GII signs Marriott for luxury resi management

Shariah-compliant investor Gulf Islamic Investments has teamed up with global hotel giant Marriott to manage its luxury residential development in Chelsea, SW3. Marriott will manage the 31-home The Lucan scheme under its Autograph Collection brand. It will be the hotelier’s first Autograph Collection residence in the world. The seven-floor Lucan is scheduled for completion in 2024 and flats in the scheme are expect to sell for upwards of £3m. Mohammed Alhassan and Pankaj Gupta, co-chief executives of GII, said: “The Lucan represents a pivotal project for GII, marking our first foray as both investor and developer. Our intention is to deliver a boutique development that not only offers an exceptional quality of life, but one that matches the highest international standards for luxury lifestyle real estate.” Jaidev Menezes, regional vice president, mixed-use development, EMEA at Marriott International, said the group was looking forward to playing a “meaningful role in GII’s vision for The Lucan”. To send feedback, e-mail samantha.mcclary@eg.co.uk or tweet @samanthamcclary or @EGPropertyNews Photo: Plomp