Nakheel: Half of Deira Islands hotel plots sold

Nakheel is claiming it has sold half the small plots for hotel and hotel apartments as part of its Deira Islands project in Dubai, after a strong response from investors.

The developer released the first phase of plot for the man-made islands development at the end of March.

Ranging from 50,000 to 670,000 square feet, these plots are located on two of the islands. Once completed, the entire project will add over 23,000 hotel keys and 31,000 apartment keys. The developer plans to build five hotels of its own on the islands.

Speaking to Khaleej Times, Nakheel chairman Ali Rashid Lootah said half the initial plots had sold. He also said the company was providing an opportunity for more three- and four-star waterfront hotels.

The company has also revealed plans for Deira Islands Mall, a 620,000 square metre retail, dining and entertainment hub in the development.

It has awarded a contract for nearly AED40 million (US $10.9 million) to RSP Architects, Planners and Engineers as the design and supervision consultant for the mall, which will have over 200,000 sqm of leasable space, hundreds of shops, cinemas and a wide variety of cafes and restaurants.