Kuwait’s IFA to acquire 10.5 per cent of Dubai’s Palm Jumeirah Yotel

Kuwait-based investor International Financial Advisors Holding (IFA) will invest AED 37.69 million ($10.26 million) in a branch of smart hotel brand Yotel in Dubai’s Palm Jumeirah, Zawya reports.

The investment will provide IFA, 10.5 per cent of the hotel brand. Yotel is a UK-based smart hotel brand, which currently has 20 listed properties in the UK, Europe, Singapore and the USA.

Palm Jumeriah property, a four-star hotel, is under construction. The Kuwait-based firm has also invested AED 20.58 million in Palm Jumeriah-based Strive Services Group, a facilities management and security services firm, Zawya notes.

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