Master developer Nakheel and Spain’s RIU Hotels & Resorts have signed a contract worth AED385 million ($104.8 million) for the construction of their 800-room, joint venture beachfront resort and water park at Deira Islands in Dubai.
Set for delivery in 2019, the resort, which has a total investment value of AED670 million, will be built by Bin Ladin Contracting Group Dubai, who was chosen from a shortlist of 10 contractors who bid for the project.
Nakheel said it has now awarded almost AED8 billion worth of infrastructure and construction contracts at Deira Islands, with more on the way.
Under the joint venture, Nakheel and RIU Hotels & Resorts will deliver a mid-scale, family-orientated, all-inclusive beachfront accommodation.
The resort, RIU’s first in the Middle East, will be one of Dubai’s biggest in terms of hotel rooms. RIU is one of the most popular hotel chains in the Caribbean and the second largest in Spain in terms of revenue.
Nakheel chairman, Ali Rashid Lootah, said: “Today marks a key milestone for the Nakheel Hospitality, Deira Islands and Dubai. 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.”
Located on a prime beachfront plot at Nakheel’s new, 15.3 sq km Deira Islands coastal city, the resort features seven food and beverage outlets, three swimming pools, a fitness complex, children’s club and water park.
The joint venture is one of 16 projects in Nakheel’s AED5 billion hospitality expansion programme, under which some 6,000 new rooms and hotel apartments will be delivered across Dubai.
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.