Dubai - Mubasher: Nakheel signed a joint venture agreement with Thailand’s Centara Hotels and Resorts Company, to build a 550-room beachfront resort on Deira Island, with investments totalling AED 500 million, according to a press release.
The 295,900 square feet project is expected to have a soft opening in 2019 before an official opening in 2020, the statement added.
“We look forward to seeing this exciting project come to fruition by delivering a new and unique offering at Deira Islands,” said the chairman of Nakheel, Ali Rashid Lootah.
The agreement 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, Lootah added.
