Aldar acquires luxury islands in Abu Dhabi in high-end real estate push

Abu Dhabi-based real estate developer Aldar Properties has acquired a high-end island resort in the UAE capital, as well as two luxury islands intended for residential development.

The company said it acquired Nurai Island, a private island just a few kilometres north of Saadiyat only accessible by sea. It is home to the exclusive beachfront hotel Nurai Island Resort, which Aldar plans to refurbish.

“Nurai Island Resort adds a new dimension to our hospitality portfolio, catering to local and international visitors seeking a world class ultra-luxury experience,” Jassem Busaibe, chief executive officer at Aldar Investment, said in a statement.

The move follows Aldar’s earlier acquisition of Rixos Bab Al Bahr in Ras Al Khaimah, another luxury asset.

Jassem Busaibe, chief executive officer at Aldar Investment

Aside from Nurai island, Aldar also acquired two other islands, where it plans to develop high-end luxury beachfront villas, it said.

“Located just off the coast of Abu Dhabi, the unique nature of the islands will attract holiday home buyers as well as buy to let investors, who will command a premium for their properties within a niche section of the short-term letting market,” Aldar Development’s chief executive officer Jonathan Emery said.

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