Abu Dhabi: Mismak Properties, has signed a new operating agreement with Shangri-La Group for the management of Shangri-La Hotel, Dubai.
Mismak Properties added the 42-storey tower on Sheikh Zayed Road to its property portfolio earlier in 2020, with the Hong Kong-based Shangri-La Group continuing to operate the hotel.
Jasim Al Ali, CEO of Mismak Properties said: "We are very excited to have signed an agreement with Shangri-La Group, Shangri-La Hotel, Dubai is a landmark property located at the heart of the dynamic city. The acquisition of the hotel tower earlier this year presents Mismak Properties with an unprecedented opportunity to add significant value to our portfolio of hospitality assets. Shangri-La Hotel, Dubai is an iconic part of the UAE's hospitality landscape, and we are delighted to add the property to our portfolio."
Oliver Bonke, regional chief executive officer - Middle East, Europe, India and the Americas-Shangri-La Group said: "We are honoured to continue to create moments of joy for our guests in Dubai, with Shangri-La Group's heartfelt hospitality. Shangri-La Hotel, Dubai has been operating successfully for 16 years in a highly competitive environment and continues to achieve results that support our positioning as market leaders."
Shangri-La Hotel, Dubai features 490 luxurious rooms, suites, serviced apartments and residences, as well as award-winning restaurants and bars, event spaces and CHI, The Spa. The hotel is part of Shangri-La Group's collection of more than 100 international locations.
About Mismak Properties:
Mismak Properties is a Sole Proprietorship limited liability company, which is a wholly owned subsidiary of FAB, acts as a holding company for the Group's real estate investment and development activities, was established in the Year 2006. At MISMAK Properties, we work with world leading consultants from design to construction, to create ground-breaking developments with unique architectural designs that offer exterior beauty and efficient interior spaces. For more information, please visit www.mismak.ae
About Shangri-La Group:
Shangri-La Group is one of the world’s premier developers, owners and operators of hotel and investment properties which comprises office buildings, commercial real estate and serviced apartments/residences. The Group’s other principal activities include hotel management services as well as property development for sale. It currently owns and/or manages over 100 hotels globally in more than 75 destinations under the Shangri-La, Kerry, JEN and Traders brands. Prominently positioned in Asia, the Group has a substantial pipeline of upcoming hotel and mixed- use development projects in Australia, Bahrain, Mainland China, Cambodia, Indonesia and Saudi Arabia. For more information, please visit https://www.shangri-la.com/group
© Press Release 2020