We are seeking to make a strategic investment of approximately USD 100 million to acquire a premium five-star hotel situated in the city of Mecca, Saudi Arabia.
Our focus is on selecting a hotel with a prime location that offers excellent prospects for growth, ensuring that it is not only modern but also impeccably maintained.
To facilitate this endeavor, we have secured financing from a top tier Italian bank. Furthermore, we can establish a collaboration with a trusted local Saudi bank, which will actively participate in this venture and provide additional financial support, adding a layer of security to our investment.
Hi there, further to your inquiry, please note the following:
Location: Within walking distance from KAABA in Mecca.(about 500 meters).
Rooms: 400-450 rooms
Rating: 4 star.
Revenue: 2022 year about 470 million Saudi Riyals.(Approx. US$ 125.5 Million USD).
Asking price: Saudi Riyal 650 million Saudi Riyals. (Approx US$ 174 million).
Broker commission: Standard in SA for real estate transactions is 5% of the final price. So that would be expected for the guys in the ME. This does not include platform operators and my fees.
Important info for the potential buyer:
1- Currently foreign nationals can not buy property in SA. However there is a new program (Golden Visa) via which a foreign national has to invest a minimum of 1 million Saudi Riyals and he gets to do any and everything that a Saudi national can do except he can not get the Saudi nationality/passport.
2- Currently the hotel is not listed for sale but the owner is interested in selling if he gets the proper price.
Finally, I lived in the Middle East for 15 years and got the above via my channels there.
Please review and confirm if this is of interest so as to proceed further accordingly. For any questions please let me know. Thanks.
Brgds
Good afternoon,
Thank you for your offer for this hotel. Would it be possible to get some pictures (through the platform, or the moderator) ? I am looking for a 5* but could also consider a 4* as well.
How are you connected to the owner of the hotel ? How strong is the link to the owner ?
Thank you