UAE sovereign fund ADIA looking to raise $500m from sale of two Sydney hotels

UAE sovereign fund ADIA looking to raise $500m from sale of two Sydney hotels

Sydney, Australia. Photo by Liam Pozz on Unsplash

Abu Dhabi Investment Authority (ADIA) is selling two of its Sydney hotel properties which could fetch the sovereign wealth fund (SWF) about $500 million, two sources familiar with the matter said.

The two hotels, Novotel Sydney on Darling Harbour and IBIS Sydney Darling Harbour, together have about 780 rooms and are the last hotels to be divested from a 31-asset portfolio that ADIA acquired in 2013, they said.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter