Nakheel and Thai hotel group Centara Hotels & Resorts today cemented their AED500 million joint venture with a construction contract worth AED290.5 million to build a 601-room beachfront resort at Dubai’s Deira Islands.
DUBAI, (Pakistan Point News - 26th Jul, 2018) Nakheel and Thai hotel group Centara Hotels & Resorts today cemented their AED500 million joint venture with a construction contract worth AED290.5 million to build a 601-room beachfront resort at Dubai’s Deira Islands.
The two entities have appointed Parkway International Contracting LLC to deliver Centara Deira Islands Beach Resort Dubai – Centara’s first in the UAE – which is set to open in Q4, 2020.
The contract, which takes Nakheel’s infrastructure and construction investment at Deira Islands to nearly AED8.8 billion so far, was signed in Dubai today at a ceremony led by Nakheel Chairman, Ali Rashid Lootah, and Suparat Chirathivat, Executive Vice President – Corporate Development, Central Group, parent company of Centara Hotels and Resorts and one of Thailand’s most prominent family-owned conglomerate holding companies.
Lootah said, "Nakheel continues to play a pivotal role in shaping and diversifying Dubai’s tourism offering with a 27 billion AED hospitality and retail expansion that supports the government’s vision. Our joint venture with Centara underlines our commitment to working with trusted international brands to bring new hospitality concepts to Dubai, and today’s crucial milestone brings this exciting new resort ever closer. I look forward to delivering one of Dubai’s most sought-after destinations for travellers from all over the world."
Chirathivat said, "Centara is thrilled with the speed at which its joint venture with Nakheel is progressing and looks forward to opening Centara Deira Islands Beach Resort Dubai in 2020. Today is a key milestone of expansion 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. We believe that the unique design and service of Centara Deira Islands Beach Resort Dubai will offer unforgettable holiday experiences to guests. With Nakheel’s development expertise and Centara’s record of delivering and inspiring extraordinary guest experiences, we will create a unique resort that surprises and delights guests for years to come."
Nakheel has invested AED8.8 billion in infrastructure and construction contracts at Deira Islands so far, and recently announced a contract for nearly AED450 million to build a 12-lane bridge connecting the islands to the Dubai mainland.
Deira Islands will transform ‘Old Dubai’ into a world-class hub for retail, tourism, living and leisure, and will add 40 km, including 21km of beach, to Dubai’s coastline. The coastal city is expected to have a population of 250,000 and to create 80,000 jobs.
