Aldar Properties completed the acquisition of Rixos Bab Al Bahr hotel from RAK Hospitality Holding for $210m.

Aldar Properties, a real estate development, management and investment company ,completed the acquisition of Rixos Bab Al Bahr hotel, a beach resort, from RAK Hospitality Holding, a hospitality asset owner and manager, for $210m. “The acquisition adds further scale to Aldar Investment’s growing hospitality and leisure portfolio and will bring its total investment in Ras Al Khaimah to 500m, including the earlier acquisition of Al Hamra Mall and additional development rights at both properties,” Aldar Investment.