Marriott International and LG Electronics have teamed up to create a cloud-based in-room entertainment and technology platform. The new system merges LG's hardware capabilities with Marriott's enterprise tech infrastructure. Rolling out initially as a pilot project across 40 properties in the United States and Canada, the hotel chain aims to eventually launch the technology across its participating global portfolio.
Mapletree Investments has raised over US$500 million in equity commitments for the first close of its Emerging Asia logistics development strategy. The total includes US$250 million secured by its private fund, Mapletree Emerging Growth Asia Logistics Private Trust, along with co-investment backing. Targeting developments in Malaysia, Vietnam and India, the broader strategy is projected to reach a total investment value of US$2.1 billion when fully deployed.
UAE developer Arada has entered Syria through a joint venture with the Syrian Sovereign Fund to construct a $7 billion (AED 25.7 billion) megaproject in New Damascus. Covering four million square metres, the master-planned development will deliver 11,000 homes alongside commercial, healthcare and educational facilities. The agreement represents one of the largest foreign real estate commitments in the country to date.
Alvarez & Marsal has expanded its Middle East Real Estate, Travel, Hospitality and Leisure practice. Led by Yousef Wahbeh, the senior team will advise sovereign wealth funds, governments and developers as major regional projects move into operational phases. The move responds to growing demand for hands-on execution advisory across the region.
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