A Saudi Arabia-based client has acquired of a Travelodge Hotel, located at London’s Heathrow Airport, for £40.3 million ($52.4 million) with Abu Dhabi Islamic Bank’s (ADIB) UK subsidiary providing £26 million ($33.8 million) in Shariah-compliant financing, the bank said in a statement on Sunday.
The hotel is leased to Travelodge Hotels Limited, the UK’s second largest hotel brand, with 20 years remaining on the lease, the Abu Dhabi-based lender said.
Developed in 2007, the hotel comprises six floors and offers a total of 297 rooms.
No details on the identity of the client were disclosed.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}