Dentons has advised on the sale of the landmark Movenpick Hotel at Dubai’s Jumeirah Beach Residence to BM GCC Property Income Fund.
Commenting on the transaction Dentons’ corporate partner Iain Black said: “We are delighted to have advised the owners on this important transaction which is one of the few luxury hotel sales in the UAE in recent years and reflects the growing momentum in the GCC hotel sector in the run up to Expo 2020 and Qatar 2022.”
Dentons has extensive experience in the hotels and leisure sector across the Middle East, having advised on hotel projects such as Etihad Towers, Atlantis the Palm, Barr Al Jissah Resort & Spa and the W Hotel Palm Jumeirah. Globally the team most recently advised leading private equity group Avestus Capital Partners on the sale of the Four Seasons Hotel in Prague to Northwood Investors.
The Dentons team was led by partner Iain Black, assisted by partner Joby Beretta and associates Patrick Tweedale, Joe Carroll and Anna Terrizzi.