The private family office 'SKH Family Office', registered in the Dubai International Financial Centre, announced yesterday the successful completion of the acquisition of 'The Cove Rotana' resort in the emirate of Ras Al Khaimah from 'Orascom Development Holding' following the fulfillment of all relevant contractual, financial, and regulatory requirements. According to a statement, the deal was executed through 'Cove Holdings Ltd.', a subsidiary of the SKH Family Office registered on the Abu Dhabi Securities Exchange. The statement indicates that this acquisition is part of a long-term strategic vision aimed at developing the SKH Family Office's investment portfolio in the luxury hospitality sector and enhancing the operational value of distinguished tourism assets, in line with the national directions of the UAE and the plans of the Ras Al Khaimah emirate to establish itself as a world-class tourist destination. The founder and chairman of the board of SKH Family Office, Sakr Kamal Hassan, stated: 'The completion of this acquisition marks a significant strategic milestone in the journey of (SKH Family Office) towards building and developing high-value hospitality assets in the United Arab Emirates,' noting that 'The Cove Rotana' resort is one of the distinguished assets due to its unique location, exceptional character, and promising growth potential. He added: 'Our vision is to elevate the resort to become a leading destination for family entertainment and tourism in the Ras Al Khaimah emirate, in line with the ambitious development plans of the emirate and the national tourism sector,' expressing his appreciation for all partners who contributed to the successful completion of the deal. It is worth mentioning that 'The Cove Rotana' resort is one of the most prominent beach resorts in the emirate, and it is expected that in the next phase, a well-considered development program will be implemented, focusing on enhancing the guest experience, modernizing facilities, and promoting concepts of sustainability and luxury hospitality in line with future tourism expectations in Ras Al Khaimah. In this context, 'Rotana' will continue to manage and operate the resort under a renewed hotel management agreement, ensuring the continuity of excellent operational performance, maintaining the highest standards of quality and service, and enhancing the competitive position of the resort in regional and international markets. It is noted that the 'SKH' private family office is a global private investment company committed to building long-term value and the strategic deployment of capital. The office focuses on building strategic and impactful investments in the hospitality, real estate, financial services, logistics, and technology sectors.
