The futuristic city of Dubai continues to expand its influence and presence beyond its borders. This time, it’s not about cuisine or agriculture, but real estate investment. Global investment company Dubai Holding has acquired the Westin Paris Vendôme on February 27th. The Westin Paris Vendôme was sought after by numerous investment firms due to its many advantages.
Westin Paris Vendôme: A Crucial Acquisition
It’s worth noting that the Emirati investment company already owned part of the Westin Paris Vendôme. Dubai Holding acquired the Parisian establishment in 2018 through a joint venture with Henderson Park, another world-class real estate investment firm.
Recently, Dubai Holding bought out Henderson Park’s share.
We are pleased to announce that we have taken full ownership of #TheWestinParis – #Vendome after acquiring Henderson Park’s stake in this iconic property.— Dubai Holding (@dubaiholding) February 27, 2023
#DubaiHolding #ThisIsDubaiHolding #Portfolio https://t.co/Y2JxRjHsZv
"We are pleased to announce that we have fully taken ownership of the Westin Paris Vendôme by buying out Henderson Park's share in this iconic establishment."
This acquisition marks a key milestone for Dubai Holding, strengthening its already impressive portfolio of globally significant locations in the world’s most popular destinations.
The company aims to assert its presence in the most coveted locations worldwide, such as North America, the Middle East, Europe, and Asia.
With a presence in 13 countries, the investment company bolsters its significance in the real estate sector by owning all shares of this historic luxury establishment.
Westin Paris Vendôme: One of the Most Prestigious Hotels
Dubai Holding has secured a highly valuable acquisition, not only financially but also in terms of heritage.
Located at 3 Rue Castiglione, the hotel is an unmissable property built in 1878 in Paris’s 1st arrondissement. This monument of French architecture spans 32,000 square meters and houses over 400 rooms, offering views of the Tuileries Garden, the Eiffel Tower, and the Seine. The dome of Les Invalides can also be seen.
The hotel is also close to Place de la Concorde, the Louvre, and the Champs-Élysées Avenue. It boasts an ideal location for all types of tourists and business travelers.
Dubai Holding will let the Westin Paris Vendôme continue to operate as it has been. However, the group has hinted at implementing ambitious plans – could Dubai’s extravagance be exported to France?
Only time will tell, as Dubai Holding will embark on this endeavor after the completion of the Paris Olympic Games in 2024.