Aldar acquires Nurai Island Resort in Abu Dhabi

Abu Dhabi - Mubasher: Aldar Properties has acquired Nurai Island Resort and two additional new islands in the Abu Dhabi archipelago to expand its hospitality portfolio.

As part of the transaction, Aldar will add Nurai Island’s beachfront hotel, Nurai Island, to its portfolio, according to a recent press release.

Meanwhile, the property developer will carry out a refurbishment plan and extend the hospitality and the food and beverage offering at Nurai Island Resort.

The acquisition is the company’s first beachfront hospitality asset in Abu Dhabi and second in the UAE.

The CEO of Aldar Investment, Jassem Busaibe, said: "The multi-faceted element of the deal provides us with significant room for both development potential and operational improvements on an existing and ready-to-perform luxury asset."

Meanwhile, the CEO at Aldar Development, Jonathan Emery, commented: "Located just off the coast of Abu Dhabi, the unique nature of the islands will attract holiday home buyers as well as buy-to-let investors, who will command a premium for their properties within a niche section of the short-term letting market."

Mubasher Contribution Time: 03-Jul-2022 09:27 (GMT)
Mubasher Last Update Time: 03-Jul-2022 09:27 (GMT)