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Abu Dhabi-listed company to build hotel on Al Marjan Island

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Ras Al Khaimah Tourism Development Authority CEO has plans to add 4,617 new hotel rooms over the next five years.

Abu Dhabi National Hotels will acquire a land plot in Ras Al Khaimah’s Al Marjan Island to develop a hotel, the company said in a statement to Abu Dhabi Securities Exchange.

The announcement comes as Ras Al Khaimah Tourism Development Authority (RAKTDA) aims to add 4,617 new hotel rooms over the next five years, a rise of 56.8 percent.

The emirate currently has more than 50 hotels, including 10 five-star hotels, nine four-star hotels, seven hotel apartments, and 24 other accredited accommodations, WAM, the UAE state-owned news agency, reported in August.

This includes 8,130 hotel rooms, and the authority aims to add another 4,617 rooms by 2027, and encourage the construction of several new hotels, including Marriott, Anantara, Westin, Rove and Sofitel hotels.

According to real estate consultancy firm Colliers, occupancy levels in Ras Al Khaimah in the second quarter of 2022 increased by 19 percentage points compared to Q2 2021.

A total of 696 new rooms will be opened in the northern emirate by the end of 2022, the consultancy said.

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