The investment company ADQ, one of the national funds of Abu Dhabi, has acquired the holdings of SÍA III, a fund under the management of Stefnir, in the Reykjavík Edition Hotel at Austurhöfn. In addition, ADQ has also purchased shares of other shareholders, which include both pension funds and private investors, but it was the holding company Mandólín hf., which owned about 70% of the shares in the hotel.
Ras al-Khaimah is all set to enter a new era of development, but with it comes capacity challenges to meet its real estate and leisure sector objectives