Corinthia Group signs partnership with Kuwait’s Action Real Estate Company to explore investment opportunities

On Tuesday (today), Corinthia Group signed a partnership with Kuwait-based Action Real Estate Company to explore investment opportunities for luxury hotels and real estate at prime locations in the Americas and beyond.

Set up in 2004, Action Real Estate Company is present in over 12 countries in the Middle East, Europe, and Australia and employs more than 2,000 personnel. In addition to headquarters in Kuwait, the group also has regional offices in Muscat, Oman and Melbourne, Australia.

Corinthia Group CEO and Managing Director Simon Naudi said that the group is delighted to partner with Action Group.

“We share similar values, a common vision, and a commitment to bring our investment, brand and innovation to the hospitality and real estate sector,” he added.

Action Real Estate Company Chairman Sheikh Mubarak A.M. Al Sabah commented that the company looks forward to working closely with Corinthia on investment and development projects worldwide, bringing the two organisations’ respective strengths to bear upon the projects they intend to pursue together.

Sheikh Mubarak is a prominent figure in Middle Eastern business and has been instrumental in spearheading many real estate and hospitality projects that have raised the bar in the region.

Founded in Malta in 1962, Corinthia has evolved into a diverse group, now trading as IHI plc, owning, developing and operating luxury hotels, residential and commercial real estate in some of the world’s most prestigious destinations, including London, Brussels, Rome, New York and the Gulf.

Recently, it marked its entrance in North America as a hotel operator with the opening of The Surrey, A Corinthia Hotel on the Upper East Side of New York.

The group’s subsidiaries include Corintha Real Estate Ventures, which originates and develops real estate projects globally, Corinthia Hotels, and QP which provides design and project management services.