ADX-listed Abu Dhabi National Hotels (ADNH) has awarded a major construction contract worth AED 2.2 billion for its Nasim Al Bahr Residences, A Luxury Collection Residence, development on Al Marjan Island in Ras Al Khaimah.
According to an official company disclosure, the main construction works contract has been awarded to Al Hamad Building Contracting Co. LLC, marking a significant milestone in the development of the luxury beachfront hospitality and residential project.
The project will comprise a luxury beach hotel and resort featuring 495 guestrooms, including 29 hotel villas, alongside 447 branded residential units.
The hotel and resort will operate under The Luxury Collection brand, while the residential component will be developed as The Luxury Collection branded residences.
The development forms part of ADNH’s expansion into the luxury branded residential sector in the UAE, complementing its established hospitality operations.
ADNH confirmed that the piling phase of the project has already been completed, allowing the development to progress towards its main construction works phase.
The award of the AED 2.2 billion contract represents a major step in advancing the project’s construction following the completion of its initial groundwork.
Located on Al Marjan Island in Ras Al Khaimah, the development will combine luxury beachfront hospitality facilities with branded residential accommodation.
The hotel and resort component will feature 495 guestrooms in total, with the 29 hotel villas included within that figure.
In addition, the project will introduce 447 branded residences, expanding ADNH’s presence in the luxury residential hospitality segment.
The company stated that the project represents its entry into the luxury branded residences development sector in the UAE, building on more than 50 years of experience in the hospitality industry.
The development is expected to strengthen ADNH’s portfolio by combining hotel and resort operations with luxury residential offerings under an internationally recognised hospitality brand.
According to the disclosure, the anticipated completion date for the project is the fourth quarter of 2028.
The announcement confirms the main contractor, contract value, project components and expected completion period, but does not specify the development’s total investment cost or its projected financial contribution to ADNH.
The contract award marks a significant construction milestone for ADNH’s Al Marjan Island development as the company continues expanding its hospitality and luxury branded residential portfolio in the UAE.
Source: Abu Dhabi National Hotels (ADNH)
Disclaimer: This article is for informational purposes only and should not be construed as investment, financial, or legal advice.
