Dubai’s AHS Properties has further strengthened its property portfolio with its acquisition of the Shangri-La Hotel Dubai for AED 1.1bn.
Acquired from Mismak Asset Management, the deal is one of the largest single-asset real estate transactions recorded in the city in recent history.
The acquisition adds an iconic anchor asset to AHS Properties’ existing portfolio, which includes AHS Tower, a recently sold-out Grade-A commercial development on Sheikh Zayed Road and AHS City, the developer’s flagship master-planned, mixed-use community on the corridor with a forecast gross development value of AED25bn. Together, these three assets represent a significant share of AHS Properties’ AED50bn year-end 2026 pipeline.
“Beyond being an iconic building, this purchase gives us a position on the corridor where supply is structurally constrained and demand is globally diversified. This is more than an acquisition for AHS Properties. It’s a statement of our long-term confidence in Dubai, in the strength of its real estate sector and in its continued appeal to global capital,” said Abbas Sajwani, Founder and CEO of AHS Properties.
Positioned on Dubai’s Sheikh Zayed Road corridor, the Shangri-La Hotel is a 43-floor, 200m tower and one of the first five-star hotels to open on central highway when it was completed in 2003. Set amongst some of the city’s most iconic and prestigious monuments, including The Burj Khalifa, Dubai Mall, Dubai International Financial Centre and the Museum of the Future, it is a key feature of a densely populated part of the city.
The acquisition has no impact on the hotel’s day-to-day operations and guests can continue to enjoy the exceptional service and hospitality they have come to expect. The property remains an important part of AHS Properties’ broader Sheikh Zayed Road portfolio.
