Hungarian luxury hotel to be built in the United Arab Emirates

For the first time, a Hungarian company can buy land and build a hotel in the United Arab Emirates. The Hungarian-owned hotel will be located on the artificial, man-made Al Marjan Island. Construction of PRESTON’s 255-room hotel complex will start next year, Index reports.

A Czech-Hungarian hotel in the United Arab Emirates

Czech-Hungarian PRESTON is financing the Sun Beach Resort project from its own capital, the sale of corporate bonds issued in the Czech Republic and the sale of hotel rooms. The PRESTON company was founded by Czech businessman Filip Navrátil and his Hungarian partner Bálint Hegyvári, Index writes.

The Hungarian-owned luxury hotel is to be built in Ras Al Khaimah, one of the fastest growing tourist centres in the Emirates. PRESTON purchased the approximately 10,000 square metres of land on Al Marjan Island for around USD 8.5 million, while the total cost of the project is around USD 50 million.

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The construction will start next year

Construction of the Sun Beach Resort project will start in early 2023 and is expected to take just one year. This is mainly due to the modular construction solution, Index reports. The building’s elements will be prefabricated in Latvia beforehand, so that on site, the elements are just assembled on top of each other.

The hotel is operated by Earth Hotels. It is aimed primarily at the self-sustaining and eco-centric generation, the so-called avocado generation (i.e. young travellers born after the 1990s, digital nomads). The complex is fully tailored to the needs of today’s digital generation.