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Abu Dhabi National Hotels (ADNH) has acquired land on Ras Al Khaimah’s Marjan Island to develop a hotel.
No sale price was mentioned for the acquisition, which was posted to Abu Dhabi Securities Exchange (ADX) today (Thursday).
ADNH is the second ADX-listed company to announce real estate acquisitions in RAK this year, after real estate company Aldar announced it would acquire the DoubleTree by Hilton, also on Marjan Island, following its earlier acquisitions of Al Hamra Mall and the Rixos Bab Al Bahr hotel.
(Writing by Imogen Lillywhite; editing by Seban Scaria)
