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Earlier this year, Aldar Properties purchased an existing resort and additional land in Ras Al Khaimah. The AED810 million merger means DoubleTree by Hilton Resort and Spa Marjan Island will become part of the major developer’s hotel portfolio in Abu Dhabi. This is Aldar’s second major deal at RAK, following his acquisition of Al Hamra Mall for AED 400 million.
As for ADNH, the move will expand its hotel interests to the north – it already owns and operates several prime properties in Abu Dhabi and Dubai. These include Le Meridien Abu Dhabi and Sofitel Jumeirah Beach.
ADNH is no stranger to high-profile deals — in late 2018, it acquired five Emaar-owned hotels, including Address Dubai Mall and Address Boulevard, for $600 million.
Ras Al Khaimah has driven good investment and expansion – “the emirate’s tourism infrastructure is in place and more attractions are being built in and around the destination,” said a hospitality analyst. “For ADNH, getting in now is all about timing the deals right. Al Marjan Island is a great place to be.”
Dubai Investments, another recent entrant into the RAK, has pledged to build a Dh1 billion resort in the emirate.
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