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Saturday, December 28, 2024

Home Business Emaar closes $204m deal to sell hotel

Emaar closes $204m deal to sell hotel

by News desk
January 7, 2021
in Business

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Dubai

Decision to sell the hotel in line with Emaar strategy to dispose of light assets in the hospitality sector
Emirati Emaar Properties announced the sale of its subsidiary ASV, the owner of the Sky View Hotel, to Evergreen Hospitality Ltd. for AED 750 million ($204 million).
In a disclosure to the Dubai Financial Market, Emaar said that the decision to sell the hotel, which consists of 160 rooms.—AN