Dubai-based Select Group has purchased the Radisson Blu Hotel Dubai Media City for AED 200 million ($54.5 million), marking the highest-recorded hotel sale in Dubai’s Media Free Zone. The transaction, facilitated by Knight Frank MENA, underscores the strong investment appeal of Dubai’s hospitality sector, which has seen twelve hotel transactions in the past 18 months, with Knight Frank managing nine of them.

Strategic Expansion and Redevelopment

As part of its growth strategy, Select Group plans a comprehensive refurbishment of the business-centric hotel, which is located near the regional headquarters of major companies such as META, Pfizer, Samsung, and Mastercard. The renovation will focus on upgrading rooms, public spaces, and dining venues to address what the company identifies as a gap in Media City’s hospitality offerings.

Strengthening Dubai’s Hospitality Market

The sale of the Radisson Blu Hotel Dubai Media City reflects Dubai’s ongoing evolution as a global destination for hotel investment. As the highest-value hotel transaction in the Media Free Zone, it highlights the strategic importance of well-located assets in Dubai’s expanding market.

The acquisition was completed through Select M City Limited, a subsidiary of Select Investments Limited, with legal advisory support from Baker McKenzie and Wisefields.

Expanding Select Group’s Portfolio

With a development portfolio exceeding 20 million square feet and a Gross Development Value (GDV) of AED 35.2 billion, Select Group continues to strengthen its presence in Dubai’s luxury hospitality and real estate sectors. The company has delivered over 7,000 homes and has 6,000 additional units in the pipeline, further establishing itself as a key player in Dubai’s property development landscape.

This latest acquisition reinforces Select Group’s commitment to enhancing hospitality experiences in prime locations, contributing to long-term growth and value creation in the sector.