Switzerland-based hotel firm Aman Group is seeking to raise $2 billion in new capital to support its global expansion initiatives.
The luxury hospitality brand, which has attracted approximately $1.3 billion from Gulf wealth funds and other investors over the past three years, plans to use the funds to open more hotels across the Middle East and Africa.
The company is developing 23 hotels and aims to expand Aman Residences, which caters to affluent individuals seeking a hotel-like living experience.
“We are working to expand the brand and are collaborating with various investment funds, negotiating with multiple groups,” Aman CEO Vladislav Doronin told Bloomberg.
In 2022, Saudi Arabia’s Public Investment Fund (PIF) and UK-based property investment firm Cain International invested $900 million in Aman Group.
In 2023, the company secured $360 million from Mubadala Capital, the investment arm of Abu Dhabi’s Mubadala Investment Company, and private equity fund Alpha Wave Ventures.
