Al Habtoor Group announces acquisitions in Hungary
The group already owns two luxury hotels in the capital, Budapest, namely The Ritz-Carlton, Budapest, and The InterContinental Budapest
UAE-based business conglomerate Al Habtoor Group has confirmed the acquisition of several key properties in Hungary.
The group already owns two luxury hotels in the capital, Budapest, namely The Ritz-Carlton, Budapest, and The InterContinental Budapest.
The latest additions to the group’s property portfolio in the country include Rumbach Centre, an office building located in the historic part of Budapest’s financial, commercial and administrative centre near Deák Square.
The group also purchased an office complex in Dorottya Udvar, Budapest. The restored, early 20th century-style former textile mill has been redeveloped into a spacious and flexible office complex with an international tenant lineup.
Khalaf Ahmad Al Habtoor, chairman, Al Habtoor Group said: “I am delighted to announce our latest acquisitions in Europe. Hungary has a vibrant economy with a rapidly growing office market. I am happy to build on our other successful ventures in the country.”
He added: “We have invested heavily in the UAE in recent years, and are always looking for good investments abroad. Over the past few years, we have announced major acquisitions in Hungary, Austria, London and the United States.”
In 2016, the Al Habtoor Group expanded its international hospitality portfolio with the acquisition of the Hilton London Wembley – near the Wembley Stadium. It also added the historic Hotel Imperial, a Luxury Collection Hotel, Vienna, and in May, the Group celebrated the opening of the first The Ritz-Carlton hotel in the Central and Eastern European region – in Budapest. It also owns The InterContinental Budapest, located in one of the most prestigious areas of Hungary’s capital – beside the landmark Chain Bridge.