Equitativa partners with Premier Inn Middle East for Muslim-friendly hotels

UAE: Equitativa Real Estate, considered to be the manager of the largest Shariah compliant REITs in the world, with about US$2 billion of AuM, inked a MoU with Premier Inn Middle East to establish six to eight new hotels across the GCC region. The planned expansion will double the Muslim-friendly operator Premier Inn’s current portfolio of 3,184 keys across 11 hotels. With a AED2 billion (US$544.58 million) investment, the deal will focus on delivering around 3,500 keys for city and airport locations in Dubai, Abu Dhabi, Ras Al Khaimah, Riyadh and Jeddah.