Gulf Construction Online - Stirling awards management contract for Mered flagship tower

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Stirling awards management contract for Mered flagship tower

29-04-2024

Stirling Hospitality Advisors, one of the leading boutique advisory firms in the region, has announced that it has selected Valor Hospitality to oversee the future management of Iconic Tower, the flagship project of luxury real estate developer Mered, located in Dubai.

Designed by leading Italian architectural group Pininfarina, the 286.4-m-tall tower will serve as a new landmark in Dubai Internet City and will feature 310 exclusive apartments. It is set to harmoniously merge beauty and technology to stand out in the growing cosmopolitan hub of Dubai.

Offering top-class amenities including a private cinema, an infinity pool overlooking the Dubai skyline, a fully equipped gym, 423 dedicated parking spaces, and much more, said Stirling in a statement. It is slated to be completed by the second quarter of 2027.

Led by Michael Bagdasarov, Senior Advisory Manager at Stirling Hospitality Advisors, the team successfully completed a third-party operator search and selection to manage the property under Mered’s brand.

Stirling, a key subsidiary of Ras Al Khaimah (RAK) Hospitality Holding, had selected Valor Hospitality as the property’s management company to create a product that will stand out in terms of residents’ and guests’ experience alike.

As part of the Technical Services Agreement signed by Valor Hospitality, they will also support Mered by consulting on the design of both front-of-house and back-of-house areas to ensure the highest level of service, as well as the smooth running of operations, it stated.

Tatiana Veller, Managing Director of Stirling Hospitality Advisors said: "We are delighted to have selected Valour Hospitality to ensure the future successful management of Iconic Tower, a luxury serviced residential building that stands as a significant milestone in Dubai Internet City. Our team worked extensively to pinpoint the ideal partner capable of delivering the high standard of luxury services envisioned by Mered."

"We also carefully negotiated contracts to ensure alignment with our expectations for excellence. The Iconic Tower is set to be a cornerstone in the ongoing transformation of Dubai Internet City and we are excited to contribute to its evolution into a vibrant and upscale part of town," she noted.

Mered CEO Diana Nilipovscaia said: "We are excited to partner with Stirling Hospitality Advisors as our lead consultant for the operator search for our flagship project in Dubai Internet City - Iconic Tower. Property management is one of the key elements in premium real estate experience we aimed to deliver in our project."

"Stirling Hospitality Advisors’ proven track record as well as comprehensive research and expertise have helped ensure the project is managed seamlessly with all key stakeholders," he added.

As a subsidiary of Ras Al Khaimah (RAK) Hospitality Holding, Stirling is one of the leading boutique advisory institutions in the region.

Currently, the advisory firm asset manages over 3,500 hotel rooms in three countries and is responsible for a hotel and resort portfolio valued at over $1.25 billion.-TradeArabia News Service