Saud Arabia’s Public Investment Fund (PIF) and London-based real estate investment firm Cain International said on Monday they had invested $900m in luxury hotel group Aman, which Cain said valued Aman at $3bn.
The PIF and Cain said, in separate announcements, the investment would support Aman Group’s “global expansion of ultra-luxury hotels and branded residences.” Cain said the funds would also be used to enhance existing properties and support the acquisition and development of new locations.
Aman Group has 34 hotels in 20 countries, including 12 branded residences, and another nine properties under development, including in Saudi Arabia and the United States, Cain said.
Read more: Reuters
