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Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

Aldar acquires Doubletree

DoubTree, Marjan Island. (Pic Hilton)
  • The property, which benefits from above-market average occupancy levels, is located on the first section of Al Marjan Island, a growing tourism hub.
  • Aldar now has a total of over 4,250 keys, and brings Aldar’s total investment in Ras Al Khaimah to AED2 billion.

Aldar Properties, through its Aldar Investment business, has announced the acquisition of the beachfront resort, DoubleTree by Hilton Resort & Spa Marjan Island, and an adjacent beachfront development plot for AED810 million ($220 million).

Aldar said the acquisition adds considerable weight to the its hospitality and leisure portfolio, which now has a total of over 4,250 keys, and brings Aldar’s total investment in Ras Al Khaimah to AED2 billion, complementing the recent acquisitions of Al Hamra Mall and Rixos Bab Al Bahr.

Speaking on the occasion, Jassem Busaibe, Chief Executive Officer at Aldar Investment, said, “The mature nature of this five-star asset complements our existing suite of properties in Ras Al Khaimah which continues to represent a robust hospitality and tourism market with strong growth potential in line with the Emirate’s aim to attract 3 million visitors annually by 2025.”

The property, which benefits from above-market average occupancy levels, is located on the first section of Al Marjan Island, a growing tourism hub and staycation destination in Ras Al Khaimah, Aldar said.