Abu Dhabi witnesses its second mega real estate deal of the year – again involving Alpha Dhabi Holding, part of the International Holding Co.’s portfolio.
Alpha Dhabi Holding has acquired the privately-owned investment company Murban, with about Dh1.7 billion in equity. Its investments include St. Regis at the Saadiyat Island, the Al Wathba Luxury Collection desert resorts, and the Le Noir Café brand.
“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,” said Mohamed Thani Murshed Al Rumaithi, Chairman of Alpha Dhabi Holding.
“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.”
In March, Alpha Dhabi paid Mubadala Dh3.5 billion to purchase a 12.21% stake in Aldar Properties, Abu Dhabi’s biggest developer. Market sources informed that a big change is going on inside Abu Dhabi’s real estate and investment spaces, and which is what Alpha Dhabi wants to take advantage of.
In March, Murban signed an agreement to construct a luxury resort in Aceh province, Indonesia. Alpha Dhabi itself has a “strong hospitality development division”, having built hotels in the UAE, Morocco, Russia, and the UK. “The Murban acquisition will help accelerate Alpha Dhabi’s diversification strategy as it looks to expand its portfolio,” a statement said.
“The transaction places us in a unique position to seize new opportunities across different markets through Murban’s rich asset portfolio,” said Hamad Al Ameri, Managing Director of Alpha Dhabi Holding. “We are working closely with IHC and are actively building a diversified portfolio in line with our strategic ambitions and future goals. We look forward to capitalizing on our shared aspirations and synergies with Murban.”