Dubai - Master developer Nakheel and Spain’s RIU Hotels & Resorts have signed a contract worth AED385 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 LLC Dubai, who was chosen from a shortlist of 10 contractors who bid for the project. Construction will be completed in two years.

Nakheel 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 new hospitality concept for Dubai, offering 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 Hotels & Resorts has almost 100 hotels, with around 45,000 rooms between them, in 19 countries. Together, these welcome over four million guests a year and provide jobs for nearly 27,000 people. 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.”

Joan Trian, RIU’s Financial Director, said: “Today we are a step closer to the opening of our first hotel in Dubai. We are sure that our loyal clients will want to explore the new offerings of the city with us, and we look forward to attracting new customers to our joint venture hotel, too. Nakheel has proven to be the best partner for our entry in to the Middle East market, and we hope it is the first of other projects to come. In fact, this is a great step forward in our long-term expansion strategy in the Middle East and South East Asia”.

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. Nearby is Deira Central, Nakheel’s sprawling mixed-use community with the upcoming Deira Mall as its centrepiece. Deira Islands Night Souk is also within easy reach.

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 in line with the Government of Dubai’s tourism vision.

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.

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About Nakheel (www.nakheel.com) 
Nakheel is one of the world’s leading developers and a major contributor to realising the vision of Dubai for the 21st century: to create a world class destination for living, business and tourism. Nakheel continues to deliver and enhance an iconic portfolio of innovative landmark projects in Dubai across the residential, retail, hospitality and leisure sectors.

Our master developments include Palm Jumeirah, The World, Deira Islands, Jumeirah Islands, Jumeirah Village, Jumeirah Park, Jumeirah Heights, The Gardens, Discovery Gardens, Al Furjan, Warsan Village, Dragon City, International City, Jebel Ali Gardens and Nad Al Sheba.  Together, these span more than 15,000 hectares and currently provide homes for over 270,000 people. Nakheel has more than 24,000 residential units under construction or in the pipeline.

Nakheel’s current and future retail project portfolio covers 17.3 million square feet of leasable space.  Developments include Ibn Battuta Mall, Dragon Mart 1 and 2, Golden Mile Galleria, Nakheel Mall, The Pointe, Deira Mall, Deira Islands Night Souk, Warsan Souk, Al Khail Avenue, The Circle Mall, Nad Al Sheba Mall and Discovery Gardens Mall, as well as major extensions to Dragon Mart (renamed Dragon City) and Ibn Battuta Mall.  The retail profile also includes several neighbourhood community centres, known as Nakheel Pavilions.

Our growing hospitality project portfolio comprises 17 hotels and serviced apartment developments with nearly 6,000 rooms and hotel apartments between them at various locations in Dubai, including Palm Jumeirah, Deira Islands, Ibn Battuta Mall, Jumeirah Village and Dragon City. Two are currently open and operational, with the rest at various stages of construction and development.

About RIU (www.riu.com) 
The international RIU chain was founded in Mallorca by the Riu family in 1953 as a small holiday firm and is still owned by the family's third generation. The company specialises in holiday resorts and over 70% of its establishments offer its acclaimed All Inclusive by RIU service. With the inauguration of its first city hotel in 2010, RIU is expanding its range of products with its own line of city hotels called Riu Plaza. RIU Hotels & Resorts now has 95 hotels in 19 countries which welcome over 4 million guests a year and provide jobs for a total of 26,867 employees. RIU is currently the world's 29th ranked chain, one of the Caribbean's most popular, the second largest in Spain in terms of revenue and the third largest in number of rooms.

© Press Release 2018