Sign inSubscribe

Search Site

VideosInforgraphics
Sign inSubscribe
Trends banner

Company News, Business

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Equinor signs $27 bn gas deal

The 10-year contract was signed with Centrica.

ADNOC Drilling secures $1.15bn contract

The contract for two jack-up rigs begins in the second quarter.

Etihad Q1 profit $187 million

This is a 30% YoY increase over Q1 2025.

Yalla Group Q1 revenue $83m

Net income rose to $36.4 million, a 17% YoY increase.

ADIA acquires hotel portfolio

The portfolio comprises 27 hotels. (Pic for representational purposes only)
By Hilal Mir
July 19, 2023 5:01 pm
  • The portfolio was acquired from Daiwa House Industry for $900 million and comprises a total of 7,124 hotel rooms.
  • The acquisition was made along with a consortium led by Singapore-based private equity real estate firm, SC Capital Partners and Goldman Sachs Asset Management.

Dubai, UAE — Abu Dhabi Investment Authority (ADIA), the sovereign wealth fund of the United Arab Emirates, has acquired a portfolio of 27 hotels in Japan from Daiwa House Industry for $900 million.

The portfolio consists of a total of 7,124 rooms, is spread across Japan in major tourist destinations.

The acquisition was made along with a consortium led by Singapore-based private equity real estate firm, SC Capital Partners (SCCP) and Goldman Sachs Asset Management.

SC Capital Partners is a leading private equity real estate firm with a focus on Asia. The firm has a track record of investing in and managing high-quality real estate assets across the region.

Japan Hotel REIT Advisors Company (JHRA), in which the SCCP Group has majority share, will manage the portfolio.

[adinserter block="5"]

Most Read

UAE’s working mothers get extended maternity leave

The Gulf country is setting a new benchmark for supporting working mothers by doubling the mandated maternity leave to 120 days, Kathryn Martin VFS Global tell TRENDS.

Getting vaccinated is ‘the most patriotic thing’ to do

The Fourth of July is a sacred day in our country. A day of history, of hope, remembrance and resolve with promise and possibilities. Before me stands monuments of the…

Saudi Arabia to generate $150 billion in investments from its new transport policy

The government would provide thirty-five percent of the investments The rest of it, sixty-five percent, will come from the private sector Saudi Arabia expects to generate $150 billion from investments…

GCC healthcare: Transforming the region and impacting the world

PwC forecasts that AI could contribute US$320 billion to Middle Eastern economies by 2030, with healthcare predicted to see some of the largest gains relative to its current size

New-Age Growth Comes Home to the GCC

The region, fueled by ambition and massive investment, is rapidly advancing in technology and infrastructure, aiming to secure a leading role in the 4IR.

[adinserter block="4"]