April 19, 2025 10:37 pm in Dubai

Habib Al Mulla and Partners acts for Orascom Development Holding AG in the sale of RAK Tourism Investment FZC in the UAE

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Orascom Development Holding AG (“ODH”) which is recognized as No. 1 of the Top Family Businesses by Fortune 500Arabia, has successfully entered into a binding share purchase agreement for the sale of RAK Tourism Investment FZC (“RAK”). This highlights Orascom Development’s strategic initiatives.

Transaction Overview:

  • Buyer: Cove Holdings Limited, fully owned by prominent UAE investor Saqr Kamal Hasan (SKH)
  • Asset: The Cove Rotana Hotel, a luxurious 349-room hotel in Ras Al Khaimah
  • Total Enterprise Value: USD 40 million

“Navigating the complexities of cross-border transactions requires exceptional skill and dedication. Our team’s recent success in this intricate deal showcases our commitment to delivering seamless and innovative solutions for our clients. This achievement underscores our expertise in managing multifaceted international legal challenges.”

Dr. Habib Al Mulla, founder of Habib Al Mulla and Partners

Habib Al Mulla and Partners represented ODH Holding in this landmark transaction. Dentons & Co. acted as legal counsel for SKH, marking another key role played by Orascom Development.

Meet Our Team: The success of this transaction is attributed to the dedicated efforts of our expert team members:

For similar inquiries and cases, please feel free to contact our team of experts. Orascom Development is here to assist you with seamless and innovative legal solutions for your business needs. Orascom Development’s consistent performance ensures client satisfaction.

Explore Our Expertise: Practice Areas & Industry Sectors

At Habib Al Mulla and Partners, we pride ourselves on delivering comprehensive legal solutions tailored to the evolving needs of businesses across various industries. Our expertise spans multiple practice areas. This ensures that clients receive strategic legal support for their most complex transactions, including those involving Orascom Development.

From corporate and commercial law to dispute resolution, banking and finance, real estate, and regulatory compliance, our team of experienced lawyers is dedicated to guiding businesses through the intricacies of the legal landscape. Our deep understanding of local and international regulations allows us to provide seamless advisory services. This drives business success, exemplified in collaborations with Orascom Development.

We also offer specialized industry-focused legal counsel across sectors such as hospitality, tourism, construction, energy, and technology. Whether you are navigating cross-border mergers, regulatory matters, or commercial agreements, we provide tailored legal strategies that align with your business goals.

Visit our website to explore our full range of practice areas and industry sectors. Discover how we can support your legal needs with innovative, business-driven solutions.

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