Master developer Nakheel and Thai hotel group Centara Hotels & Resorts on Monday reached a key milestone on their 600-room beachfront resort and waterpark at Dubai’s Deira Islands.
The companies announced in a statement the official formation of the joint venture company and the signing of a management agreement.
The joint venture, cemented by Nakheel chairman Ali Rashid Lootah and Centara chairman Suthikiati Chirathivat, will deliver a family-centric lifestyle destination at Deira Islands, Nakheel’s new 15.3 sq km waterfront city.
The resort will also be managed by Centara, whose portfolio already includes over 14,000 room keys across 67 hotels and resorts in Asia, Indian Ocean and the Middle East.
Set to open in 2020, the resort is the first Centara establishment in the UAE and will cover an area of almost 300,000 sq ft. Features will include a waterpark, multiple restaurants including alfresco rooftop dining options, kids’ club, spa and fitness centre, and business facilities.
Recent enhancements to the hotel’s design have added 50 rooms to the original plan, bringing the total number of keys to 600.
Nakheel chairman Ali Rashid Lootah said: “This strategic joint venture underlines our commitment to bringing new hospitality concepts to Dubai in line with the government’s tourism vision. Today’s crucial milestone allows us to move forward with the construction and delivery of this exciting new resort, which will undoubtedly be one of Dubai’s most sought-after destinations for travellers the world over.”
Nakheel’s partnership with Centara is the developer’s second international joint venture at Deira Islands. Work on the first, an 800-room AED670 million beachfront resort with Spain’s RIU Hotels & Resorts, is already underway with construction proposals currently being assessed.
More partnerships with global hospitality firms are being explored, Nakheel said.
Deira Islands, where Nakheel has already invested over AED7.5 billion in infrastructure and construction contracts, will add 40km, including 21km of beach, to Dubai’s coastline.
The coastal city, which is expected to have a population of 250,000 and to create 80,000 jobs, will feature hundreds of hotels, residences and retail and leisure attractions.
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