BLP advises Aldar Properties on Abu Dhabi hotel development deal with InterContinental Hotels Group
Berwin Leighton Paisner LLP (BLP) recently advised Aldar Properties PJSC (Aldar), one of the biggest developers in the Middle East, on a deal with InterContinental Hotels Group (IHG) for the development of a 430-room Crowne Plaza hotel and a 165-suite Staybridge Suites property in Abu Dhabi.
BLP has been appointed as exclusive advisers to Aldar on its hotel projects. Aldar is the Abu Dhabi Securities Market listed entity responsible for undertaking much of the development of Abu Dhabi’s ambitious hotels and leisure infrastructure, including the new Formula 1 track and theme park, which involves investments totalling US$80bn in aggregate. BLP will be advising Aldar on negotiations with all the world’s leading brands. So far operators including InterContinental, Accor, Oberoi and Mövenpick have been successfully signed up for 11 new hotel projects, with up to thirty more projects to be completed.
John Sipling, a partner in the firm’s hotels group, advised Aldar on the deal. He was assisted by senior associate Elaine Johnson and associate Nick Skea-Strachan.
Commenting on the deal, John said: “BLP are delighted to have advised Aldar on this strategically important agreement with IHG. It is enormously satisfying to work so closely with clients of the calibre of Aldar and to help them achieve their vision of transforming Abu Dhabi into one of the most successful leisure and business destinations in the world.”
If you would like further information, please contact John Sipling at email@example.com