Abu Dhabi Nationwide Lodges to develop $272m luxurious resort in Ras Al Khaimah

Abu Dhabi Nationwide Lodges is investing greater than Dh1 billion ($272 million) to develop a luxurious resort on Ras Al Khaimah’s Al Marjan Island as the corporate expands its operations amid the UAE’s tourism sector restoration from the coronavirus slowdown.

The Abu Dhabi-listed firm will develop a 1,000-room resort on a 1 million square-foot website overlooking the Arabian Gulf, it mentioned on Tuesday.

“At ADNH, we’re assured that our funding in Ras Al Khaimah will create robust returns to our shareholders and improve the UAE as a number one journey and hospitality vacation spot,” mentioned chief govt Khalid Anib.

“This luxurious resort will complement our current portfolio throughout Abu Dhabi and Dubai.”

The UAE’s tourism continues to recuperate from Covid-19 on the again of presidency initiatives and efficient measures to regulate the unfold of the pandemic.

Income from the tourism sector exceeded Dh19bn in the course of the first half of this yr and the complete variety of resort visitors in the course of the interval reached 12 million — a rise of 42 per cent, Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, mentioned final week.

Ras Al Khaimah “has strengthened its popularity as an funding, hospitality and tourism hub, attracting high-profile investments and that includes world-class property”, Abdulla Al Abdooli, chief govt of Marjan, the developer behind the Al Marjan Island challenge, mentioned.

“The funding by ADNH to develop a luxurious resort in Al Marjan Island displays its confidence within the potential of the vacation spot and can catalyse extra investments.”

Al Marjan Island has more than 3,000 hotel rooms. Photo: Radisson Hotels

Abu Dhabi’s largest developer Aldar Properties can be boosting investments in Ras Al Khaimah.

In July, Aldar purchased Ras Al Khaimah’s DoubleTree by Hilton Resort and Spa Marjan Island, in addition to an adjoining beachfront improvement plot for Dh810m, because it expands its hospitality and leisure funding portfolio within the UAE.

The developer purchased Al Hamra Mall in February and Rixos Bab Al Bahr in April, with the corporate’s complete investments within the emirate rising to Dh2bn.

Al Marjan Island has greater than 3,000 resort rooms, together with Hampton by Hilton Marjan Island, Movenpick Resort Al Marjan Island, Rixos Bab Al Bahr Resort, DoubleTree by Hilton Resort and Spa Marjan Island, and Marjan Island Resort and Spa.

ADNH owns a lot of accommodations in Abu Dhabi and Dubai together with Radisson Blu resort and Resort Abu Dhabi, The Ritz-Carlton Abu Dhabi Grand Canal, Le Meridien Abu Dhabi, Sofitel Dubai Jumeirah Seashore and Tackle Dubai Mall, amongst others.

The corporate reported about Dh110m in revenue within the second quarter of 2022 in comparison with Dh34.3m throughout the identical interval final yr on the again of upper income. It owns property value Dh9.6bn as of June 30, in keeping with its monetary assertion.

Up to date: September 20, 2022, 9:35 AM



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