King Abdullah II Fund for Development Raises Stake to 51% in Dead Sea Tourism Company
Ammon News - The King Abdullah II Fund for Development announced its decision to increase its stake in the Dead Sea Tourism and Real Estate Investment Company, acquiring a controlling 51 percent share in the firm, which owns and manages prominent assets including the King Hussein Convention Palace, the Hilton Hotel at the Dead Sea, Samara Tourist Resort, and Samara Mall.
The Fund's additional investment, totaling JD10 million, aims to bolster the company's diverse ventures and support the development and expansion of its business operations. With this increase, the Fund becomes the largest shareholder, surpassing other partners such as the Emirati company Emaar, General Mediterranean, the Arab Bank Group, and a consortium of local and international investors.
The King Hussein Convention Palace at the Dead Sea, one of the Arab world's largest conference centers with 27 halls, opened in 2005 and has hosted numerous international, Arab, and local events, including the 2017 Arab Summit and several World Economic Forum meetings.
In 2017, the company inaugurated a beachfront hotel at the Dead Sea, featuring 285 rooms and executive suites, seven restaurants, and managed by Hilton Hotels & Resorts Worldwide.
The company also owns Samara Mall, opened in 2014, which houses a medical clinic, service center, shopping outlets, markets, and restaurants, serving both tourists and local visitors. Additionally, it owns the Samara Tourist Resort, a mixed-use complex comprising 198 hotel apartments, of which 75 percent have already been sold. Petra
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6 hours ago
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King Abdullah II Fund for Development Raises Stake to 51% in Dead Sea Tourism Company
Ammon News - The King Abdullah II Fund for Development announced its decision to increase its stake in the Dead Sea Tourism and Real Estate Investment Company, acquiring a controlling 51 percent share in the firm, which owns and manages prominent assets including the King Hussein Convention Palace, the Hilton Hotel at the Dead Sea, Samara Tourist Resort, and Samara Mall. The Fund's additional investment, totaling JD10 million, aims to bolster the company's diverse ventures and support the development and expansion of its business operations. With this increase, the Fund becomes the largest shareholder, surpassing other partners such as the Emirati company Emaar, General Mediterranean, the Arab Bank Group, and a consortium of local and international investors. The King Hussein Convention Palace at the Dead Sea, one of the Arab world's largest conference centers with 27 halls, opened in 2005 and has hosted numerous international, Arab, and local events, including the 2017 Arab Summit and several World Economic Forum meetings. In 2017, the company inaugurated a beachfront hotel at the Dead Sea, featuring 285 rooms and executive suites, seven restaurants, and managed by Hilton Hotels & Resorts Worldwide. The company also owns Samara Mall, opened in 2014, which houses a medical clinic, service center, shopping outlets, markets, and restaurants, serving both tourists and local visitors. Additionally, it owns the Samara Tourist Resort, a mixed-use complex comprising 198 hotel apartments, of which 75 percent have already been sold. Petra
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