UAE’s ICD signs transactions for US, South African hotels

09 Apr 2015

(MENAFN) The Investment Corporation of Dubai (ICD), the sovereign wealth fund owned by the government of Dubai, disclosed the signing of three new purchases in the international hospitality sector, Arabian Business reported.

Specifically, the company that supervises the government’s investment portfolio while adding value to it announced acquiring W Hotel in Washington DC and the One & Only in Cape Town, South Africa.

“The strategic transactions demonstrate the commitment of ICD, the principal investment arm of the Government of Dubai, to continuously expand the reach of Dubai in [the] sector,” the company said in a statement.

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