Dubai-based Conglomerate SKH Invests $136M in Ras Al Khaimah's Stunning Cove Resort

A Dubai-based private family office has acquired the iconic Al Cove Rotana Resort in Ras Al Khaimah for nearly 500 million dirhams, with Rotana returning as the property's operator for the next 15 years. The deal signals strong investor confidence in the UAE's booming tourism sector and marks a new chapter for one of the country's most recognizable hospitality landmarks.

The SKH Private Family Office and Rotana signed the management agreement during the Future of Hospitality Summit in Dubai. Saqr Kamal Hassan, founder and chairman of SKH, partnered with Rotana's development team to bring the resort under new ownership while maintaining its established brand identity.

Starting December 1, 2025, Rotana will handle all operations, guest services, and commercial performance during what both companies describe as a comprehensive transformation period. This arrangement builds on Rotana's existing relationships with property owners across the UAE and reinforces the company's operational expertise in the region.

The investment goes well beyond the acquisition price. SKH plans extensive renovations covering guest rooms, villas, restaurants, and recreational facilities. The master plan includes architectural improvements and potential future development of waterfront towers with panoramic sea views. The project also emphasizes advanced sustainability standards, aligning with Ras Al Khaimah's tourism strategy and national goals for responsible hospitality leadership.

Philip Barnes, Rotana's CEO, called Al Cove Rotana "one of our flagship destinations and closest to our hearts." He emphasized that the partnership goes beyond simple management, focusing on delivering exceptional guest experiences while reflecting both Ras Al Khaimah's character and Rotana's brand values.

For investors and hospitality watchers, this deal represents more than just another property transaction. The substantial investment demonstrates how private capital continues flowing into UAE tourism infrastructure, particularly in northern emirates like Ras Al Khaimah that are positioning themselves as alternatives to Dubai and Abu Dhabi's saturated markets.

Hassan positioned the investment as part of SKH's broader vision to create economic and social value through hospitality projects. The 15-year management term provides stability for both operators and guests while allowing time for the planned improvements to generate returns.

The timing appears strategic. UAE tourism has rebounded strongly post-pandemic, with Ras Al Khaimah specifically targeting adventure tourism and nature-based experiences to differentiate itself from neighboring emirates. Al Cove Rotana's beachfront location and established reputation provide a solid foundation for capturing this growing market segment.