IFA Hotels & Resorts (IFA HR) has made its first investment in North America by completing a $300 million hotel deal.

The hotel will be built in Central Manhattan with leading US real estate developer Related Companies.

This landmark investment signifies the company’s continued aggressive expansion into international markets.

“This deal further diversifies our global portfolio and product mix and places us in a position for further expansion in this region and surrounding areas. We are excited about this development and working with Related, given their vast experience and impressive track record in real estate development in the US,” said IFA HR chairman and managing director Talal Jassim Al Bahar.

Heralded as one of the most prolific and visionary developers in the country, Related Companies is a fully integrated real estate firm with divisions specialising in development, acquisitions, finance, property management, and sales. 

Related has developed or acquired over $15 billion in real estate assets and has another $9 billion of development currently in the pipeline.

“We look forward to partnering with IFA Hotels and Resorts to bring a new world-class hotel to New York City,” said president, Related Companies, Jeff T Blau.

The deal follows other Middle Eastern companies venturing into the highly lucrative American hospitality market, such as IFA HR partner Istithmar Hotels, who have acquired the Manadarin Oriental hotel and the Knickerboker Hotel in New York City.

Currently present in 15 markets throughout the Middle East, Europe, Africa, the Indian Ocean region, Asia and now North America, IFA HR is at the forefront of developing mixed-use real estate projects.

Whether in resort or urban locations, integrating hotel, residential, fractional and commercial asset classes within the mix, IFA HR optimises the potential of any real estate development. – TradeArabia News Service