Aldar Properties has acquired the DoubleTree by Hilton Resort & Spa on Al Marjan Island for AED 810 million, aimed at boosting its hospitality portfolio in Ras Al Khaimah.

Target Information

Aldar Properties PJSC, through its Aldar Investment division, has significantly expanded its hospitality portfolio by acquiring the DoubleTree by Hilton Resort & Spa on Al Marjan Island, along with an adjacent beachfront development plot. The total consideration for the acquisition amounts to AED 810 million. This transaction enhances Aldar's diverse portfolio, which now encompasses over 4,250 keys, solidifying its presence in the Ras Al Khaimah region.

The DoubleTree by Hilton, completed in 2014 and further expanded in 2016, is a luxurious five-star resort comprising 724 rooms. It boasts extensive amenities, including eight restaurants, six bars, a nightclub, spas, eight pools, and a private beach, all spread over a total built-up area of more than 234,000 square meters.

Industry Overview in Ras Al Khaimah

Ras Al Khaimah is rapidly emerging as a key destination for luxury tourism and staycations, supported by the Emirate's strategic initiatives to attract an annual target of three million visitors by 2025. The