Abu Dhabi National Hotels to develop RAK hotel

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…