Switzerland-based hotel firm Aman Group is actively seeking to secure $2 billion in new capital to support its global expansion initiatives. The luxury hospitality brand has already attracted approximately $1.3 billion from Gulf wealth funds and other investors over the past three years.

The funds will be utilized to open more hotels across the Middle East and Africa. Currently, Aman is developing 23 hotels and plans to expand Aman Residences, which caters to wealthy individuals looking for a hotel-like living experience. According to Aman CEO Vladislav Doronin, the company is collaborating with various investment funds and is in negotiations with multiple groups to achieve this expansion.

In a significant move during 2022, Saudi Arabia’s Public Investment Fund (PIF) and UK-based property investment firm Cain International invested $900 million in Aman Group. Additionally, in 2023, the company secured $360 million from Mubadala Capital, which is the investment arm of Abu Dhabi’s Mubadala Investment Company, along with private equity fund Alpha Wave Ventures. Alpha Wave Ventures is jointly managed by Alpha Wave Global and Chimera Capital, a division of Abu Dhabi’s Royal Group, chaired by Sheikh Tahnoun bin Zayed Al Nahyan.