Aldar expands its portfolio with acquisition of luxury islands

Aldar expands its portfolio with acquisition of luxury islands

Transaction includes:

- One-of-a-kind, exclusive, and luxury beachfront hotel, Nurai Island Resort

- Two new islands to be located northeast of Nurai Island

Abu Dhabi: Aldar Properties PJSC (“Aldar”) has added a complementary luxury asset to its hospitality portfolio with the acquisition of Nurai Island Resort, as well as two additional new islands within the Abu Dhabi archipelago that are intended for residential development.

The transaction includes Nurai Island’s one-of-a-kind and exclusive beachfront hotel, Nurai Island Resort, where Aldar will undertake a refurbishment plan and extend the hospitality and F&B offering. The acquisition also includes two new islands envisioned to be developed with high-end luxury beachfront villas.

The acquisition allows Aldar to tap into an operational luxury offering that is highly attractive to select clientele. It represents the company’s first beachfront hospitality asset in Abu Dhabi and its second in the UAE – following the acquisition of the 715-key ultra-all-inclusive Rixos Bab Al Bahr in Ras Al Khaimah adding considerable weight and diversification to its hotel and hospitality portfolio.

Jassem Busaibe, Chief Executive Officer at Aldar Investment, said: “Nurai Island Resort adds a new dimension to our hospitality portfolio, catering to local and international visitors seeking a world class ultra-luxury experience. The multi-faceted element of the