Aldar Properties PJSC has added to its growing portfolio of hospitality and leisure assets with the acquisition of the 715-key all-inclusive Rixos Bab Al Bahr beach property in Ras Al Khaimah for a total consideration of AED 770 million. 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 AED 1.5 billion, including the earlier acquisition of Al Hamra Mall and additional development rights at both properties. As part of the Rixos Bab Al Bahr transaction, Aldar Investment has secured development rights for an additional 250,000 sq.

ft of gross floor area (GFA) for residential and commercial use.