While Waldorf Astoria is represented in other emirates, including Dubai and Ras Al Khaimah, this will be the first one in Abu Dhabi.

The project is part of Club Med's wider global strategy to shift towards more luxurious accommodation experiences.

The hotel will continue to operate under the Hyatt franchise and be managed by a Yiannis and Tina Daskalantonakis' interests firm.

Over the past 12 months alone, prices have increased by 27.8%

They will operate as hotels, enhancing the tourism hospitality infrastructure.

The project was implimented through financing secured from the former Bank of Pancreta

The sale price is €6.5 mil. while the fair value of this property as at 30.06.2023 was €4.1 mil.