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FINANCIAL NEWS
ICD acquires Dubai World’s Atlantis hotel
05 Dec 2013
(MENAFN) Investment Corp of Dubai (ICD) has announced its acquisition of the Atlantis hotel, previously owned by Dubai World, Arabian Business reported.
Deputy chief executive officer of ICD said: “Our acquisition of an asset that is a major contributor to the domestic tourist industry is in line with our overall strategy to support long-term sustainable growth for Dubai.”
This sale comes as part of Dubai World’s series of asset sales to repay its debts following the USD25 billion restructuring two years ago.
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