Master developer Nakheel and Spain’s RIU Hotels & Resorts have signed a contract worth USD 104.8 for the construction of their 800-room, joint venture beachfront resort and Water Park at Deira Islands in Dubai.
Set for delivery in 2019, the resort, which has a total investment value of USD 1824.4 million, will be built by Bin Ladin Contracting Group LLC Dubai, who was chosen from a shortlist of 10 contractors who bid for the project. Construction will be completed in two years.
Nakheel has now awarded almost USD 2 billion worth of infrastructure and construction contracts at Deira Islands, with more on the way.
Under the joint venture, Nakheel and RIU Hotels & Resorts will deliver a new hospitality concept for Dubai, offering mid-scale, family-orientated, all-inclusive beachfront accommodation. 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 almost 100 hotels, with around 45,000 rooms between them, in 19 countries. Together, these welcome over four million guests a year and provide jobs for nearly 27,000 people. RIU is one of the most popular hotel chains in the Caribbean and the second largest in Spain in terms of revenue.
The joint venture is one of 16 projects in Nakheel’s USD 1.4 billion hospitality expansion program, 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.Add to Favorites