Dubai, United Arab Emirates, 15 November,2016: Cheval Residences Group, a leading London developer, announced growing investor interest in the GCC serviced apartment sector as investors capitalise on the region’s growing hospitality market and rising trend of the extended stay model.   

At the annual Global Serviced Apartment Summit MEA held in Dubai, Cheval Residences’ senior representatives shared their expertise as leading specialists in the serviced apartment sector, manging third party assets as well as creating award winning residences. The group is renowned for its collection of luxury serviced apartments and penthouses located in London’s most desirable addresses.

“The serviced apartment, branded residences and extended stay sector is taking off in the GCC due to a number of contributing factors. Firstly, the continued fast pace growth of the UAE’s hospitality market is paving the way for diversification, increasing investor opportunities in sectors like serviced residences, ” commented Mohammed Almarzooqi, managing director, Cheval Property Management and Cheval Residences.

 “The GCC region continues to be a significant contributor to business in to our 4* and 5 * London residences for both short and extended stay. This popularity naturally lends towards increased demand for serviced residences in not only London but also cities like Dubai and Abu Dhabi. The luxury and convenience of these properties coupled with added value due to the UK pound fluctuation is further pushing bookings and investments in this sector,” he continued.

At the summit, Cheval Residences highlighted how operating a luxury serviced apartment complex can prove to create an alternative, flexible and more competitive financial return than building and operating a hotel.

According to a recent Colliers International report at least 10,000 additional serviced apartment units are required to fulfil projected demand in Saudi Arabia, the UAE and Qatar. Mr Mohammed Almarzooqi, managing director, and Mr George Westwell, director, Cheval Residences, participated in panel sessions with a group of active owners and investors in the sector who shared their views on the opportunities to cater for this projected demand.

Mr George Westwell, director, Cheval Residences said, “We are in Dubai to further showcase opportunities for investors and developers in the regional serviced apartment sector. As part of our planned international expansion we’re excited to be adapting our award winning business model from the UK to the GCC.”

This year, Cheval Residences has focused on launching exclusive Extended Stay developments in the UK within existing residences at both Cheval Knightsbridge and Cheval Hyde Park Gate to cater for growing demand from the GCC.

With the expertise of building turn-around and quality of property portfolio management Cheval Residences have an exciting array of London based case studies which demonstrate high returns and value; a skill set which they are ready and primed to take worldwide.

Cheval Residences’ London collection of serviced apartments and penthouses feature eight residences, each with their own individual style, yet all share the same ethos and levels of service rarely enjoyed outside the world’s finest hotels. What sets the brand apart is that Cheval Residences provides the traveller a cost-effective alternative to 4* and 5* hotels, with the same level of exclusive service. Guests are able to experience the comfort of a ‘home from home’, whether for a one night stay or longer rental period for months at a time. Each of the residences offers a dedicated concierge service to support any guests’ needs.

For further information please visit www.chevalresidences.com  

About Cheval Residences 
Cheval Residences offers a beautiful collection of serviced apartments, townhouses and penthouses in some of London’s most desirable addresses; Cheval Gloucester Park, Cheval Thorney Court, Cheval Knightsbridge, Cheval Calico House, Cheval Harrington Court, Cheval Hyde Park Gate, Cheval Phoenix House and Cheval Three Quays.  Each of the eight residences has its’ own individual style, yet all share the same ethos and levels of service rarely enjoyed outside the world’s finest hotels.  The apartments vary from an elegant open plan one bedroom apartment to a spacious four bedroom penthouse.

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© Press Release 2016