Luxury hotels operator FIVE Holdings is planning to launch an initial public offering (IPO) in around two years on the UAE stock exchange, as reported by Bloomberg.
Following the company’s IPO, it will join the existing collection of private entities that are planning to list in the UAE.
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FIVE Holdings chairman and founder Kabir Mulchandani told Bloomberg TV: “Our long-term goal is to do an IPO. This year is definitely out; we would be looking at it in 2025.”
He further stated that the company will aim for an initial listing in the emirate as a “made in Dubai” brand.
Mulchandani added: “We would look at possibly London as well, but I think the way the Dubai capital markets are growing, it might just be a Dubai listing.”
Dubai-based FIVE Holdings operates luxury party hotels in Dubai and Switzerland.
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By GlobalDataThe group provides guests with a supercar for a fee of AED10,000 ($2,723) and they can drive entirely into its hotels’ nightclubs.
Additionally, in 2023, it started offering private jet parties for a fee of $14,000 per hour for up to 16 passengers.
Currently, the group owns and operates FIVE Palm Jumeirah and FIVE Jumeirah Village.
FIVE Zurich is the company’s first international property, with FIVE LUXE set to open this year.
Additionally, Nasdaq Dubai has revealed that the debut listing of green bonds valued at $350m issued by FIVE Holdings received a top environmental, social and governance rating.
