The leading independent Hungarian law firm Lakatos, Köves and Partners advised Al Habtoor Group on buying Hotel InterContinental in Budapest.
The chairman of the Al Habtoor Group, Mr Khalaf Al Habtoor announced that Al Habtoor Group LLC has become the new owner of the Intercontinental Hotel in Budapest.
It is the second hotel to be purchased by the Al Habtoor Group in the Hungarian capital, after his acquisition of the historic Le Méridien Budapest in 2012.
The company is currently embarking on an aggressive expansion drive. It recently added the Waldorf Astoria Dubai Palm Jumeirah to its hotel portfolio, and is building a new landmark in Dubai – the $3 billion Al Habtoor City development.
The legal advisor to both acquisitions in Budapest has been Lakatos, Köves and Partners, a leading independent law firm in Hungary.
The law firm has been the legal advisor to various significant real estate market players in recent years, such as GLL Real Estate, CBRE Global Investors, Europa Capital, Morgan Stanley Real Estate Fund, Prologis and Standard Life Investments.
The firm’s Real Estate practice is one of the biggest in the Hungarian legal sector, which works principally for international real estate developers and investors.