Master developer Nakheel and Spain’s Riu Hotels & Resorts have signed the contract with Bin Ladin Contracting Group, which was chosen from a shortlist of 10 contractors who bid for the project. Construction is due to be completed in two years.
Under the joint venture, Nakheel and Riu Hotels & Resorts will develop a family-orientated, all-inclusive resort on a beachfront plot at Nakheel’s new, 15.3km2 Deira Islands coastal development. The resort - Riu’s first in the Middle East - will be one of Dubai’s biggest in terms of hotel rooms.
Nakheel chairman Ali Rashid Lootah said: “Today marks a key milestone for the Nakheel Hospitality, Deira Islands and Dubai. Our first international joint venture will bring a new dimension to Dubai’s hospitality offering by providing a new concept in accommodation and attracting a new market segment to the emirate.”
The joint venture is one of 16 projects in Nakheel’s AED5bn hospitality expansion programme, under which some 6,000 new rooms and hotel apartments will be delivered across Dubai in line with the government of Dubai’s tourism vision.
Deira Islands, which is expected to have a population of 250,000 and to create 80,000 jobs, will add 40km of coastline to Dubai.
Nakheel has now awarded almost AED8bn worth of infrastructure and construction contracts at Deira Islands, with more on the way.