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The first Hungarian co-owned hotel in the United Arab Emirates is to be built on the artificial Al Marjan Island in the Ras Al Khaimah Emirate. The resort will cost around HUF 20 billion (EUR 49 million) to build, and is expected to be open for bookings next summer.
The project is being implemented by the Czech-Hungarian company Preston. The construction of the hotel, called Sun Beach Resort, will be financed from the company’s own capital, the sale of corporate bonds issued in the Czech Republic, and the sale of hotel rooms.
Although construction of the resort will only start at the beginning of next year, it is expected to last only one year, with bookings to be open from summer.
The building elements are prefabricated in Latvia and will simply be assembled on site. With this solution, no special civil engineering works will be required.
The target audience for the investments is the so-called avocado generation, i.e. young travelers born around the 1990s. As a result, the hotel will be fully tailored to the needs of the digital generation, meaning that guests will be able to do everything from an app, and see how much water and electricity they used during their stay.
Ras Al Khaimah is one of the fastest-growing tourist resorts in the United Arab Emirates, thanks in part to its good location: the mountains and the coast are less than an hour away. The world’s leading hotel chains, such as Hilton and Rixos, are building one hotel after another, and the US-based Wynn Resorts will open the country’s first casino here.
Featured photo via Pexels