Al Habtoor acquires 2 properties in Hungary

Al Habtoor Group, the Dubai-based conglomerate, announced it has acquired two properties in Hungary on Sunday including an office building and an office complex. The latest additions to the Group’s portfolio are Rumbach Centre, an office building in Budapest’s commercial centre; and an office complex in Dorottya Udvar, Budapest.

The acquisitions mark the group’s growth in Hungary where it already owns two luxury hotels; The Ritz-Carlton Budapest, and the InterContinental Budapest.

“Hungary has a vibrant economy with a rapidly growing office market. I am happy to build on our other successful ventures in the country. We have invested heavily in the United Arab Emirates 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,” said Khalaf Ahmad Al Habtoor, Chairman of Al Habtoor Group.

The announcement on Monday comes after other major deals by the group throughout the year including the acquisition of the Hilton London Wembley near the Wembley Stadium, and the Hotel Imperial in Vienna.

Other properties acquired by the group outside the UAE include the President Abraham Lincoln, Springfield, a DoubleTree by Hilton Hotel in Illinois; and two hotels in Lebanon – The Hilton Beirut Habtoor Grand and the Hilton Beirut Metropolitan Palace.

Source: Staff Report,


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