Nakheel, RIU sign $105m deal for Deira Islands resort project
UAE-based developer Nakheel and Spain’s RIU Hotels & Resorts have signed a $105m (AED385m) contract for the construction of an 800-room, beachfront resort and water park project at Deira Islands in Dubai
UAE-based developer Nakheel and Spain’s RIU Hotels & Resorts have signed a $105m (AED385m) contract for the construction of an 800-room, beachfront resort and water park project at Deira Islands in Dubai.
The joint venture project will be built with a total investment value of $182m (AED670m) and is set for delivery in 2019. Binladin Contracting Group LLC Dubai was chosen as the main contractor.
Nakheel and RIU Hotels & Resorts will offer a mid-scale and family-orientated, beachfront accommodation. The resort, RIU’s first in the Middle East, will be one of Dubai’s biggest in terms of hotel rooms.
The resort will feature seven food and beverage outlets, three swimming pools, a fitness complex, children’s club and Water Park.
RIU Hotels & Resorts has almost 100 hotels, with around 45,000 rooms in 19 countries.
Nakheel chairman, Ali Rashid Lootah, said: “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 RIU resort at Deira Islands is a shining example of our commitment to delivering a diverse range of tourism-related projects that will help the government achieve its 2020 tourism targets, and I look forward to seeing this exciting resort come to fruition.”
The joint venture is one of 16 projects in Nakheel’s $1.3bn (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.
Nakheel has now awarded almost $2.1bn (AED8bn) worth of infrastructure and construction contracts at Deira Islands, with more contracts to be awarded soon.
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.