Issue link: https://maltatoday.uberflip.com/i/1530133
8 maltatoday | WEDNESDAY • 4 DECEMBER 2024 NEWS THE Corinthia Group has en- tered into an exciting partner- ship with Kuwaiti-based con- glomerate Action Real Estate Company to explore investment opportunities for luxury hotels and real estate at prime locations in the Americas and beyond. The Corinthia Group, trading as IHI plc, is an investor, devel- oper and world-renowned hotel brand. Together with Action Real Estate Company, privately owned in Kuwait with diverse in- terests ranging from oil services to hospitality, it will be exploring and evaluating landmark devel- opment 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 experi- ence to one of the most coveted addresses on the Upper East Side of Manhattan. Corinthia Group CEO and Managing Director Simon Nau- di said: "Corinthia Group is de- lighted to partner with the Ac- tion Group. We share similar values, a common vision, and a commitment to bring our in- vestment, brand and innovation to the hospitality and real estate sector." Action Real Estate Compa- ny Chairman Sheikh Mubarak A. M. Al Sabah said: "We look forward to working closely with Corinthia on investment and de- velopment projects worldwide, bringing our organisations' re- spective strengths to bear upon the projects we intend to pursue together". Set up in 2004, Action Real Es- tate Company is present in over 12 countries in the Middle East, Europe and Australia, and em- ploys more than 2,000 person- nel. In addition to headquarters in Kuwait, the Group also has re- gional offices in Muscat, Oman and Melbourne, Australia. Sheikh Mubarak is a promi- nent figure in Middle East busi- ness who has been instrumen- tal 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 di- verse group now trading as IHI plc, owning, developing and op- erating luxury hotels, residential and commercial real estate in some of the world's most pres- tigious destinations including London, Brussels, Rome New York and the Gulf. The Group's subsidiaries in- clude Corinthia Real Estate Ven- tures (C-REV), which originates and develops real estate projects globally; Corinthia Hotels, which operates hotels; and QP, which provides design and project management services. Corinthia and Kuwaiti-based Action Real Estate Company join forces for luxury hotel and property projects Corinthia Group CEO Simon Naudi and Action Real Estate Company Chairman Sheikh Mubarak A. M Al Sabah sign a partnership agreement in Kuwait as C-REV Managing Principals Marcus Pisani and Alex Chazkel look on. KDM Investments Ltd, at the core of the diversified KDM Group, has officially acquired the remaining equity of G4S Securi- ty Services Ltd and G4S Security Services (Malta) Ltd from Allied Universal. This strategic acqui- sition brings KDM Investments Ltd's ownership from 49.9% to 100%, cementing KDM Group's presence in the security services industry and reinforcing its com- mitment to innovation, quality, and sustainable business growth. The company confirmed that all conditions precedent related to the acquisition have been satis- fied, paving the way for this sig- nificant milestone. The full acquisition reflects KDM Group's confidence in G4S Malta's strong market position and future potential. The Group, well-known for its wide-ranging and resilient business ventures in Security (G4S Malta Group), Aviation (Avia Group), Parking & Mo- bility (CtGroup) and Tourism (FCM Travel and Travel Mall), views this milestone as a major opportunity to further enhance its service offerings in the se- curity sector. Following the eq- uity change, KDM Group has assured all stakeholders that there will be no disruptions or alterations to G4S Malta oper- ations. G4S Malta, the largest and longest-serving security company in Malta established locally since 1988, remains steadfast in its dedication to its 1,600 employees and its cli- ents and suppliers, continuing its trusted legacy of excellence in integrated security services, manned and professional se- curity, electronic security sys- tems, and cash management services, and confirms that it will continue to operate under the G4S brand and the global standards it is well known for. Kenneth De Martino, Chair- person of KDM Group, shared his enthusiasm about this new chapter: "The full acquisition of G4S Malta aligns perfectly with our strategic vision for sustained growth and sector leadership. G4S Malta is a val- uable asset with tremendous potential, and we are excited to invest in its future. Our goal is to drive its development while maintaining the exception- al service standards that have made it a market leader." Ing. Edward Chetcuti, CEO of G4S Malta, highlighted the organisation's ongoing com- mitment to excellence and sta- bility: "Our experienced and dedicated teams have been the backbone of G4S Malta's suc- cess, and I want to reassure all employees, clients, and part- ners that it's business as usual. This acquisition represents an opportunity for us to build on our strengths, explore new ave- nues for innovation leveraging on technology advances such as AI and its application within the security and cash services, and enhance our service offer- ings under the strategic guid- ance and investments that will be provided by KDM Group." With this acquisition, KDM Group reaffirms its position as a forward-thinking and growth-oriented enterprise. The strategic integration of G4S Malta into the KDM fami- ly promises a future of stability, opportunity, and shared suc- cess, contributing positively to the Maltese economy and the broader security services land- scape. From left: Ing. Edward Chetcuti, CEO of G4S Malta and Kenneth De Martino, Chairperson of KDM Group after signing the acquisition agreement KDM Investments Ltd completes full acquisition of G4S Malta