Abu Dhabi – Mubasher: Aldar Properties is contributing to Abu Dhabi’s growth as a key tourism and leisure destination after reinforcing its hospitality portfolio in partnership with global luxury brands.
Aldar has partnered with Hilton to operate the Eastern Mangroves hotel under the iconic Waldorf Astoria brand, according to a press release.
The UAE group injected AED 1.50 billion investment to elevate its hotel assets into luxury resort-style properties amid increasing demand for premium hospitality experiences in Abu Dhabi.
The Yas Plaza Hotels concept will be reimagined under the IHG brand, marking the largest Vignette Collection resort in the world.
In 2023, the Emirate attracted 27% more hotel guests than in the previous year, with international guest arrivals increasing by 54%. This came within the framework of the Department of Culture and Tourism - Abu Dhabi’s strategy to boost visitor numbers to 39.30 million by 2030.
Talal Al Dhiyebi, Group CEO of Aldar, commented: “The UAE continues to enhance its appeal as a premier international leisure and tourism destination, and the government has a clear vision to further develop tourism infrastructure and attractions.”
“In this context, we see a tremendous opportunity to enhance and reposition our hotel portfolio to meet expected demand in the luxury segment, while maximizing the revenue potential of each asset,” Al Dhiyebi continued.
Aldar’s latest investment in its hospitality portfolio follows its previously announced plans to develop Nobu Hotel, which is set to be unveiled on Saadiyat Island in 2027.
In the six-month period that ended on 30 June 2024, the ADX-listed company witnessed 57% year-on-year (YoY) higher net profits at AED 3.32 billion, compared to AED 2.11 billion.
