Region’s first co-living hybrid hotel chain eyes portfolio with pipeline of Dubai, Riyadh properties.
The integrated model offers flexibility for short-term visitors and longer-term residents with various choices of lease options and services.
Saudi Arabia’s Arbah Capital, which is licensed by the Kingdom’s Capital Market Authority (CMA), and UAE-based Strategic Housing Group (SHG) have created a joint venture to develop and roll out the region’s first integrated co-living hybrid hotel chain called Innov8.
The model offers flexibility for short-term visitors and longer-term residents with various choices of lease options and services offered. In addition, the properties offer well-equipped private rooms and studios, as well as shared facilities such as eateries, common kitchen lounges, self-service and serviced laundry facilities, co-working, social and entertainment spaces, interactive fitness amenities, minimarts and more.
Innov8 aims to expand regionally and internationally, in the vicinity of working districts, including technology hubs, financial and commercial centres, medical precincts, airports, and industrial zones. The first properties in the pipeline are in the Gulf cities of Dubai and Riyadh, the firms said in a statement, adding that the joint venture is aiming for a $500 million portfolio.
The fusion residences are carefully curated to suit the futuristic and innovative ways of living, hosting upcoming generations.
