UAE-based AHS Properties has announced that it has entered into a deal with Mismak Asset Management to acquire the 43-floor Shangri-La Hotel in Dubai for AED1.1 billion ($300 million) in one of the largest single-asset real estate transactions recorded in recent history. The 200-m property is located on Sheikh Zayed Road.
Youngest Arab billionaire Abbas Sajwani's AHS Properties aims to scale its project pipeline to AED50 billion ($13.61 billion) in value by year-end.
AHS Properties has announced that its flagship commercial project, AHS Tower, in Dubai has been fully sold out, generating more than $700 million in revenue. Designed by renowned architecture firm Killa Design, the 69-storey tower will come up on Sheikh Zayed Road.
