CMS advises Aldar Properties on sale of Abu Dhabi Golf Complex

International law firm CMS has advised Aldar Properties PJSC on the sale of The Westin Abu Dhabi Golf Resort and Spa, including the Westin Hotel and the Abu Dhabi Golf Club, to a private investor for AED 180 million.

Built in 2011, The Westin Abu Dhabi Golf Resort and Spa is a five-star hotel operated by Marriot International under a management agreement. The Abu Dhabi Golf Club features an 18-hole championship course and 9-hole garden course and has been home to the European Tour Abu Dhabi HSBC Championship since 2006. The development also includes land for residential development. 

The development was acquired by Aldar as part of a wider transaction with Abu Dhabi’s Tourism Development Investment Company in 2018. The sale is in line with Aldar’s asset management strategy to actively pursue profitable investment exits and redeploy capital into growth opportunities. 

Geoff Smith, CMS Real Estate partner, comments: “We are pleased to have advised Aldar on this strategic transaction. Given the challenges facing the hospitality and tourism industry as a result of the coronavirus pandemic, we are delighted to have supported our client on achieving this successful result. With one of the largest specialist real estate teams worldwide, CMS is well-positioned to help our clients navigate all aspects of the real estate market.” 

The CMS team in Dubai was led by partner Geoff Smith and supported by senior associate Ashleigh Bruce (Corporate) and associates Laura Whiteley and Mai Marshad (both Real Estate).