Alpha Dhabi Holding, a subsidiary of Abu Dhabi's International Holding Company (IHC), acquired two more assets from hospitality investment firm Murban, which brought the combined value of its asset purchases to Dh2.5 billion ($681.2 million).
In the latest round of purchases, Alpha Dhabi Holding acquired Cheval Blanc Randheli resort in the Maldives and Etihad International Hospitality, a facility management company, from Murban, it said in a statement on Thursday.
The deal follows the holding company’s Dh1.7bn transaction in May through which Alpha Dhabi Holding assumed ownership of Murban's assets including St Regis at Saadiyat, Al Wathba Luxury Collection Desert Resorts and the Le Noir Café brand.
Opened in 2013, Cheval Blanc Randheli was Louis Vuitton Moët Hennessy’s second hotel venture after LVMH established the first property, Cheval Blanc Courchevel, in France.
“This latest acquisition further expands Alpha Dhabi’s strong hospitality development division,” Hamad Al Ameri, managing director of Alpha Dhabi Holding, said.
“By adding Emirates International Hospitality … we are also becoming more vertically integrated and creating growth opportunities by leveraging our position as part of the wider group of IHC companies.”
The latest deal with Murban, which has an agreement in place to build another luxury resort in the Aceh province in Indonesia, will help Alpha Dhabi expand its portfolio of investments in the UAE and beyond.
Alpha Dhabi Holding, which was previously known as Trojan Holding, is a construction-focused group with more than 40,000 employees. It has built a range of projects, including mixed-use and high-rise properties, mass housing and infrastructure across the UAE. The group's hospitality development division has built hotels in the UAE, Morocco, Russia and the UK.
Alpha Dhabi became a subsidiary of Abu Dhabi-listed IHC after it bought a 45 per cent stake in the group in March for an undisclosed sum.
IHC has been on an acquisition spree over the past 18 months at home and abroad. In May, the company’s subsidiary, Multiply Marketing Consultancy, acquired a minority stake in rideshare and taxi ad start-up Firefly for an undisclosed amount.
IHC has also bought a stake in California-based aerospace company SpaceX through a private equity fund and has invested in UK-based DNA sequencing company Oxford Nanopore technologies.
The holding company also has investments in Quantlase Imaging Lab, the company behind the rapid Covid-19 screening system operated on the border between Abu Dhabi and Dubai at Ghantoot and Tamouh Healthcare.
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
AI traffic lights to ease congestion at seven points to Sheikh Zayed bin Sultan Street
The seven points are:
Shakhbout bin Sultan Street
Dhafeer Street
Hadbat Al Ghubainah Street (outbound)
Salama bint Butti Street
Al Dhafra Street
Rabdan Street
Umm Yifina Street exit (inbound)
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Financial considerations before buying a property
Buyers should try to pay as much in cash as possible for a property, limiting the mortgage value to as little as they can afford. This means they not only pay less in interest but their monthly costs are also reduced. Ideally, the monthly mortgage payment should not exceed 20 per cent of the purchaser’s total household income, says Carol Glynn, founder of Conscious Finance Coaching.
“If it’s a rental property, plan for the property to have periods when it does not have a tenant. Ensure you have enough cash set aside to pay the mortgage and other costs during these periods, ideally at least six months,” she says.
Also, shop around for the best mortgage interest rate. Understand the terms and conditions, especially what happens after any introductory periods, Ms Glynn adds.
Using a good mortgage broker is worth the investment to obtain the best rate available for a buyer’s needs and circumstances. A good mortgage broker will help the buyer understand the terms and conditions of the mortgage and make the purchasing process efficient and easier.
Pearls on a Branch: Oral Tales
Najlaa Khoury, Archipelago Books
Traits of Chinese zodiac animals
Tiger:independent, successful, volatile
Rat:witty, creative, charming
Ox:diligent, perseverent, conservative
Rabbit:gracious, considerate, sensitive
Dragon:prosperous, brave, rash
Snake:calm, thoughtful, stubborn
Horse:faithful, energetic, carefree
Sheep:easy-going, peacemaker, curious
Monkey:family-orientated, clever, playful
Rooster:honest, confident, pompous
Dog:loyal, kind, perfectionist
Boar:loving, tolerant, indulgent
if you go
The flights
Emirates flies to Delhi with fares starting from around Dh760 return, while Etihad fares cost about Dh783 return. From Delhi, there are connecting flights to Lucknow.
Where to stay
It is advisable to stay in Lucknow and make a day trip to Kannauj. A stay at the Lebua Lucknow hotel, a traditional Lucknowi mansion, is recommended. Prices start from Dh300 per night (excluding taxes).
The specs: 2018 Nissan 370Z Nismo
The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
Fuel consumption, combined: 10.5L / 100km
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
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The specs: Rolls-Royce Cullinan
Price, base: Dh1 million (estimate)
Engine: 6.75-litre twin-turbo V12
Transmission: Eight-speed automatic
Power: 563hp @ 5,000rpm
Torque: 850Nm @ 1,600rpm
Fuel economy, combined: 15L / 100km
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