Alabbar also owns Emaar Properties which acquited Grand Hotel Imperiale di Forte dei Marmi in October 2024
Mohamed Alabbar acquired Ritz-Carlton di Vienna, a five-stars hotel with 200 rooms, from Kazakistan’s private equity Verny Capital.The hotel is in Vienna center (Ringstrasse) and has two restaurants, two bars and nine areas for events.
Bau Austria Immobilien (BAI) built the hotel with the brand of Shangri-La and sold it in 2021 to Verny Capital which appointed Marriott International for managing it under the name Ritz-Carlton.
In the last thirty years, Alabbar developed several iconic projects such as Duba’s Burj Khalifa, the world’s tallest building with 205 storeys; Downtown Dubai, with over 1800 shops and 35000 homes; Dubai Mall, and more than 70 hotel and resort chains (St Regis, Mandarin Oriental, Fairmont, Address Hotels, The Bristol, Bluesun, Palace Hotels, Locanda, Armani, W Hotel, VIDA Hotels, ROVE, and Emaar Leisure Group).
In October 2024, Alabbar acquired Italy’s Grand Hotel Imperiale di Forte dei Marmi throuhg Emaar Properties for 40 million euros (see here a previous post by BeBeez).
