Dubai Investor Buys Plaza Hotel for $600 Million, Plans UAE Location for 2020

Dubai-based White City Ventures is boosting its business in New York City and across the globe. According to the South China Morning Post, White City, owned by Shahal Khan, teamed up with New York City-based real estate investor Kamran Hakim to purchase the Plaza Hotel in a $600 million deal.

In addition to the purchase for the Midtown-based luxury hotel, Khan plans to expand the Plaza Hotel into an international hotel chain with an additional location in the United Arab Emirates by 2020.

“I’m looking for a place – maybe China, maybe even one in Europe – but I thought it might be good to make the only other one in Abu Dhabi or Dubai,” Khan told the South China Morning Post. “I have a lot of business in Pakistan so for me Dubai is a central hub, even more than London.”

Monica Link

Monica Link

Editor-in-Chief for New York City Wired - Monica Link is a New York City-based technology / fashion writer and entrepreneur. Monica has interviewed CEO's, rising tech entrepreneurs and celebrities. Her work is followed by readers in more than 10 countries. Monica's notable interviews incliude celebrity trainer Gunner Peterson, New York Times bestsellers David Bach and Josh Linkner. As a passionate lover of the arts, Monica has performed, written and produced in live theater. She also writes about gallery exhibits, literature and fashion including New York Fashion Week. Follow her on Twitter @Memymonicalink

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