(MENAFN) Investment Corp of Dubai (ICD) has announced its acquisition of the Atlantis hotel, previously owned by Dubai World, Arabian Business reported.
Deputy chief executive officer of ICD said: "Our acquisition of an asset that is a major contributor to the domestic tourist industry is in line with our overall strategy to support long-term sustainable growth for Dubai."
This sale comes as part of Dubai World's series of asset sales to repay its debts following the USD25 billion restructuring two years ago.
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