(US$ 272 million) to develop a luxury resort at Ras Al Khaimah’s Al Marjan Island
Ras Al Khaimah; September 20, 2022: Abu Dhabi National Hotels (ADNH), a listed company at Abu Dhabi Stock Market operating Hotels, Catering, Tours and Transportation, has acquired a prime plot on Al Marjan Island to develop a AED 1 Billion luxury Resort with 1,000 rooms, spread over 1 million square feet overlooking the Arabian Gulf.
The investment highlights the appeal of Al Marjan Island as one of the top tourist destinations in the UAE with several global hotel operators already having made significant investments.
Arch. Abdulla Al Abdooli, CEO of Marjan, said: “Ras Al Khaimah’s strength is its fully diversified economy with theleadership focused on promoting trade, tourism, hospitality, and manufacturing. Over the years, the Emirate has strengthened its reputation as an investment, hospitality, and tourism hub, attracting high-profile investments and featuring world-class assets. Marjan continues to establish high-end projects in the hospitality, leisure and sports sectors to support the destination strategy of the Emirate. The investment by ADNH to develop a luxury resort in Al Marjan Island reflects its confidence in the potential of the destination and will catalyse additional investments.”
Sheikh Ahmed Aldhaheri, Vice-Chairman and Managing Director of ADNH, said: “This is an exciting opportunity to expand and position into other Emirates. Our strong believe in the potential, economy and leadership of the UAE were the main catalyst of this investment.”
Khalid Anib, CEO of ADNH, said: “At ADNH, we are confident that our investment in Ras al Khaimah will create strong returns to our shareholders and enhance UAE as a leading travel and hospitality destination. This luxury Resort will complement our existing portfolio across Abu Dhabi and Dubai.”
Al Marjan Island by Marjan has more than 3,000 hotel rooms, including Hampton by Hilton Marjan Island, Mövenpick Resort Al Marjan Island, Rixos Bab Al Bahr Hotel, DoubleTree by Hilton Resort & Spa Marjan Island and Marjan Island Resort and Spa and is a destination which offers unique lifestyle experiences with sandy beaches stretching over 7.8 km and a 23 km waterfront. It is developed under the visionary guidance of His Highness Sheikh Saud Bin Saqr Al Qasimi, Member of the Supreme Council and Ruler of Ras Al Khaimah.