Modon Holding exits Icon Hotel, divests its investment to ADQ

Abu Dhabi’s Modon Holding said it is divesting its full indirect investment in Icon Hotel Investment to Abu Dhabi Developmental Holding Company (ADQ).

Modon said in a filing that it has entered into definitive agreements regarding this, and that the transaction does not affect its hospitality assets outside of Icon.

Icon Hotel has a portfolio of 15 owned, operated and joint-venture hotels in the UAE and other international markets.

The transaction is expected to be completed by the first quarter of 2026, after receiving necessary regulatory approvals.