Saudi’s Public Investment Fund (PIF) announced on Monday its injection of $900 million with Cain International to support Aman Group’s expansion plan around the world for its luxury hotels and residential properties.
The investment will contribute to strengthening the group’s existing portfolio of hotels and resort, and support the completion of new projects. It also will help the acquisition and development of additional destinations.
The transaction underlines the strategic growth of the Group over the past eight years and proves the confidence between Aman and the two investors, CEO of Aman
Moreover, the investment meets PIF’s strategy to invest in promising sectors to achieve sustainable, attractive returns in Saudi Arabia and globally, Turqi Al-Nowaiser PIF’s deputy governor, commented.
Aman Group’s portfolio includes 34 hotels in 20 countries, in addition to nine other hotel and residential projects under construction.
The Group has intention to develop additional projects in several countries, including: Saudi Arabia, the United States of America, Japan, Mexico, South Korea and various destinations in Europe.
#PIF has invested $900M alongside Cain International in Aman Group to accelerate its global expansion of ultra-luxury hotels and branded residences, in line with the #PIFstrategy 2021-2025. pic.twitter.com/g7KtdSIIc9
— Public Investment Fund (@PIF_en) August 15, 2022
