In order to build a premium resort on Ras Al Khaimah’s Al Marjan Island, Abu Dhabi National Hotels will spend more than Dh1 billion ($272 million). The company is also looking at potential international development options in the area. On a 1 million square foot plot with views of the Arabian Gulf, the business, which is specifically mentioned in Abu Dhabi, will build a 1,000-room resort.
Al Marjan Island Invests Billions In Upcoming Project
The UAE’s largest tourist attraction, Al Marjan Island, is also the location of various hotel businesses. During the first quarter, the industry’s revenue surpassed Dh19 billion, and there were 12 million hotel guests overall, a growth of 42%. The investment by ADNH to build a five-star resort on this Island demonstrates its belief in the location’s viability and will spur other ventures.
It will be covering a space of over 90,000 sq m. Over 3,000 hotel rooms can be found on this Island. Notable are those at the Hampton by Hilton Marjan Island, Movenpick Resort Al Marjan Island, Rixos Bab Al Bahr Hotel, DoubleTree by Hilton Resort and Spa Marjan Island, and Marjan Island Resort and Spa.
Through a balance of mortgages from regional banking institutions and its own resources, ADNH will fund its new initiative. The initiative will return the firm’s initial investment between 8% and 12%.
Abu Dhabi National Hotels to #invest over AED 1 billion (US$ 272 million) to develop a luxury resort at #RasAlKhaimah’s Al Marjan Island. Read more: https://t.co/c3uo2PeZ81
— Ras Al Khaimah Government Media Office (@RAKmediaoffice) September 20, 2022
ADNH’s Owns Multiple Properties
The Radisson Blu Hotel and Resort Abu Dhabi, and The Ritz-Carlton Abu Dhabi Grand Canal are just a few of the hotels. Le Meridien Abu Dhabi, Sofitel Dubai Jumeirah Beach, and Address Dubai Mall are also a part of ADNH in Abu Dhabi and Dubai.
Many organisations have contacted ADNH about forming alliances to establish leaders in the hotel, transportation, and catering industries. ADNH has always been open to exploring. Dubai Investments also said that it will contribute to Dh1 billion made by mixing coastal development.
Also Read: 5 Luxury Hotels In Abu Dhabi