Nakheel inks LOI for new hotel at Ibn Battuta Mallby Ashleigh McGinley on Feb 24, 2016
Nakheel has signed a Letter of Intent (LOI) for a management agreement with Minor Hotel Group for a new, 372-room hotel at Ibn Battuta Mall.
Under the proposed agreement, the new hotel in Dubai, will be managed by AVANI Hotels & Resorts brand.
The LOI was signed by Nakheel Chairman Ali Rashid Lootah and William Heinecke, founder, chairman and CEO of Minor International - the parent company of Minor Hotel Group.
The 14-storey hotel will become one of two Nakheel hotels at Ibn Battuta and one of 10 in the developer's overall Dubai hotel portfolio.
The new development, which will also have direct access to the mall and a link to the Dubai Metro, will feature a rooftop pool, an all-day dining restaurant and coffee shop.
In September last year, Nakheel and Minor Hotel Group announced a a planned joint venture for a 500-room AVANI beachfront resort at Deira Islands - Nakheel's 15.3 sq km city in Dubai.
Nakheel chairman Ali Rashid Lootah, said: "We are delighted to further develop our collaboration with Minor Hotel Group with an AVANI hotel at our expanding Ibn Battuta Mall, which in itself is an increasingly popular destination for Dubai's growing number of tourists."
Dillip Rajakarier, CEO of Minor Hotel Group, said: "Following the recent announcement about our strategic partnership with Nakheel and the development of the UAE's first AVANI at Deira Islands, we are thrilled that a Letter of Intent has already been signed for the second AVANI in the UAE.
"The location at Ibn Battuta Mall, one of the world's largest themed malls in one of the city's fastest growing areas, is perfect for guests who enjoy AVANI's relaxed comfort and contemporary style."
AVANI Ibn Battuta forms part of Nakheel's 4,700,000 sq ft expansion to Ibn Battuta Mall, which will create another 766,000 sq ft of shopping, dining and entertainment space.
- How was Dubai's Burj Al Arab Terrace constructed?
- Ajman: 12 real estate projects to complete in 2016
- France approves 1,225kmph inter-city hyperloop
- Saudi-Canadian PPP to build $133m hospital
- Bahrain needs $795m to complete stalled projects
- Designer picked for $1bn Bahrain Airport interiors
- Aldar's Abu Dhabi residential projects on track
- Saudi: $122bn worth of projects ongoing in Riyadh
- Krantz air outlets picked for Louvre Abu Dhabi
- Qatar Rail unveils Doha Metro, Lusail Tram designs