In a Dh385-million deal, Dubai-based developer Nakheel has tapped Bin Ladin Contracting Group Dubai to construct a hotel resort and water park on Deira Islands in Dubai. Nakheel and Spain's Riu Hotels & Resorts are teaming up to develop the 800-guestroom resort.
Together, the JV invested a total of Dh670 million into the project development. As Riu's first project in the Middle East, the hotel's construction is expected to be completed in 2020.
In the hospitality industry, Nakheel has a pipeline of 17 projects with approximately 6,000 guestrooms and serviced apartments in Dubai, including Palm Jumeirah, Deira Islands, Ibn Battuta Mall, Jumeirah Village and Dragon City. Two of the firm's properties at Dragon Mart and Ibn Battuta Mall launched in 2016 while the rest are set to be complete within the next few years.
Nakheel added a Raffles hotel to its development pipeline in December. As part of the management agreement with AccorHotels, Nakheel will develop Raffles The Palm Dubai and Raffles Residences PALM360 as part of its upcoming PALM360 tower. Opening in 2021, the beachfront resort—with 124 guestrooms and suites, 359 branded residences and 16 branded penthouses—will be the brand's first in Dubai. It will be on Palm Jumeirah's seven-mile crescent boardwalk near the city's business and leisure centers and various attractions also in the city's pipeline, including The Palm Promenade, The Pointe and Nakheel Mall.
In October 2017, Nakheel inked a similar management deal with Centara Hotels and Resorts for a 600-room beachfront water park resort on the islands. Slated to open in 2020, the upcoming 3,000 square-foot resort will be Centara's first in the UAE.