Main Photo: The St Regis Saadiyat Island
Date: May 2021
Location: Saadiyat Island, Abu Dhabi, UAE
No. of Keys: TBA
Seller: Abu Dhabi-based Murban has AED1.7 billion in equity, own the St Regis Saadiyat Island, the Al Wathba Luxury Collection Desert Resorts and the Le Noir Café brand.
Buyer: Alpha Dhabi Holdings, a top construction company in the emirate, that used to be called Trojan Holding, has acquired Murban.
Chairman of Alpha Dhabi Holding, Mohamed Thani Murshed Al Rumaithi, said: “We are excited by the opportunity to accelerate our global exposure with our investment in Murban, which has a highly complementary business and asset portfolio.”
Alpha Dhabi Holdings recently rebranded itself, formerly being known as Trojan Holding. The company is now looking more towards investment rather than construction, having already snapped up and gained stakes in other companies in the area.
Trojan Holding has previously worked on projects with Emaar, Nakheel and other developers on a range of hospitality products.
“Murban is a dynamic platform on which to build our private and public equity exposure on the international markets. In addition, Murban has an excellent portfolio of hospitality developments and we are thrilled to be working together to gain access to new markets,” Al Rumaithi added.
Hamad Al Ameri, managing director, of Alpha Dhabi Holding, said: “This transaction places us in a unique position to cease new opportunities across different markets through Murban’s rich asset portfolio, as we pursue further growth.”
THPT Comment: Constructor turns to be hotelier….seen that happen before…well done!
First Seen: Hotelier Middle East
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