Luxury developer AHS Properties, founded by Abbas Sajwani, has acquired the Shangri-La Dubai hotel on Sheikh Zayed Road for AED 1.1 billion, marking one of the largest single-asset hospitality transactions in the emirate in recent years.
Completed in 2003, the mixed-use tower is one of Sheikh Zayed Road's most established landmarks, offering direct views of the Burj Khalifa and the Arabian Gulf.
The acquisition consolidates AHS Properties' growing presence on the corridor, where the company already holds AHS Tower and is advancing AHS City, a major mixed-use development described as the firm's largest to date.
Shangri-La Group confirmed the hotel will continue operating under its brand with no disruption to guests, colleagues, or partners. Founded in 2021, AHS Properties has built a portfolio spanning Palm Jumeirah, Emirates Hills, and other prime Dubai locations, positioning itself as a significant player in the emirate's ultra-luxury real estate segment.
Gulf Economist Staff Writer