Leading international law firm Baker McKenzie has advised on the acquisition of the Anantara The Palm Dubai Resort located on the world-famous Palm Jumeirah island off the coast of Dubai in the UAE. The transaction included the purchase of the land and business relating to the five-star luxury hotel resort comprising the Anantara Spa, over-water villas, a private beach and residences.
Leading on the transaction, Keri Watkins, Partner and Co-Head of the Real Estate and Hospitality Practice Group in the Middle East, commented, “The acquisition of the Anantara The Palm Dubai Resort is yet another landmark transaction that underscores the strong investor appetite and commitment to the thriving hospitality sector in the UAE. Boasting of the Anantara Hotels and Resorts brand, the hotel resort is an iconic addition to our client's portfolio, and we are proud to have played a pivotal role in this transaction.”
Marcos Spanos, Corporate and M&A Partner at Baker McKenzie, further stated: "We are pleased to have advised on this high-profile hotel resort acquisition. This transaction further demonstrates the strength of our hospitality transactional practice in the Middle East, and we look forward to continuing to support our real estate and hospitality clients with their transactions in line with their growth plans."
The Baker McKenzie cross-practice team was led by partners Keri Watkins and Marcos Spanos and included lawyers from our Dubai, Bahrain and London offices, including:
• M&A: Haya Massoud (senior associate, Dubai), Ololade Odunubi (associate, Dubai) and Neda Bahador (associate, Dubai)
• Real Estate: Jack McCaw (senior associate, Dubai/London), Tessa Crawford (associate, Dubai) and Jana Al-Afoo (junior associate, Dubai/Bahrain)
Demonstrating our deep-rooted understanding of hospitality projects in the region, this deal adds to the extensive list of real estate and hotel transactions on which Baker McKenzie advised on, including most recently advising on the sale of Nurai Island Hotel in Abu Dhabi, UAE.