SDH Capital, a family office owned by Malta-based db Group, has announced the opening of a new office in Ras Al Khaimah (RAK), in the United Arab Emirates.
Based in Mayfair, London, the family office was set up in 2023 to identify new international business opportunities and manage the Group’s international interests.
It has now opened up a new office in the UAE’s northernmost emirate, where the DB Group plans to develop a mixed-use project along with the Sovereign Wealth Fund of RAK at Marjan beach, adjacent to Al Marjan Island.
The project consists of a five-star Hard Rock hotel and branded residences together with several restaurants and beach clubs, and is slated to open in 2028.
SDH said that RAK has emerged as one of the UAE’s most compelling destinations for business and tourism, driven by a pro-investment regulatory environment, major infrastructure upgrades and a clear long-term vision for sustainable growth.
“This momentum has been further reinforced by the emirate’s move to position itself at the forefront of new tourism segments, including the awarding of the region’s first commercial gaming licenses,” it added.
Ras Al Khaimah (stock image)
The RAK office will serve as a strategic base for SDH Capital’s activities in the Middle East, supporting investment structuring, partnership development and the management of international interests across hospitality, real estate and related sectors.
“Establishing a presence in the UAE is a natural progression for SDH Capital,” SDH Capital Managing Director Nicholas Portelli said.
“Our role is to spearhead the Group’s international ambitions while building long-term partnerships like that with the Investment & Development Office in RAK, in markets that share a clear vision for sustainable growth.”
db Group CEO Robert Debono said that Ras Al Khaimah represents the next strategic step in the Group’s international group, following its establishment in London and an overwhelming response to its recent €60 million bond issue.
“RAK’s clarity of vision, openness to long-term investment and ambition to develop high-quality tourism and lifestyle destinations make it a natural partner for projects such as the Hard Rock Hotel & Residences,” he said.
The RAK office is managed by Jonas Vetter, who has been appointed as VP of investments, based in RAK and is supported by its London and Malta offices.
The announcement of its new family office comes as the db Group’s development project in St George’s Bay, which also includes a Hard Rock Hotel, nears completion.
