The Investment Corporation of Dubai, ICD, announced today that it has made three new acquisitions in the global hospitality sector, comprising two in the USA, the W Hotel in Washington D.C., and a majority stake in the Mandarin Oriental in New York, and a minority stake in the One&Only in Cape Town, South Africa.
The strategic transactions demonstrate the commitment of ICD, the principal investment arm of the Government of Dubai, to continuously expand the reach and expertise of Dubai in a sector considered integral to the growth of the emirate and its economy.
http://www.wam.ae/en/news/economics/1395279031311.html
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