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Modon Holding Announces a Strategic Investment in Wellington Lifestyle Partners, Expanding Its Global Portfolio in Luxury Lifestyle Destination Development

Business

Modon Holding Announces a Strategic Investment in Wellington Lifestyle Partners, Expanding Its Global Portfolio in Luxury Lifestyle Destination Development
Business

Business

Modon Holding Announces a Strategic Investment in Wellington Lifestyle Partners, Expanding Its Global Portfolio in Luxury Lifestyle Destination Development

2025-11-26 18:16 Last Updated At:11-27 23:06

ABU DHABI, United Arab Emirates--(BUSINESS WIRE)--Nov 26, 2025--

Abu Dhabi-based Modon Holding P.S.C (“ Modon ”) today announced a strategic investment in Wellington Lifestyle Partners (“ WLP ”), joining a consortium of existing investors in the company.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251125937208/en/

Modon’s investment will support the long-term development of Wellington International equestrian showgrounds and deliver a landmark ultra-luxury real estate development featuring high-end residences, a boutique hotel, a commercial marketplace and a championship golf course located in Wellington, Florida – a global icon of equestrian sport. This investment marks Modon’s first direct investment in an equestrian led development in the United States, complementing its existing global portfolio, and reinforcing its strategy to partner with leading international organisations in expanding its presence across ultra-luxury destination developments. The partnership further strengthens Modon’s position as a globally recognised investor in large-scale, high-value real estate and lifestyle projects.

Through the investment, Modon joins WLP’s group of existing investors and operators to advance a multi-asset portfolio of lifestyle and sports destinations. The portfolio includes the world-renowned Wellington International showgrounds; The Wanderers Club, a private family-oriented country club offering golf, tennis, swimming and dining; The Wellington, a new private residential club community comprising 253 best-in-class residences set to open in 2028 and featuring a championship-level golf course designed by David McLay Kidd; and a planned lifestyle Marketplace featuring a luxury boutique hotel, residences, shops, offices and restaurants. Together, these assets form a long-term masterplan to strengthen Wellington’s position as the global home of equestrian sport and luxury living.

The investment also includes a strategic licence agreement enabling Modon to use Wellington International’s brand and intellectual property across several key strategic markets to support the development of future lifestyle and community destinations. As part of the agreement, Modon will also become a premier sponsor of the Winter Equestrian Festival and Adequan® Global Dressage Festival (AGDF) – the world’s largest and longest-running hunter/jumper and dressage competitions, attracting over 250,000 spectators and exhibitors each year.

His Excellency Jassem Mohamed Bu Ataba Al Zaabi, Chairman of Modon Holding, said: “This strategic investment reflects Modon’s ambition to invest alongside world-class partners that share our vision for excellence in destination development. Wellington Lifestyle Partners represents a unique collaboration that brings together expertise in real estate, equestrian, hospitality and sports-led communities. By extending our reach to the United States, we are furthering Modon’s role in delivering sustainable destinations that embody quality, innovation and cultural connection.”

Bill O’Regan, Group Chief Executive Officer of Modon Holding, added: “Our partnership with Wellington Lifestyle Partners aligns with Modon’s strategy to develop integrated lifestyle destinations that combine community, sport and hospitality. Wellington International is recognised globally for its equestrian excellence, and this collaboration provides a valuable opportunity to exchange expertise in operations, master planning and design. It complements our portfolio across Hudayriyat Island, Ras El Hekma and La Zagaleta, reinforcing Modon’s commitment to delivering transformative, world-class destinations.”

Mark Bellissimo, Founder of Wellington Lifestyle Partners, said: “The addition of Modon Holding to Wellington Lifestyle Partners brings together an exceptional blend of expertise. With Modon’s world-class destination development experience, Doug McMahon and NEXUS’ leadership in luxury community development, and equestrian Murray Kessler as CEO of Wellington International, we are uniquely positioned to accelerate our vision to set a new standard of quality for an equestrian lifestyle destination here in Wellington.”

About Modon:

Modon is an international holding company, headquartered in Abu Dhabi, United Arab Emirates, and listed on the Abu Dhabi Securities Exchange (ADX). We are at the forefront of urban innovation, creating iconic designs and experiences that continually surpass expectations. Our primary business sectors include real estate, hospitality, asset management, investments, events, and tourism. Our goal is to deliver long-term, sustainable value, laying the foundations for intelligent, connected living.

About Wellington Lifestyle Partners

Based in Wellington, Wellington Lifestyle Partners (WLP) is backed by private investors, Mark Bellissimo, Lisa Lourie, Roger Smith, Jeff Skoll, Mike Smith and NEXUS Luxury Collection, and is a real estate, hospitality and sports management company dedicated to excellence. Led by Chief Executive Officer Douglas McMahon and President Paige Nuñez, WLP operates a portfolio that includes the new private residential club community of The Wellington, the Wellington International showgrounds, The Wanderers Club and a charming commercial Marketplace to include a luxury boutique hotel, residences, shops, offices and restaurants. WLP is committed to investing in Wellington for generations to come and supporting its position as the premier horse sport destination in the world. www.wlpfl.com

About Wellington International:

Established in 1974, Wellington International spans more than 200 acres in the heart of Wellington, Florida, and is renowned worldwide as a premier equestrian destination. Each year, it attracts riders and visitors from across all 50 U.S. states and more than 55 countries, hosting world-class competitions and events throughout the year. The venue combines state-of-the-art arenas and equestrian facilities with VIP hospitality, dining, and retail experiences, contributing more than $500 million annually in economic impact to the Palm Beach County economy through tourism, employment, and global investment.

Source:AETOSWire

Wellington International - PC Ashley Neuhof Photography (Photo: AETOSWire)

Wellington International - PC Ashley Neuhof Photography (Photo: AETOSWire)

Aerial shot of Wellington International (Photo: AETOSWire)

Aerial shot of Wellington International (Photo: AETOSWire)

NEW YORK (AP) — Elon Musk's space exploration company has filed preliminary paperwork to sell shares to the public, according to two sources familiar with the filing, a blockbuster offering that would likely rank as the biggest ever and could make its founder the world's first trillionaire.

A SpaceX IPO promises to be one of the biggest Wall Street events of the year, with several investment banks lining up to help raise tens of billions to fund Musk's ambitions to set up a base on the moon, put datacenters the size of several football fields in orbit and possibly one day send a man to Mars.

The sources spoke on condition of anonymity because they were not authorized to talk publicly about the confidential registration with the Securities and Exchange Commission.

SpaceX did not respond immediately to a request for comment.

Exactly how much SpaceX plans to raise has not been disclosed but the figure is reportedly as much as $75 billion. At that level, the offering would easily eclipse the $29 billion that Saudi Aramco raised in its IPO in 2019.

The offering, coming possibly in June, could value all the shares of SpaceX at $1.5 trillion, nearly double what the company was valued in December when some minority owners sold their stakes, according to research firm Pitchbook, before an acquisition that increased its size.

Musk owns 42% of the SpaceX now, according to Pitchbook, though that figure will change with the IPO when new owners are issued shares. In any case, he is likely to pierce the trillion dollar mark because he is already close. Forbes magazine estimates Musk's net worth at roughly $823 billion.

In addition to making reusable rockets to hurl astronauts and hardware into orbit, SpaceX owns Starlink, the world’s largest satellite communications company. The company also recently brought under its roof two other Musk businesses, social media platform X, formerly Twitter, and artificial intelligence business, xAI, in a controversial transaction because both the seller and the buyer were controlled by him.

SpaceX has become the biggest commercial launch company in its industry, responsible for sending payloads into orbit for customers across the globe, but has also benefited from big taxpayer spending. That has raised conflicts of interest issues given that Musk was the biggest donor to President Donald Trump's campaign and is still a big backer.

In the past five years, SpaceX won $6 billion in contracts from NASA, the Defense Department and other U.S. government agencies, according to USAspending.gov.

Among current SpaceX owners is Donald Trump Jr, the president's oldest son. He owns a shares through 1789 Capital. That venture capital firm made him a partner shortly after his father won the presidency for a second time and has been buying up federal contractors seeking to win taxpayer money ever since.

The White House and Trump himself have repeatedly denied there are any conflicts of interest between his role as president and his family's businesses.

FILE - A Falcon 9 SpaceX heavy rocket lifts off from pad 39A at the Kennedy Space Center in Cape Canaveral, Fla., Tuesday, Feb. 6, 2018. (AP Photo/John Raoux, File)

FILE - A Falcon 9 SpaceX heavy rocket lifts off from pad 39A at the Kennedy Space Center in Cape Canaveral, Fla., Tuesday, Feb. 6, 2018. (AP Photo/John Raoux, File)

FILE - Elon Musk attends the finals for the NCAA wrestling championship, March 22, 2025, in Philadelphia. (AP Photo/Matt Rourke, File)

FILE - Elon Musk attends the finals for the NCAA wrestling championship, March 22, 2025, in Philadelphia. (AP Photo/Matt Rourke, File)

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