Shangri-La Hotel in Dubai Sold for AED 1.1 Billion
AHS Properties has acquired the Shangri-La Hotel, a 43-floor, 200-metre tower on Sheikh Zayed Road, for AED 1.1 billion from Mismak Asset Management. The transaction is one of the largest single-asset real estate deals recorded in recent history.
The Shangri-La Hotel, completed in 2003, was among the first five-star hotels to open on the Sheikh Zayed Road corridor. The acquisition adds to AHS Properties’ portfolio on Sheikh Zayed Road, which also includes AHS Tower, a Grade-A commercial development, and AHS City, a master-planned, mixed-use community with a forecast gross development value of AED 25 billion.
These three assets—AHS Tower, AHS City, and Shangri-La Hotel—form a vertical corridor portfolio on Sheikh Zayed Road. The combined footprint is part of AHS Properties’ AED 50 billion year-end 2026 pipeline.
Dubai’s real estate sector recorded AED 252 billion in transactions in the first quarter of 2026, with foreign investment rising 26 percent to AED 148.35 billion and the investor base reaching 48,448, according to the Dubai Land Department.
The acquisition does not affect the day-to-day operations of the Shangri-La Hotel, which remains part of AHS Properties’ Sheikh Zayed Road portfolio.
Categories: Other