Case Study:
Mixed-Use Resort Feasibility Study
Background
Our client was looking to develop a luxury resort in Dubai that would include a 5-star hotel and hotel apartments, luxury residential apartments, offices and retail space. Before embarking on this large-scale project, NorthCourse was asked to determine the highest and best use of the site based on current and projected market dynamics.Analysis
We conducted extensive primary and secondary research into multiple components such as the hospitality, residential and commercial market segments. Working closely with our client and its representatives, we guided development of the concept, determined its feasibility from an engineering and technical perspective, and evaluated its financial feasibility.Recommendations
NorthCourse recommended pursuing the 2- and 3-bedroom market and including a 5-star hotel managed by a branded luxury operator. We provided an area schedule detailing the area of each component such as rooms, amenities, roads and other infrastructure requirements. Finally, we determined the project's financial feasibility yielded an IRR of 27.2%, considerably higher than the client's hurdle rate of 15.0%.NorthCourse has the vision to anticipate opportunities before they become industry trends.