Travel, Tourism & Hospitality
Shuaa unit partners with St. Regis for high-end London residences
Shuaa Capital, a Dubai-based asset management and investment banking platform, said its subsidiary Northacre has joined forces with St. Regis hotel brand to launch its first branded residence at No 1 Palace Street, one of London’s most coveted addresses.
Shuaa Capital, a leading asset management and investment banking platform in the region, has announced that its subsidiary Northacre has joined forces with the globally-renowned St. Regis hotel brand at No 1 Palace Street.
Located at one of London’s most coveted addresses, No 1 Palace Street, adjacent to Her Majesty’s official London residence, Buckingham Palace, the building comprises 72 apartments, each individual in design and layout, said a statement from Shuaaa.
Scheduled for completion later this year, this luxury development will allow its residents to ‘live exquisite’ by offering an array of extraordinary services, exclusive to No.1 Palace Street, The Residences, it added.
This truly unrivalled location, combined with the glamorous spirit, high design, and celebrated heritage of St. Regis, will create an unmatched offering for Northacre’s first branded residence, said a top official.
"As part of our successful investment strategy in the UK property market, we are ecstatic to have Northacre partner with St. Regis, one of the world’s most celebrated hotel brands, as we take our landmark residence through completion over the coming months," remarked Jassim Alseddiqi, Board Member and Managing Director of Shuaa Capital.
"The bespoke service St. Regis is known for, combined with our passion for creating extraordinary buildings that are environmentally and architecturally exceptional, will enable us to deliver the ultimate London address whilst enhancing the health and wellbeing of our residents," he noted.
CEO Fawad Tariq Khan said: "An address that carries a prestigious name will always have high value and serve as an excellent investment for investors who are increasingly seeking quality properties with the prestige, comfort and services that a hotel brand and operator can provide."
"Northacre's collaboration with a renowned brand like St. Regis will elevate No. 1 Palace Street's appeal among real estate investors," noted Khan.
On the strategic tieup, Satya Anand, the President of Marriott International (Europe, Middle East & Africa) said: "The signing of No.1 Palace Street, The St. Regis Residences London, marks a pivotal moment in the growth of Marriott International’s portfolio of branded residences."
"Situated at London’s finest address, The St. Regis Residences, mark the first standalone branded residential property for St. Regis in Europe, and is set to deliver a new level of bespoke luxury living in the heart of the city," he stated.
"This licence and management agreement is a testament to Northacre’s faith in the storied St. Regis brand, and we look forward to working with them to bring the sophisticated style and exquisite experience, for which St. Regis is renowned, to London’s residential property market," explained Anand.
A range of apartments from one- to five-bedrooms and penthouses are available for purchase immediately and residents can expect to receive the full St. Regis experience from October 2022, he added.-TradeArabia News Service