The hotel operator expects to manage 100 hotel apartments and 24 villas as part of the Jannah Resort and Villas, with an opening date mooted for December. The development is located in Rak Properties’ seafront Mina Al Arab project.
“Ras Al Khaimah is close to Dubai, and we can have packages for people staying in Dubai as well as Ras Al Khaimah: it has an airport, and today it is not an overcrowded or oversupplied market,” said Nehme Darwiche, the chief executive of Jannah Hotels and Resorts. “For an investor, now is the perfect time to penetrate the market.”
At the end of June, Ras Al Khaimah had 5,332 hotel rooms across 21 properties, with a pipeline of 16 properties accounting for 4,553 rooms until 2022, according to data and analytics company STR Global.
In 2020 the company expects to operate a mixed-use high-rise tower in Sharjah featuring retail space, offices, hotel apartments and a hotel, which will be owned by its owner, Abu Dhabi-based Bin Rubayeh Group.