Aldar Properties purchases Rixos Bab Al Bahr for $209.6 mn

18 Apr 2022 CW Team

RAK Hospitality has confirmed the sale of one of its hotel properties, the 715-key, all-inclusive Rixos Bab Al Bahr in Ras Al Khaimah, to Aldar Properties via its Aldar Investment for a total of $209.6 million.

According to media sources, as part of the deal, Aldar Investment has also gained development rights for an extra 2,50,000 sq ft of gross floor area for residential and commercial use.

Alison Grinnell, Chief Executive Officer of RAK Hospitality Holding, told the media that RAK Hospitality Holding, through its hotel portfolio subsidiary, is delivering on its development and diversification plan.

During the pandemic, Rixos Bab Al Bahr showed incredible resilience and emerged stronger with a unique ultra-all-inclusive offering.

Rixos Bab Al Bahr, which opened in 2014, has 715 rooms and offers visitors an ultra-all-inclusive experience that includes luxurious accommodations, a broad selection of upscale dining options, and a variety of recreational activities and entertainment.

Rixos Bab Al Bahr, located on Al Marjan Island, is a well-established staycation destination in Ras Al Khaimah, with high occupancy and development potential.

According to the RAK-based Integrated Hospitality firm, the sale demonstrates RAK Hospitality Holding's track record of producing high-value assets that are appealing to inbound investments from reputable investors.

Jassem Busaibe, Chief Executive Officer of Aldar Investment, said that Ras Al Khaimah continues to gain popularity as a tourism destination as international borders open and leisure travel returns.

As the Emirate implements its ambition to become the regional leader in ecologically responsible tourism, drawing more than 3 million annual tourists by 2030, we foresee more upside.

He said that they are delighted to add Rixos Bab Al Bahr to their portfolio of income-producing hotel and hospitality properties.

Image Source

Infrastructure Urban

16 Oct 2025

Shivraj Singh Chouhan inaugurates ICAR-IIMR admin block in Ludhiana

Union Agriculture Minister Shri Shivraj Singh Chouhan recently inaugurated the administrative building at the Indian Council of Agricultural Research – Indian Institute of Maize Research (ICAR-IIMR) in Ludhiana, Punjab. During the visit, he interacted with maize stakeholders, farmers, rural development scheme beneficiaries, and women self-help group (SHG) members. He said that under the leadership of Prime Minister Narendra Modi, the government’s key goals include boosting foodgrain production, reducing input costs, and improving farmers’ incomes. He highlighted the importance of div..

Google to Build Rs 10,000 Cr Data Centre in Visakhapatnam

In a major boost to India’s digital infrastructure, Google will establish a 1-GW hyperscale data centre and Artificial Intelligence (AI) hub in Visakhapatnam, Andhra Pradesh. The project, valued at Rs 100 billion, is expected to significantly contribute to the state’s economy and create more than 20,000 direct and indirect employment opportunities. Union Minister of State for External Affairs and Education, Dr Pemmasani Chandrasekhar, highlighted that this landmark investment by Google will help position Andhra Pradesh as a prominent digital hub under the “Swarandhra Pradesh” vision. ..

TCIL honoured with HR Excellence Award 2025

Telecommunications Consultants India Limited (TCIL), a Miniratna Schedule ‘A’ PSU under the Department of Telecommunications, has been honoured with the HR Excellence Award at the Fortune Leadership Awards 2025, held at Radisson Blu Plaza, Delhi. The accolade acknowledges TCIL’s outstanding HR practices promoting employee development, innovation, and inclusivity. The award was presented by Dr. Dinesh Upadhyay, Former Member, Ministry of AYUSH, and Shri M. S. Nethrapal, IRS, and received by Shri P. Suresh Babu, CGM (HR), in the presence of distinguished leaders from various sectors. Bet..