Cayan Cantara Towers we are sure the project itself will marvel the visitors, and it is truly exciting to be a contributing partner in promoting quality, luxury, and an experience in Dubai.”
Mohan Saini, MD & CEO of Shapoorji Pallonji International, said, “Developing Cayan Cantara will be an exciting project, especially as we bring to life some of its architectural delights. We welcome the challenges involved in building this beautiful masterpiece without compromising on quality.”
Kanaan said: “Shuaa has also had a solid experience already working with Rotana, who are managing three of our own properties in Saudi Arabia. We look forward to leveraging this blend of expertise from the various partners to build out Cayan’s fund and deliver attractive returns to their investors.”
The project comprises of two towers - the residential and hotel apartment tower will include more than 700 units in the form of studios, apartments ranging from one-bedroom to three-bedrooms, and penthouses.
The project will offer amenities such as retail spaces, restaurants, meeting rooms, gym, spa, and lounge.
The Cayan Cantara project will offer the opportunity to invest in a rental pool which will be managed by Rotana at no extra charge and increase the overall ROI for the client by at least 8%, the parties claimed.