“Corinthia joins forces with Kuwait-based Action Real Estate Company for luxury hotel and Property Projects…”

Corinthia Group has signed a partnership with Kuwaiti-based conglomerate Action Real Estate Company.

The Corinthia Group has signed a partnership with Kuwaiti-based conglomerate Action Real Estate Company to explore investment opportunities for luxury hotels and real estate at prime locations in America and beyond.

The Corinthia Group, trading as IHI plc, is an investor, developer and world-renowned hotel brand. Together with Action Real Estate Company, privately owned in Kuwait with diverse interests ranging from oil services to hospitality, it will be exploring and evaluating landmark development projects.

Corinthia recently marked its entrance into North America as a hotel operator with the opening of The Surrey, a Corinthia Hotel in New York, which has been completely transformed into a signature property – featuring 100 guestrooms and suites and 14 private residences – bringing a new design and luxury experience to one of the most coveted addresses on the Upper East Side of Manhattan.

Corinthia Group CEO and Managing Director Simon Naudi said: “Corinthia Group is delighted to partner with the 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.”

Action Real Estate Company Chairman Sheikh Mubarak A. M. Al Sabah said: “We look forward to working closely with Corinthia on investment and development projects worldwide, bringing our organisations’ respective strengths to bear upon the projects we intend to pursue together”.

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.

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

About Corinthia Group 

The Corinthia Group, trading as International Hotel Investments plc, is a publicly listed company founded in Malta in 1962. The Group owns, develops, and invests in real estate and hotel assets across Europe, the USA, Africa and the Middle East. Beyond its investment portfolio, the Group owns Corinthia Hotels, an operating company that manages luxury hotels worldwide in gateway cities such as New York, London, Brussels and a healthy pipeline of locations under development. The Group’s other subsidiaries specialise in project management, design and property development.

Bitcoin storms above $100,000 as bets on Trump fuel crypto euphoria

Bitcoin hit a record high above $100,000 for the first time on Thursday, a milestone hailed even by sceptics as a coming-of-age for cryptocurrencies as investors bet on a friendly U.S. administration to cement cryptos’ place in financial markets.

The total value of the cryptocurrency market has almost doubled over the year so far to hit a record just shy of $3.8 trillion, according to data provider CoinGecko.

Bitcoin’s march from the libertarian fringe to Wall Street has minted millionaires, a new asset class and popularised the concept of “decentralised finance” in a volatile and often controversial period since its creation 16 years ago.

Bitcoin has more than doubled in value this year and is up more than 50% in the four weeks since Donald Trump’s sweeping election victory, which also saw a slew of pro-crypto lawmakers being elected to Congress.

Once it broke $100,000 in Thursday’s Asian morning, it was soon above $103,000 on its way to an all-time high of $103,619, a surge of about 6% on the day. It was last fetching $101,933 .

Malta Company Announcements:

Tigne Mall p.l.c

Reference is made to the conditional voluntary public takeover bid for the acquisition of the entire issued share capital of the Company launched by Marsamxett Properties Ltd (C 106474) (the “Offeror”) by means of an offer document dated 13 September 2024.  Company Announcement TML 135/2024 announced, inter alia, the Offeror’s intention to exercise its right to require all the remaining shareholders of the Company to sell and transfer the remaining shares to the Offeror for a cash payment of €1.04 per share held.  The Company announces that it has requested the Malta Financial Services Authority and the Malta Stock Exchange to suspend trading of Company shares to allow the exercise of this process in accordance with the Capital Markets Rules.   The Company will keep the market informed as required by the Capital Markets Rules. 

Maltapost p.l.c

The Board of Directors is scheduled to meet on Thursday 19 December 2024 to consider the approval of the financial statements for the year ended 30 September 2024

PG p.l.c

The board of directors approved an interim dividend of €0.025463 per share payable on Friday 6^th December 2024 to all shareholders as at close of trading on Wednesday, 27^th November 2024024, 2023/24 financial year.

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