Baker McKenzie and CMS Advised on Aldar's Purchase of Nurai Island Hotel, a High-End Boutique Resort in Abu Dhabi
Baker McKenzie and CMS Advised on Aldar's Purchase of Nurai Island Hotel, a High-End Boutique Resort in Abu Dhabi
Baker McKenzie and CMS, two international law firms, provided counsel regarding the transfer of ownership of Nurai Island, a boutique private island resort of exceptional luxury located off the coast of Abu Dhabi, to Aldar Properties. The purchaser is a prominent real estate developer and manager in the UAE.
The agreement encompassed the transfer of Nurai Island Hotel's shares and two additional islands located northeast of Nurai Island, which is intended for the development of opulent residential properties.
Baker McKenzie provided transactional legal services to the seller in the deal, whereas CMS acted as legal advisor to Aldar, the buyer.
By acquiring Nurai Island Hotel, Aldar has expanded its hospitality portfolio with an established and operational luxury asset, which also represents the first beachfront hotel in Abu Dhabi.
Keri Watkins, a seasoned lawyer specialising in real estate and hospitality law, Omar Momany, a partner focusing on mergers and acquisitions, and Marcos Spanos, a senior M&A lawyer, led the cross-practice team at Baker McKenzie. They were assisted by associates Jana Al-Afoo and Neil Williams.
The CMS team was headed by John O'Connor, who specialises in corporate law, and Geoff Smith, an expert in real estate law.
Nurai Island Hotel is an opulent beachfront hotel situated roughly two kilometers north of Saadiyat Island in Abu Dhabi, offering an exclusive and luxurious experience.
