خدمات عقارية/خدمات/التسويق العقاري

Hotel Investment for Sale

Makkah
Updated 17 hr. ago
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Peace be upon you, This is an opportunity to acquire the investment rights for an existing hotel towers project in the central region of Mecca, opposite "Masar Destination" and approximately 950 meters from the Grand Mosque. It offers easy walking access for pilgrims and Umrah performers, and convenient access to surrounding transportation services. Key Project Specifications: • Waqf Land Area: 4,815 m2 • Building Area: 103,660 m2 • Total Floors: 31 floors • Number of Rooms: 1,480 rooms • Announced Capacity: 5,920 pilgrims • 25 elevators and 5 service elevators • Restaurant, prayer area, halls, parking, and services • 8 commercial shops: 2 large and 6 small The deal involves the assignment of investment rights and buildings, not the sale of the land, for 400 million Saudi Riyals. The remaining term of the Waqf contract is 19 years, with the remaining rental mechanism as detailed in the progressive table below: • 4 years remaining x 15 million • 5 years x 20 million • 5 years x 25 million • 5 years x 30 million The hotel is currently leased under a contract worth 70 million Saudi Riyals annually. There are 4 years remaining with a total contractual income of 280 million Saudi Riyals. * The new investor must adhere to the contract signed with the tenant. The shops are also leased to a single investor with an annual income of 7.5 million Saudi Riyals. Assuming these two contracts are independent and continue to be collected, the total announced income is 77.5 million Saudi Riyals annually. This equates to a gross return of 19.4% on the assignment amount. And a difference of 62.5 million Saudi Riyals annually after the current Waqf rent and before expenses, taxes, and financing. The project has significant growth potential and is not fully utilized. The capacity of 1,480 rooms makes an annual income of 100 million Saudi Riyals a conservative operational scenario, with the potential to achieve higher revenues from rooms, restaurants, halls, retail, and services for pilgrims and Umrah performers. STR data, for approximate comparison, indicates: That a hotel adjacent to this hotel or one of its competitors achieved approximately 150 million Saudi Riyals in 2015 and later exceeded 300 million Saudi Riyals. After the current lease contract expires, the rent can be renegotiated at a higher rate, the hotel can be operated directly, or it can be entrusted to a hotel management company, which could achieve a much higher return depending on the operating model, occupancy, and seasonal pricing. Serious investors, after demonstrating seriousness by signing an agreement, can review the contracts, licenses, and collections. The assignment amount is to be paid in full upon final simultaneous completion. A Gulf company can enter directly according to its legal eligibility or through a Saudi representative with a notarized power of attorney. An investment memorandum and a draft comprehensive agreement in both Arabic and English are available for serious parties. Brokers are prohibited. This offer is directly to companies.