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2025: Billionaire Mohamed Alabbar buys Ritz-Carlton hotel in central Vienna from Bulat Utemuratov for €110m
In July 2025, it became known that the Kazakhstan investment group Verny Capital, controlled by a businessman from the Forbes Kazakhstan list, Bulat Utemuratov, sold the five-star hotel The Ritz-Carlton Vienna in central Vienna to Arab billionaire Mohamed Alabbar, founder of Emaar Properties and Eagle Hills. The deal was closed in January 2025. The amount amounted to about €110 million. Utemuratov's company purchased the hotel building in 2012, having previously signed a contract with Marriott to operate the hotel under the Ritz-Carlton brand.[1]
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