Nakheel signs $135m beachfront resort deal
Nakheel’s joint venture with Centara is the latest development in the company’s expansion into Dubai’s hospitality sector and its second international joint venture for Deira Islands
Dubai-based developer Nakheel and Thai hotel group, Centara Hotels and Resorts have signed a joint venture agreement to build a $135m beachfront resort and waterpark on Dubai’s Deira Island project.
The agreement was signed in Bangkok by Nakheel Chairman, Ali Rashid Lootah, and Centara Chairman, Suthikiati Chirathivat, as the two companies aim to deliver an upscale resort on a prime stretch of beach on Deira Islands, according to WAM.
Nakheel’s joint venture with Centara is the latest development in the company’s expansion into Dubai’s hospitality sector and its second international joint venture for Deira Islands.
The first Centara establishment in the UAE, the new resort will cover an area of 27,490sqm and will feature a waterpark, dining facilities, business centre, children's club, spa and fitness centre.
The resort will have a soft opening in 2019 and its grand opening in 2020.
Nakheel Chairman, Ali Rashid Lootah, said: "Our joint venture with Centara cements our commitment to partnering with successful, reputable international hotel brands to bring new tourism concepts to Dubai in line with the Government of Dubai’s tourism vision.”
Suthikiati Chirathivat, Chairman of Centara Hotels and Resorts, said: “This partnership is a ground-breaking move for Centara as we continue to extend our upscale resort portfolio internationally.”
“This is Centara’s first hotel in Dubai, and the UAE, and represents our arrival in a key gateway city in the Middle East.”