UAE’s leading investment firm and a subsidiary of IHC, Alpha Dhabi Holding has purchased more assets from privately owned company Murban, including the renowned Cheval Blanc Randheli resort in the Maldives and facility management firm Etihad International Hospitality.
This brings the value of assets acquired by Alpha Dhabi from Murban to $680 million (AED2.5 billion), following a previously announced $462 million (AED1.7 billion) transaction, which saw Alpha Dhabi assume ownership of assets including St Regis at Saadiyat, Al Wathba Luxury Collection Desert Resorts and the Le Noir Café brand.
“This latest acquisition further expands Alpha Dhabi’s strong hospitality development division. By adding Emirates International Hospitality, a pioneer facility management company with a broad base of premium clients, we are also becoming more vertically integrated and creating growth opportunities by leveraging our position as part of the wider group of IHC companies.”
Cheval Blanc Randheli, which debuted in 2013, was Louis Vuitton Moët Hennessy’s second hotel venture after opening the legendary Cheval Blanc Courchevel in France. While an alpine retreat is the antithesis of a Maldivian island, LVMH has succeeded in developing a distinctive tropical property that blends in seamlessly with its unique surroundings. This is the latest in a long line of mega-deals that have propelled Alpha Dhabi to the forefront of the UAE market.
Alpha Dhabi Holding
Established in 2008, Alpha Dhabi Holding (formerly Trojan Holding) is one of the fastest-growing construction group of companies in the Middle East. The company is involved in the development of a wide range of projects, including mixed-use and high-rise property, mass housing, and infrastructure, and employs approximately 40,000 people.