SKH Private Family Office, Rotana invest US$136.7M in The Cove Rotana Resort redevelopment

UAE – SKH Private Family Office and Rotana have announced a AED 500 million (US$136.7 million) acquisition and redevelopment plan for The Cove Rotana Resort in Ras Al Khaimah.

Under the agreement, SKH Private Family Office will acquire the property and lead its comprehensive transformation, with Rotana resuming full management and operations for 15 years starting 1 December 2025.

This partnership reflects confidence in the UAE’s thriving tourism and investment sectors.

The official signing was held between Saqr Kamal Hasan, Founder and Chairman of SKH Private Family Office, and Makram El Zyr, Corporate Vice President of Development at Rotana, witnessed by industry leaders.

Rasmala Investment Bank facilitated the agreement as financial advisor.

Rotana will oversee the resort’s operations, commercial performance, and guest experience during the redevelopment.

Philip Barnes, CEO of Rotana, stated that combining SKH’s investment vision with Rotana’s operational expertise offers a promising future for the iconic resort, which holds a special place in Ras Al Khaimah’s hospitality landscape.

Hasan expressed the family office’s aim to redefine hospitality through sustainable investments, emphasizing regional authenticity and alignment with the UAE’s vision for responsible tourism leadership.

The redevelopment masterplan includes full renovation of guest rooms, villas, restaurants, and leisure facilities. It introduces design enhancements, new towers with panoramic sea views, and adoption of advanced sustainability standards.

Ras Al Khaimah is targeting 3.5 million visitors by 2030, up from over 1.3 million in 2024. The resort will be pivotal to supporting this tourism growth and reinforcing Ras Al Khaimah’s position as a key destination in the UAE.

This substantial investment in The Cove Rotana Resort signifies optimism in the emirate’s enabling environment and sets the stage for a new chapter of growth and luxury hospitality excellence.

Rotana is aggressively expanding across the UAE and Middle East with a US$750 million investment program, opening several new properties including in Abu Dhabi and Riyadh.

This expansion boosts brand presence with an additional 9,049 rooms planned by 2026, bringing total keys to over 30,000.

Rotana’s portfolio growth aligns with government tourism initiatives like UAE Tourism Strategy 2031, aimed at attracting AED 450 billion in tourism investments, reinforcing its position as a hospitality leader delivering innovative and sustainable guest experiences.

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