Dubai’s Nakheel on Monday signed a joint venture agreement in Bangkok with Thai hospitality group Centara Hotels and Resorts to build a 500 million dirhams ($136.1285 million) beachfront resort and waterpark on Dubai’s Deira Islands, according to a press releases issued by the government-owned master developer.
The project will be the second of its kind constructed by Nakheel in the area, after the developer announced an agreement last February with Spain’s RIU Hotels and Resorts to build a 900 million dirhams 800-room resort that will also include another waterpark in the same area. It is expected to open by the third quarter of 2019.
The new resort, which was first announced in October, 2015, is expected to establish a 295,900 square foot resort, featuring 550 rooms, retail outlets, restaurants and a business centre, according to the press release. It will also include a kids’ club, spa and fitness centre and is expected to soft launch in 2019, before its official opening in 2020.
“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,” he added.
(Reporting by Yasmine Saleh, editing by Shane McGinley)
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