The Radisson Blu Dubai Media City has been sold to Select Group for over AED 200 million ($54.5M), setting the record for the highest hotel transaction ever completed in Dubai's Media Free Zone. The deal, brokered by Knight Frank MENA, underscores the surging investor appetite for Dubai's hospitality sector.
Record-Breaking Hotel Deal in Dubai Media City
The acquisition was completed by Select M City Limited, a subsidiary of Select Investments Limited. Knight Frank's Andrew Love, Regional Partner and Head of Capital Markets, negotiated the transaction — the ninth hotel deal the firm has closed in Dubai within the last 18 months, out of 12 total hotel transactions in that period.
The Radisson Blu Hotel occupies a prime location in Dubai Media City, surrounded by the regional headquarters of global corporations including Meta, Pfizer, Samsung, and Mastercard — a corporate catchment that makes the property a strong performer for business travel demand.
Select Group Plans Full Property Refurbishment
Select Group intends to undertake a comprehensive refurbishment of the hotel, targeting guest rooms, public areas, and food and beverage venues. Founder and Chairman Rahail Aslam said the upgrade program aims to create dynamic offerings that meet the evolving demands of travellers and corporate guests, and identified an existing gap in the area's food and beverage landscape as a key opportunity.
"This addition to our hospitality portfolio signifies a key step in our growth journey," Aslam said.
Legal advice on the transaction was provided to Select Group by Baker McKenzie and Wisefields.
Dubai Hospitality Sector Attracting Record Investment
Andrew Love noted that the sale demonstrates the value of strategically located hotel assets in Dubai's thriving market. Knight Frank's run of nine hotel transactions in 18 months reflects the city's standing as one of the fastest-growing hotel investment destinations in the world.
Select Group's broader real estate portfolio spans more than 20 million square metres of developed land, with a total Gross Development Value of AED 35.2 billion. The company has delivered over 7,000 homes and currently has approximately 6,000 additional units under construction.
