Written by Joy Chakravarty

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Modon Holding exits Icon Hotel, divests its investment to ADQ

Icon Hotel has a portfolio of 15 owned and operated properties; Will not affect Modon’s existing hospitality assets outside Icon

Written by Joy Chakravarty
Modon exits Icon Hotel Investment
The transaction is expected to be completed by the first quarter of 2026, after receiving necessary regulatory approvals. Image: Shutterstock

Abu Dhabi’s Modon Holding said it is divesting its full indirect investment in Icon Hotel Investment to Abu Dhabi Developmental Holding Company (ADQ).

Modon said in a filing that it has entered into definitive agreements regarding this, and that the transaction does not affect its hospitality assets outside of Icon.

Icon Hotel has a portfolio of 15 owned, operated and joint-venture hotels in the UAE and other international markets.

The transaction is expected to be completed by the first quarter of 2026, after receiving necessary regulatory approvals.

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Joy Chakravarty

Joy Chakravarty is a freelance contributor from India, specialising in sports, business, and technology. He enjoys the thrill of covering breaking news, as much as the painstaking effort that goes into...

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  • Joy Chakravarty is a freelance contributor from India, specialising in sports, business, and technology. He enjoys the thrill of covering breaking news, as much as the painstaking effort that goes into crafting engaging feature stories. Notably, J...

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