Dubai, United Arab Emirates, 30 October 2025: SKH Private Family Office and Rotana have announced the AED 500 million acquisition and redevelopment of The Cove Rotana Resort in Ras Al Khaimah. Under the agreement, SKH Private Family Office will acquire and invest in the comprehensive transformation of the iconic property, while Rotana will re-assume full management and operations for a further 15 years starting 1 December 2025. The collaboration marks a new era for one of the emirate’s most renowned hospitality landmarks and reflects both parties’ confidence in the UAE’s thriving tourism and investment landscape.
The agreement was formalised during an official signing ceremony between Mr Saqr Kamal Hasan, Founder and Chairman of SKH Private Family Office, and Mr Makram El Zyr, Corporate Vice President of Development of Rotana, in the presence of distinguished industry leaders and stakeholders.
Facilitated and arranged by Rasmala Investment Bank, acting as financial advisor, the renewed partnership underscores SKH Private Family Office’s commitment to advancing world-class hospitality projects in the UAE.
Rotana will reassume full management and take direct responsibility for the property’s operations, commercial performance, and guest experience as it undergoes a comprehensive transformation. The move reinforces Rotana’s operational leadership and long-standing partnerships with owners across the UAE, reflecting the company’s focus on efficiency, brand consistency, and delivering exceptional value to guests and stakeholders alike.
Philip Barnes, CEO of Rotana, said: “The Cove Rotana Resort has long been one of our most beloved properties, and we are proud to lead it into this exciting new chapter. Working alongside SKH Private Family Office, we’re combining vision with experience to shape a resort that truly reflects the spirit of Ras Al Khaimah and the Rotana brand. This partnership is about more than management—it’s about delivering the best possible experience for our guests and ensuring every stay reflects the warmth, quality, and care that define Rotana.”
Mr. Saqr Kamal Hasan, Founder and Chairman of SKH Private Family Office, said: “At SKH Private Family Office, our vision is to redefine the hospitality landscape through investments that create lasting economic and social value. The signing of our management agreement with Rotana reflects a shared commitment to excellence, sustainability, and regional authenticity. The transformation of The Cove Rotana Resort represents our ambition to deliver world-class guest experience in alignment with the United Arab Emirates’ vision for responsible investment and tourism leadership. We are confident that this next phase will reinforce the resort’s position as a flagship destination in the region, driven by focused strategy and long-term impact.”
The investment of over AED 500 million includes the acquisition of the property, and full renovation of guest rooms, villas, restaurants, and leisure facilities. The masterplan also introduces new design upgrades to the resort’s architecture and facades, the addition of development of towers with panoramic sea views, and the adoption of advanced sustainability standards. The development aligns closely with Ras Al Khaimah’s tourism strategy and national aspirations for sustainable hospitality leadership.
With Ras Al Khaimah recording more than 1.3 million visitors in 2024 and targeting 3.5 million by 2030, the resort is well-positioned to support the emirate’s tourism growth trajectory. The collaboration between SKH and Rotana reinforces investor confidence in the UAE’s tourism infrastructure and highlights the country’s enabling environment for visionary developments.
