Apartment Hotel for Sale in Jeddah, Corniche, Saudi Arabia

A Hotel or Residantial Tower for Sale in Jeddah Saudi Arabia

Great location on Jeddah's North Corniche. A hotel with all-suites/all-apartments concept. The hotel occupies the Northern Tower of the building, with its own parking, entrance, lobby, elevators, back offices, laundry, restaurants and meeting rooms.

Investment Advantage:
1. The only hotel project that is in an advanced phase of construction.
2. Other projects require lead time of 24-36 months.
3. International Hotel Chains have expressed interest in managing this facility.

Financial Indicators:
- Units: 175
- Construction Period: 1 year
- Initial Occupancy Rate: 57%
- Stabilization Occupancy Rate: 75%
- Weighted average room rate for Y1: US$ 133
- Expected GOP is 56%
- IRR in 7 years of operation is 28%
- HARTT is willing to provide all legal and advisory support to execute your transaction smoothly.


Price and Details:
- Special offer price is SR. 157,500,000 (USD.42,000,000).
- Special price for a square meter is SR.14,106 (USD.3,762)
- HARTT Fees: 3.0% for Structure, Arrangement, Brokerage & Legal Services.
- Land area is 4,700 sqm
- GBA (Gross Built Area) /Salable area of hotel is 11,166 sqm
- Total GBA including Right of Use of Public Space is 12,439 sqm

Only serious investors may contact us. A qualified investor/buyer must be able to close the transaction in (30) days from submitting an LOI.
An LOI must be send with a 10% deposit.
HARTT can arrange all site inspections, technical and legal documents for buyers review.