Alpha Dhabi adds Cheval Blanc Randheli Maldives and Etihad International Hospitality to AED 2.5 billion deal
Abu Dhabi, United Arab Emirates: IHC’s subsidiary, Alpha Dhabi Holding, a fast-growing United Arab Emirates-based holding company, has acquired other assets from private company Murban, including the highly prized Cheval Blanc Randheli complex in Maldives and Etihad International Hospitality, a management company establishment.
This brings the value of assets acquired by Alpha Dhabi in Murban to AED 2.5 billion, following a previously announced AED 1.7 billion transaction that saw Alpha Dhabi take ownership of assets including St Regis in Saadiyat, Al Wathba Luxury Collection Desert Resorts and Le Noir Café. Mark.
Hamad Al Ameri, Managing Director of Alpha Dhabi Holding, said: “This latest acquisition further expands Alpha Dhabi’s strong hotel development division. By adding Emirates International Hospitality, a pioneering facilities management company with a large premium customer base, we are also becoming more vertically integrated and creating growth opportunities by leveraging our position within the larger group of IHC companies. “
Opened in 2013, Cheval Blanc Randheli was Louis Vuitton Moët Hennessy’s second hotel company after having created the famous Cheval Blanc Courchevel in France. While an alpine retreat is the antithesis of an island in the Maldives, LVMH has succeeded in creating a distinctive tropical property that blends seamlessly into its exotic surroundings. This is the latest in a series of mega-deals that have seen Alpha Dhabi become one of the most powerful players in the UAE market.
Alpha Dhabi, which employs more than 40,000 people, is involved in the development of a wide range of projects, including mixed-use and high-rise buildings, mass housing and infrastructure.
Alpha Dhabi Holding
Founded in 2008, Alpha Dhabi Holding (formerly Trojan Holding) is one of the fastest growing construction company groups in the Middle East. Its development and construction projects span a variety of mixed-use high-rise, mass housing, healthcare, and infrastructure and transportation projects including Waters Edge, Palm Tower, Deira Waterfront, Nation Towers, the Jabal Hafeet and Etihad Railway mass housing project. With over 40,000 employees, the company is focused on the interests and real estate assets that support the nation’s infrastructure. Recently, she has embarked on building a diverse portfolio that manages, deploys and organizes a variety of entities in the construction, hospitality, industrial and capital verticals.
International holding company
IHC was founded in 1998, as part of an initiative to diversify and develop the non-oil business sectors in the United Arab Emirates. Adhering to the ‘Abu Dhabi Vision 2030’, listed company ADX strives to implement initiatives for sustainability, innovation and economic diversification in what is today one of the largest conglomerates in the region.
IHC has a clear objective of improving its portfolio through acquisitions, strategic investments and business combinations. Comprised of more than 30 entities, IHC seeks to expand and diversify its holdings in a growing number of sectors, including real estate, agriculture, healthcare, food and beverage, utilities, industries, l IT and communications, retail and leisure and capital.
With a core strategy to improve shareholder value and achieve growth, IHC drives operational synergies and maximizes profitability across all verticals. As the world changes and new opportunities arise, IHC remains focused on resilience, innovation and redefining the market for itself, its customers and partners.
Corporate Communication and Media Manager
© Press release 2021