Sonder expands its presence in the Middle East with the addition of a tower in Dubai
WE: New generation hotel business Sonder is expanding its presence in the Middle East by adding two more buildings to its growing portfolio in Dubai, United Arab Emirates.
Through an agreement with Al Fattan Properties LLC, Sonder will manage and operate two of the three downtown Al Fattan towers, overlooking Burj Khalifa, which will be operated as Sonder Downtown Towers.
Comprised of two and three bedroom apartments ranging in size from 1,900 to 2,400 square feet, the towers will add more than 300 units to Sonder’s existing portfolio of operations in Dubai. The company currently manages and operates JBR Suites, a 164 unit property at Jumeirah Beach Residence [JBR], which has been open to guests for over a year.
Sonder said he is also exploring further expansion in the Palm Jumeirah, Dubai Marina, La Mer, City Walk and DIFC areas of Dubai.
Soby Joseph, Executive Director of Al Fattan Properties LLC, said, “We are delighted to continue to partner with Sonder, whose innovative, customer-centric approach to hospitality meets the preferences of modern, urban travelers. , family and business travelers who frequent Dubai. . Sonder is a well-capitalized operator who offers peace of mind and a fixed income for real estate assets.
“They continue to be one of our privileged partners for developments in Dubai,” he added.
Martin Picard, Global Head of Real Estate at Sonder, said: “We remain optimistic about expanding to Dubai as it is one of the most visited cities in the world, renowned for its magnificent design and architecture. and is a global real estate hub. These are all attributes that fit Sonder’s brand and mission perfectly and we plan to continue to grow Sonder’s footprint in the region.
“We have seen a very good performance from our inaugural property in Dubai, JBR Suites. We are extremely happy to partner again with Al Fattan to take over the operations of what will be Sonder’s fourth largest signing in terms of units, ”he added.
In order to support the company’s expansion in the region, Sonder also recently appointed Rishad Poonawalla to the newly created role of Director of Real Estate in Dubai. Poonawalla previously worked in Dubai with the Jumeirah Group, as well as at Whitbread Plc [Premier Inn Hotels] and Ernst & Young’s Transaction Real Estate & Hospitality practice.
Headquartered in San Francisco, Sonder operates in more than 35 cities in nine countries, with approximately 15,000 active and contracted units worldwide. The company partners with real estate owners and owners to rent and design, manage and operate hotels and apartments.
All Sonder spaces in Dubai come with full kitchens and balconies, as well as access to a fully equipped gym, large swimming pool, and laundry services. The Sonder Downtown Towers are slated to open to customers later this year.
Launched in 2014, Sonder announced its intention in April to go public through a merger with an ad hoc acquisition company [SPAC] Gores Metropoulos II, which would give the combined company a pro forma enterprise value of $ 2.2 billion and over $ 700 million in net cash at closing.
Then last month, the firm launched on the Global Distribution System [GDS] and in partnership with a number of leading travel management companies [TMCs] and consortia, including Egencia and TripActions, to expand into business travel.
Sonder also reported the highest quarterly revenue in its history in terms of financial results for the three months ending June 30, 2021, which it said were driven by a “robust” recovery in travel demand. and the rapid and continued expansion of its Live Unit portfolio.
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