Rixos Bab Al Bahr hotel has 715 rooms and suites. Credit: Christopher Jolly on Unsplash.

Aldar Properties PJSC (Aldar) has expanded its portfolio in the UAE with the acquisition of Rixos Bab Al Bahr hotel in Ras Al Khaimah for AED770m ($210m).

The developer acquired the beach property through its investment arm.

As part of the deal, the company also secured development rights for an additional 250,000ft² of gross floor area (GFA) for residential and commercial use.

Situated on Al Marjan Island, the 715-key Rixos Bab Al Bahr is a beach resort with a diverse range of accommodations, restaurants and amenities.

The property includes multiple dining venues, bars and pubs, spa, fitness centre and swimming pool among others.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData

Tick here to opt out of curated industry news, reports, and event updates from Hotel Management Network.

Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

It will take the company’s total investment in Ras Al Khaimah to AED1.5bn ($408.3m) after acquiring Al Hamra Mall and other development rights at both properties.

Aldar Investment CEO Jassem Busaibe said: “Ras Al Khaimah continues to rise in popularity as a tourist destination as international borders open and leisure travel returns, and we expect further upside as the Emirate executes on its strategy to become the regional leader in environmentally conscious tourism by 2025. With that in mind, we are pleased to add Rixos Bab Al Bahr to our portfolio of income-yielding hotel and hospitality assets.

“The acquisition is underpinned by the tremendous potential of the Emirate as a tourist hub, our robust asset management capabilities as well as the strong operating fundamentals and mature nature of the asset itself.”