SyCipLaw advised KHI in the sale of its shares in KHI-ALI Manila, Inc. and KHI Manila Property, Inc.
March 22, 2013
SyCipLaw acted as Philippine counsel to Kingdom Hotel Investments (KHI) in the sale of its shares in KHI-ALI Manila, Inc. and KHI Manila Property, Inc., the developer and operator of the Fairmont Hotel and Raffles Suites & Residences Makati, to Ayalaland Hotels and Resorts Corp. The sale was finalized on October 3, 2012.
Dubai-based KHI is a wholly-owned subsidiary of the Saudi Arabian conglomerate Kingdom Holding Company (KHC), which is chaired by Prince Alwaleed bin Talal. It has ownership interests in 19 properties in 13 countries. The sale involves a major stake in the Fairmont Hotel and Raffles Suites & Residences Makati development in the Philippines.
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