SKH Family Office, registered with the Dubai International Financial Centre (DIFC), has announced the successful completion of its acquisition of The Cove Rotana Resort in the northern emirate of Ras Al Khaimah from Orascom Development Holding, following the fulfilment of all contractual, financial, and regulatory requirements. The transaction was executed through Cove Holding Limited, a subsidiary of SKH Family Office registered with Abu Dhabi Global Market (ADGM).

This acquisition forms part of SKH Family Office’s long-term strategic vision to expand its investment portfolio in the luxury hospitality sector and to enhance the operational value of premium tourism assets, in alignment with the UAE’s national priorities and Ras Al Khaimah’s plans to further establish itself as a leading global tourism destination.

The Cove Rotana Resort is one of RAK’s most prominent beachfront resorts and is expected to undergo a carefully planned development program in the coming phase. 

The program will focus on elevating the guest experience, upgrading facilities, and strengthening sustainability and refined hospitality concepts, in line with the future outlook of tourism in Ras Al Khaimah.

Following this strategic acquisition, Rotana said it will continue to manage and operate the resort under a renewed hotel management agreement, ensuring continuity of strong operational performance, adherence to the highest standards of quality and service, and further enhancement of the resort’s competitive positioning in regional and international markets.

This acquisition underscores SKH Family Office’s commitment to supporting the economic and tourism growth of Ras Al Khaimah and to contributing meaningfully to its ambitious vision of developing the hospitality sector as a key driver of sustainable growth in the United Arab Emirates.

Saqr Kamal Hassan, the Founder & Chairman of SKH Family Office, said: "The completion of this acquisition represents an important strategic milestone in SKH Family Office’s journey to build and develop high-value hospitality assets in the UAE. The Cove Rotana Resort is a distinguished asset, offering a unique location, exceptional character, and promising growth potential."

"Our vision is to elevate the resort into a leading destination for leisure and family tourism experiences in the emirate of Ras Al Khaimah, in line with its ambitious development plans and the national tourism strategy," he noted Hassan.

"We highly value the cooperation of all partners who contributed to the successful completion of this transaction," he added.-TradeArabia News Service