Dubai PR Network, Online Press Release from Dubai and Middle East
Money, Business & Investments(Banking & Investments)
Filter PR by
Najibi Investments' SANAD Capital Australia Set its Eyes on Hospitality for Sunshine Coast Project

Phase one of the AED1 billion development approved in February 2017; allies with top global hotel consultant for hotel roll out plan to open in 2020

The Dubai-based Najibi Investments announced today that its Australian development arm, SANAD Capital, currently developing the AED1 billion ‘Active Lifestyle’ project, code named ACTVE, on Australia’s Sunshine Coast, is set to submit phase two of the project, which comprises of a 200 room, upscale family hotel.

The Sunshine Coast Council recently approved phase one of the project and bulk earthworks are set to begin within the coming months.

“The strong market fundamentals of the Sunshine Coast suggest a favorable market environment to support the development of our hotel offering,” said Fredrik Jonsson, Managing Partner of MEREHA an experienced senior player in global hospitality development, asset management, and strategic advisory field.

With over 20 years of experience in the hospitality sector, Jonsson, who prior to establishing Mereha, served as Senior Vice President at the Investment Corporation of Dubai, where he established and led the asset management function of its hospitality division. Prior to that Jonsson oversaw the companywide asset management function of Qatari Diar, the sovereign development arm of the Qatar Investmetn Authority (QIA), including its hospitality division.

“Our research shows that the comparably limited supply of hotel rooms and high growth in visitation numbers provides for a positive trading environment for the hospitality industry on the Sunshine Coast in the years to come.”

According to research studies of the hospitality market in the Sunshine Coast conducted by SANAD Capital, hotels have witnessed unprecedented growth over the past five years, achieving record high annualized occupancy levels above 70%. The solid annual average daily rate (ADR) growth of 5% CAGR over the past years reached ADR’s over $200 in 2016. The research suggests that ADR trends are expected to see a continued strong growth in the years to come.

“Hotel accommodation is a vital tool in the Sunshine Coast’s growing tourism arsenal, and we aim to provide top notch services and amenities to help in attracting tourists to visit and stay longer in the area,” said Talal Y. Najibi, Executive Chairman of Najibi Investments.

SANAD Capital announced the ACTVE project after purchasing the 25-hectare plot in January 2016. Phase 1, will be built over 17 hectares and will consist of a state of the art waterpark, a great lawn for major events, an outdoor adventure tower, and a 6,000 square meter retail zone set to attract leading local and global brands along with a superb choice of restaurants.

“Our decision to work with Fredrik was based on his extensive experience from having worked with international hotel management companies, as well as blue chip development and ownership groups in the hospitality industry,” said Bradley P. Sutherland, SANAD Capital CEO.

After collaborations with leading global companies such as Thinkwell Group from the United States, WhiteWater (Canada), Jones Day, EY (Ernst & Young) and others, phase one of the development was approved by the Sunshine Coast Council in February 2017.

“From a design perspective, the hotel is envisioned to provide a seamless integration with the overall development and yet have its own identity to cater for both leisure and business guests,” Sutherland concluded.

Posted by : Dubai PR Network Editorial Team
Viewed 3928 times
PR Category : Banking & Investments
Posted on : Tuesday, April 11, 2017  11:06:00 AM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of
Previous Story : Study: Corporate governance and succession issues still houn...
Next Story : Wadi and Al Rajhi Bank announce new partnership
Email this article Print this article

Share this article with your friends and followers
Back to Section Home

Related Stories

Most Viewed Press Release posted in the last 7 days
Filorga Launches Lift Range [10230-Views]
Top Perfume Picks for Mother's Day @ [9534-Views]
Nissan's e-POWER technology wins environmental award [8400-Views]
The Sheet Mask Trend [8375-Views]
The Global Sensation UFO Lands in Europe at Cosmoprof 2018 [7582-Views]
Max launches its Inaugural Abaya Collection [7497-Views]
Mother's Day Offer from Blush N Curls Salon [7320-Views]
It's Mother's Day! [7302-Views]
Drink yourself to looking younger with Skinade [6984-Views]
Al-Futtaim Honda launches 10th generation Honda Accord [6869-Views]
Discover the MISA Cho Gong Jin Oriental and Herbal Skincare Range from Missha [6869-Views]
LULU Organic Food Activation [6728-Views]
Corporate Power Dressing redefined at Kachins Signature [6387-Views]
The V-Tox Facial by Linda Meredith Skincare [6381-Views]
An Open Secret - The new Flying Regulator Open Gear provides deep insights [6094-Views]
The only line you'll love in your face – your perfect jawline! [5941-Views]
GMC sets a new GUINNESS WORLD RECORDS title in partnership with Abu Dhabi Police [5826-Views]
OMEGA Launches its NATO Strap “Pop-Up Boutique” in Paris [5728-Views]
UAE Jiu-jitsu Federation® Conducted the Official Weigh-ins of Abu Dhabi Grand Slam® in Lon... [5575-Views]
Reading Champions Declared at 10th Emirates Airline Festival of Literature [5502-Views]
Cadillac Alghanim kicks off world-class opportunity in Kuwait [5472-Views]
A Meet & Greet with the Pakistani Cricket Sensation Umar Akmal [5466-Views]
ba&sh's Spring-Summer collection 2018 [5331-Views]
Milan-san Remo a Dream Target as Uae Team Emirates Announce Super-seven Line Up [5161-Views]
Raymond Weil introduces the Maestro Blues [5161-Views]
RSS Facebook Twitter LinkedDin
Top Sections
Top Stories