Falconcity Hotels & Resorts inks deal with Oakwood Worldwide

Falconcity Hotels and Resorts has announced the signing of an agreement with Oakwood Worldwide to operate the hotel and serviced apartments in the SAM Polaris and SAM Vega Pyramids. The signing was announced at the Cityscape Global exhibition in Dubai. The project is Oakwood Worldwide’s first undertaking in the UAE, which reflects Falconcity of Wonders (FCW’s) potential to attract leading players in the global hospitality industry to the UAE. The transaction was advised by Moon Hotel Management and Beaufort Global. The pyramid SAM Vega and the pyramid SAM Polaris form two out of three pyramids in the Pyramids Park and a part of the iconic Wonders of the World project within the magnificent Falconcity of Wonders and feature 1,500 and 290 units respectively. Both pyramids will have branded and furnished hotel and serviced apartments with associated leisure, F&B and retails offerings. Height of SAM Polaris is 94 metres with a total of 1,527 parking slots, while the 57 metres tall SAM Vega offers 490 parking slots. HE Salem Almoosa, Chairman and General Manager, Falconcity of Wonders LLC, said, “Our latest cooperation with Oakwood Worldwide to operate the hotel and serviced apartments in the SAM Polaris and SAM Vega Pyramids forms part of our continuing efforts to sustain global interest in Dubai’s real estate landscape. It also reflects the confidence of international hospitality players in Falconcity of Wonders’ potential to become a major landmark in Dubai and the region as a whole, presenting an extraordinary investment opportunity for investors looking to own remarkable properties in one of the world’s most popular real estate destinations.”