Dubai-based developer Nakheel and Thai hotel group, Centara Hotels and Resorts, today signed a joined venture agreement to create a 550-room, Dh500 million beachfront resort with waterpark on Deira Islands in Dubai.
Under the agreement, signed in Bangkok by Nakheel Chairman, Ali Rashid Lootah, and Centara Chairman, Suthikiati Chirathivat, the two companies will deliver an upscale resort on a prime stretch of beach on Deira Islands, Nakheel’s new, 15.3 sq. km., world-class tourism, leisure, retail and entertainment hub that will contribute significantly to the Government of Dubai’s tourism vision.
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, an 800-room, Dh900 million all-inclusive resort and waterpark with Spain’s RIU Hotels and Resorts, was confirmed in February last year.
As the first Centara establishment in the UAE, the new resort will cover an area of 295,900 sq. ft.. Features include a waterpark, dining facilities, business centre, children's club, spa and fitness centre. The resort is anticipated to 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. Today’s signing is a key milestone in hospitality expansion, and the beginning of a long-term strategic partnership between Nakheel and one of Thailand’s biggest, most popular hotel operators. We look forward to seeing this exciting project come to fruition by delivering a new and unique offering at Deira Islands."
Suthikiati Chirathivat, Chairman of Centara Hotels and Resorts, said, "We are thrilled and proud to be partnering with Nakheel on this joint venture hotel investment that will see Centara Hotels and Resorts operate and manage a distinguished new resort in an exciting new destination. 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. As we look forward to an even stronger and meaningful business partnership with Nakheel in the near future, we believe that Centara Deira Island Beach Resort Dubai will offer unforgettable holiday experiences to guests through our unique Centara hospitality and service."