UAE: Arbah Capital and Strategic Housing Group have started development for the first i8 Hotels property, which is set to be a part of a US£500 million targeted portfolio.
The partners teamed up earlier this year to roll out the GCC region’s first fully integrated coliving concept, and intend to develop the hybrid hotel and coliving properties internationally.
The i8 hybrid coliving concept, in in Dubai Internet City, will provide 256 rooms across 15,000 square metres.
Communal areas will include kitchen lounges, laundry facilities, coworking, social and entertainment spaces, a fitness centre and a mini-mart.
Mahmood Al Kooheji, CEO of Arbah Capital, said: “We areexcited to launch this brand and are confident that it will deliver tremendous value to prospective tenants and investors.”
Vik Rao, CEO of Strategic Housing Group, added: “The goal of this brand is to bring a new social dynamic as well as added convenience to the market and today’s lifestyle needs.”
The hotel is scheduled to be delivered in 2024 and will provide flexibility for short-term visitors and long term residents with various choices in leasing options. The interiors of the hotel will be designed “to reflect urban living and high-quality design that will create a sense of community in the communal areas through open plan spaces”.
