Dubai, UAE – In a landmark real estate transaction, Select Group has acquired the Radisson Blu Hotel in Dubai Media City for a reported value exceeding Dh200 million. The deal marks the second high-profile hotel sale in the area, following Bank Muscat’s recent divestment of a Movenpick hotel to Arenco Group.
Strategic Acquisition in a Prime Location
Radisson Blu has long been a key hospitality landmark in Dubai Media City, benefitting from its proximity to major corporate headquarters, including META, Pfizer, Samsung, and Mastercard. The acquisition adds to Select Group’s growing portfolio, which includes a number of high-profile properties in Dubai Marina. Notably, the developer recently acquired the stalled Pentominium high-rise project in Dubai Marina through an auction.
Planned Refurbishments and Expansion
Select Group has announced plans for a comprehensive refurbishment of Radisson Blu, with a particular emphasis on expanding its food and beverage (F&B) offerings. The revamp aims to address a gap in the area’s hospitality landscape and enhance guest experiences.
“We are excited to announce the acquisition of the Radisson Blu Hotel, Dubai Media City, marking a pivotal milestone in our ongoing commitment to securing prime assets in strategic locations,” said Rahail Aslam, Chairman of Select Group. “Our upgrades aim to create dynamic offerings that meet evolving demands.”
Dubai’s Hotel Sector on a Growth Trajectory
Dubai’s hospitality industry has recorded strong performance metrics, with continued growth in average room rates and occupancy levels. Industry analysts expect this momentum to carry forward into 2025, driven by new hospitality projects and increased investor confidence.
The Radisson Blu deal represents the highest recorded hotel sale transaction in Dubai Media City, underlining the appeal of strategically located assets in the city’s real estate market.
“As the highest recorded hotel sale transaction in the Media Free Zone, it demonstrates the value of strategically located assets in Dubai’s thriving market,” said Andrew Love, Regional Partner and Head of Capital Markets at Knight Frank MENA.
Knight Frank, which facilitated the transaction, noted that this marks its ninth hotel deal in Dubai within the last 18 months—a period during which 12 hotel properties changed ownership in the city.
Transaction Details
The Radisson Blu acquisition was completed through Select M City Ltd., a subsidiary of Select Investments Limited. The deal was supported by legal advisors Baker McKenzie and Wisefields.
With this latest acquisition, Select Group continues to strengthen its foothold in Dubai’s hospitality and real estate sectors, further cementing its reputation as a leading private developer in the region.
