Anantara The Palm Dubai: Is The Super-Luxury Resort Up For Sale?

Anantara The Palm Dubai

In The UAE, Hotel Real Estate Deals Are Once Again In Vogue.

Sources familiar with the matter suggest that Anantara the Palm Dubai, a prestigious super-luxury resort, is nearing a sale valued at approximately Dh1.1 billion ($280 million). The current owner, Seven Tides, is collaborating with Grant Thornton LLP to explore this potential transaction.

Renowned for its 400-meter private beach overlooking the Arabian Sea and a network of captivating waterways, Anantara boasts nearly 300 rooms and villas. While discussions are ongoing, the outcome of the negotiations remains uncertain.

This development takes place against the backdrop of Dubai’s thriving tourism sector. Which gained momentum as the city emerged as a safe haven during the pandemic and attracted a substantial influx of affluent expatriates and tourists. With an average hotel occupancy rate of around 83 percent during the year leading up to March, and an average daily rate of Dh783.8 ($213.45) in the first quarter, as reported by CBRE Group Inc., the demand for accommodations remains strong.

Taimur Khan, CBRE’s head of research, emphasized the rapid recovery of beach properties in the post-pandemic period, generating considerable interest among investors for the limited number of hotels available. With attractive valuations and a robust market, property owners perceive the current landscape as opportune for potential exits.

Furthermore, industry experts anticipate a further increase in visitor numbers, as Dubai has yet to reach its pre-2019 levels. The scarcity of top-tier beachfront hotels and limited development opportunities in this segment contribute to the attractiveness of investments in this space.

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