Sumou Investment and Abu Dhabi Capital announces a major strategic MoU to drive regional investment
Riyadh, KSA — In a significant move announced during the Future Hospitality Summit in Riyadh, Sumou Investment and Abu Dhabi Capital Group announced a major Memorandum of Understanding (MOU) aimed at strengthening regional cooperation in investment and development.
The agreement marks the beginning of a strategic partnership designed to unlock high-impact opportunities across key sectors, including hospitality, real estate, and infrastructure. This collaboration reflects a shared commitment to sustainable growth and economic diversification, aligning with long-term strategic visions in both Saudi Arabia and the UAE.
Both parties view this MOU as a pivotal step toward launching transformative projects that will enhance value creation and drive investment momentum across the Region. As part of the wider Abu Dhabi Capital Group ecosystem, STORY Hospitality — the Group's hospitality arm — is expected to play a supporting role in hospitality-related initiatives arising from the partnership.
About STORY Hospitality
STORY Hospitality is redefining what it means to stay, feel, and experience. Headquartered in Abu Dhabi, this fast-growing international hotel management company is on a mission to turn every guest journey into a story worth sharing. With a thoughtfully curated portfolio spanning luxury escapes and vibrant city stays, STORY Hospitality blends world-class service with bold design and a deep sense of place.
As the hospitality arm of Abu Dhabi Capital Group (ADCG) - one of the most prestigious institutional investment funds in the Middle East - STORY Hospitality is rooted in excellence and driven by ambition. Its collection includes the elevated elegance of STORY Hotels & Resorts and the urban edge of CUE Hotels, each offering a distinct approach to modern travel. From the turquoise shores of the Seychelles to the cultural heart of Morocco and the buzzing energy of the UAE, STORY's properties are designed to ignite the senses and inspire connection.
With a strong development pipeline, including upcoming openings in Morocco, Saudi Arabia, the UAE and Bahrain, the company is expanding its reach across the MENA region and beyond. Whether it's a barefoot island retreat or a design-forward city stay, STORY Hospitality is committed to growing its presence through immersive experiences and strategic innovation.
Beyond hotels, the company also manages a portfolio of commercial and residential assets, including offices, retail spaces, and apartments in Dubai and Abu Dhabi - offering a holistic vision of modern hospitality and lifestyle management.
At its core, STORY Hospitality exists to create moments of meaning. Its vision: to become the most inspiring brand in hospitality for guests, team members, and stakeholders alike. Its purpose: to deliver transformative stays that delight all the senses - and leave a lasting impression.
As its global footprint grows, so too does its promise: thoughtful service, distinctive design, and experiences that go beyond the expected.
Discover more at www.story-hospitality.com
For further information, please contact:
Ananda Shakespeare
Shakespeare Communications
ananda@shakespearecomms.com
shakespearecomms.com
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
22 minutes ago
- Zawya
Oil rises on US-China talks and Saudi supply dip
Oil prices extended gains on Tuesday, buoyed by U.S.-China trade talks and a dip in Saudi Arabian crude supply to China. Brent crude futures rose 23 cents, or 0.3%, to $67.27 a barrel by 1331 GMT, hovering near their highest since April 28. U.S. West Texas Intermediate crude was up 17 cents, or about 0.3%, at $65.46, near highs reached on April 4. U.S.-China trade talks were set to continue for a second day in London as top officials aimed to ease tensions that have expanded from tariffs to rare earth minerals, risking global supply chain disruptions and slower growth. "There's a sense of optimism around these trade talks; the market is waiting to see what this will produce, and that is supporting prices," said Harry Tchilinguirian, group head of research at Onyx Capital. Prices have recovered as demand concerns have faded with the trade talks between Washington and Beijing and a favourable U.S. jobs report while there are risks to North American supply from wildfires in Canada, Goldman Sachs analysts said. U.S. President Donald Trump said on Monday that the talks with China were going well and he was "only getting good reports" from his team in London. A trade deal between the two nations could support the global economic outlook and boost demand for oil and other commodities. On the supply side, allocations to Chinese refiners showed that Saudi Arabian state oil company Saudi Aramco will ship about 47 million barrels of oil to China in July, 1 million barrels less than June's allotted volume, Reuters reported. The Saudi allocations could be an early sign that the unwinding of OPEC+ production cuts might not result in much additional supply, Tchilinguirian said. OPEC+, which pumps about half of the world's oil and includes OPEC members and allies such as Russia, put forward plans for an output increase of 411,000 barrels per day (bpd) for July as it looks to unwind production cuts for a fourth straight month. A Reuters survey found that OPEC's May increase to oil output was limited, with Iraq pumping below target to compensate for earlier overproduction and Saudi Arabia and the United Arab Emirates making smaller increases than agreed. "The prospect of further hikes in OPEC supply continues to hang over the market," ANZ senior commodity strategist Daniel Hynes said in a note. Elsewhere, Iran said it would soon make a counter-proposal for a nuclear deal in response to a U.S. offer that Tehran deems "unacceptable", while Trump made clear that the two sides remained at odds over whether the country would be allowed to continue enriching uranium on Iranian soil. Iran is the third-largest OPEC producer and any easing of U.S. sanctions on Iran would allow it to export more oil, weighing on global prices. (Reporting by Anna Hirtenstein in London Additional reporting by Anjana Anil in Bengaluru and Jeslyn Lerh in Singapore Editing by David Evans and David Goodman)
Zawya
23 minutes ago
- Zawya
GASTAT: Saudi Industrial Production Index rises by 3.1% in April 2025
RIYADH — Saudi Arabia's Industrial Production Index (IPI) recorded an increase of 3.1 percent during the month of April 2025 compared to the same month in 2024. According to the results of the IPI for the month of April 2025, released on Tuesday by the General Authority for Statistics (GASTAT), the mining and quarrying sub-index rose by 0.2 percent year-on-year, while the manufacturing sub-index recorded a 7.4 percent increase. The GASTAT bulletin also reported a 0.2 percent decrease in the sub-index for electricity, gas, steam, and air conditioning supply activities, whereas the sub-index for water supply, sewage, waste management, and treatment activities increased by 8.8 percent compared to April of the previous year. Based on key economic activities, the bulletin further revealed a 4.3 percent year-on-year increase in the index for oil-related activities in April 2025, and a 0.1 percent rise in the index for non-oil activities. GASTAT issues IPI every month to measure relative changes in industrial production volumes. The index is based on data from the Industrial Production Survey, which is conducted on a sample of establishments operating in targeted industrial sectors, including mining and quarrying; manufacturing, electricity, gas, steam, and air conditioning supply; and water supply, sewage, waste management, and treatment activities. © Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
23 minutes ago
- Zawya
Mashaer Metro serves 1.87mln passengers during Hajj
MAKKAH — The Saudi Arabia Railways (SAR) transported approximately 1.87 million passengers, including pilgrims and Hajj officials, with operating 2,154 trips during the Hajj 2025. The SAR operated Mashaer Metro Train between the stations of Mina, Muzdalifah, and Arafat during the period from Dhul Hijjah 7 until the end of the Days of Tashreeq (Dhul Hijjah 13). The operational plan for the Mashaer Metro Train during the Hajj season included five main phases. The first phase, from Dhu Al-Hijjah 7 to 8, transported over 27,000 passengers across all stations. The second phase carried 282,000 pilgrims from Mina to Arafat, followed by the third phase, which transported 294,000 pilgrims from Arafat to Muzdalifah. In the fourth phase, more than 349,000 pilgrims were transported from Muzdalifah to Mina. The final phase, which lasted until sunset on the last day of Tashreeq, recorded the movement of over 920,000 passengers to and from Mina 3 (Jamarat) station. CEO of SAR Dr. Bashar Al-Malik expressed appreciation for the support and empowerment of the Saudi leadership, which contributed to the integration of efforts and services offered to pilgrims, including transportation through the Mashaer Metro Train. He noted that the successful completion of the operational plan reflects the efforts of SAR employees and the effective coordination with operational and security agencies, supported by extensive preparatory work, including simulation exercises and full-scale trial runs, ensuring the highest levels of readiness and safety. © Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (
