The Abu Dhabi Fund for Development and Minor International “Mint” have signed an investment agreement in the tourism and hospitality sector worth 385 million dirhams (104.8 million dollars) to invest in Thailand
The fund collaborates with Mint with participations in five tourist sites in Thailand, including Anantara Riverside Resort Bangkok, Avani Riverside Bangkok Hotel, Riverside Plaza Shopping Mall in Bangkok, Anantara Layan Phuket Resort and Four Seasons Resort Koh Samui.
This agreement represents the Abu Dhabi Development Fund’s first investment in the tourism and hospitality sector in Thailand, according to the Emirates news agency, WAM.
This sector is an essential source of growth for the Thai economy and contributes 20% to the country’s GDP.
The percentage of the Abu Dhabi Fund contribution for Development at these destinations is 40% under this joint investment, and the contribution of the company “Mint” is 60%, which reflects the performance bill of the company “Mint” in the management of tourist destinations, in in addition to the positive vision of the Fund for the future of the economy in the tourism and hospitality sector in Thailand.
Mint is one of the largest tourism and hospitality companies in the Asia Pacific region, managing more than 520 hotels and resorts.
For Mint, this cooperation with the Abu Dhabi Fund for Development is a very important step due to its role in strengthening the company’s balance sheet, reducing the company’s debts and improving its financial position.
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