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Shared Ownership.

Partial ownership deed is a document which grants its holder usufruct (legal right to use another's property) of a certain housing unit in the Meridien Hotel Towers during certain periods of the Hijri year (often one week, but could be more), which is repeated throughout 25 years for the payment of advanced fees.

The deeds of the Meridien Hotel Towers project are characterized by a set of advantages, which can be summed up in the following:

• The usufruct of the hotel units in the Meridien Hotel Towers will be documented by the deed contract
• Share-in-benefit system, which depends on the operation of the Meridien Hotel Towers deeds, is permitted by leading Muslim scholars
• Deeds grants their holders the right to use the hotel units during the period and time specified in the contract
• The deeds allow Muslims all over the world to benefit from the units.
• The deed holder is at liberty to dispose of the hotel unit usufruct period, whether by way of gift, assignment, succession or will

Advantages

• Guaranteed accommodation for the deed holder during specified periods including peak seasons such as Ramadan and Hajj
• 5 star hotel services available 24 hours a day to the owner or occupier
• Providing distinguished stay places for low costs, compared to the prices of the same class hotels in Mecca, especially in the peak seasons
• Protecting the owners from future price increases in the rental market thanks to the fixed price of the deeds throughout the usufruct period (25 years), and giving the advantage of high rental returns to the owner throughout the 25 years lease
• The possibility to generate investment returns for the deed holder by allowing him or her to rent out the unit to others during the period assigned to him, in case he or she does not want to use it in any certain year, in addition to the possibility to re-sell the deed with profits
• Facilitating the visa formalities for Muslims who hold the deeds
• Saving money for the deed holder as he or she will only bear operating expenses for the period assigned to him
• Saving the size of capital required to own housing units in Mecca though allowing the deed holder full benefit from the property during the required period.

    About The Towers - A section covering the finer details of Le Meridien Towers.
    Facilities & Location - A list of the facilities and the location of Le Meridien Towers.
    Project FAQ - Some Frequently Asked Questions about Le Meridien Towers