Nakheel, Centara join hands for AED500mn Deira resort

DUBAI / WAM

Dubai-based developer Nakheel and Thai hotel group, Centara Hotels and Resorts, on Monday signed a joined venture agreement to create a 550-room, AED500 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.
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.”