Abu Dhabi-based Eshraq Investments sold its Dubai Marina property Nuran Marina Hotel, for 133 million dirhams ($36.2 million)
The company said in a statement that the sale price marked a 45% increase over book value.
Eshraq had acquired the property from Dubai-based real estate company Emaar in 2012, according to reports.
Eshraq said in its second quarter profit statements last month that Nuran Marina had achieved 94% occupancy in the year to date.
(Writing by Brinda Darasha; editing by Seban Scaria)