Nakheel, RIU sign $105m contract for resort on Deira Islands in Dubai

WCN Editorial Team 5 Jan 2018 MIDDLE EAST BUSINESS

Developer Nakheel of the UAE and RIU Hotels & Resorts of Spain have signed a contract worth AED385 million ($104.81m) for the construction of 800-room, joint venture beachfront resort and water park at Deira Islands in Dubai.

The resort, scheduled to be opened in 2019, has a total investment value of AED670m and will be built by Bin Ladin Contracting Group LLC Dubai.

The construction will be completed in two years.

Nakheel has so far awarded infrastructure and construction contracts worth AED8bn at Deira Islands.

Under the joint venture, Nakheel and RIU Hotels & Resorts will offer mid-scale, family-orientated, all-inclusive beachfront accommodation.

Located on a beachfront plot at Nakheel’s new, 15.3 sq km Deira Islands coastal city, the resort will include seven food and beverage outlets, three swimming pools, a fitness complex, children’s club and waterpark.

The joint venture is one of 16 projects in Nakheel’s AED5bn hospitality expansion programme.

Under the expansion programme, 6,000 new rooms and hotel apartments will be delivered across Dubai in line with the Government of Dubai’s tourism vision.

The resort, RIU’s first in the Middle East, will be one of Dubai’s biggest in terms of hotel rooms.

RIU Hotels & Resorts has 100 hotels with around 45,000 rooms in 19 countries, accommodating more than four million guests a year.

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.”

RIU’s financial director Joan Trian said: “Today we are a step closer to the opening of our first hotel in Dubai. We are sure that our loyal clients will want to explore the new offerings of the city with us, and we look forward to attracting new customers to our joint venture hotel, too.”

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