Saudi Arabia’s sovereign wealth fund, Public Investment Fund (PIF) and London-based Cain, a privately held investment firm, has invested $900 million in Swiss hospitality company, Aman Group.
The investment is expected to support Aman Group’s global expansion of luxury hotels and branded residences, and drive the construction pipeline of new Aman and Janu-branded properties. It will also support the acquisition and development of additional sites, the companies said in a statement.
Turqi Alnowaiser Deputy Governor PIF
“Our investment in Aman Group reflects PIF’s belief in the current potential of the hospitality and tourism industry, both internationally and in Saudi Arabia. The investment is in line with #PIF’s strategy to invest in promising sectors to achieve sustainable, attractive returns in Saudi Arabia and globally.”
“As the hospitality landscape continues to evolve, we expect to see a growing desire for travelers and investors alike to prioritize experiences supported by preeminent brands like Aman,” Cain’s Chief Executive Officer Mr. Jonathan Goldstein said.
Aman Group has 34 hotels in 20 countries, including 12 branded residences, and another nine properties under development, including in the United States, Japan, Mexico, South Korea, Saudi Arabia, and across Europe. Earlier this month, Aman opened its New York hotel and private residences, located on the upper floors of Manhattan’s iconic Crown Building.
The company is also in partnership with OKO Group, an international real estate development firm, on multiple projects in South Florida including two luxury condominium towers in Miami and 830 Brickell, a 725- foot Class-A office tower in the city’s emerging financial district.
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