Dubai –Mubasher: UAE developer Nakheel and Thai hotel group Centara Hotels and Resorts signed a joint venture (JV) agreement to create a beachfront resort worth AED 500 million with waterpark at Deira Islands in Dubai, according to a statement.
The two companies will deliver, under the agreement, an upscale resort on a prime stretch of beach on Deira Islands.
The new 550-room resort project is projected to have soft opening in 2019 and grand opening in 2020.
“Nakheel’s joint venture with Centara is the latest development in the company’s aggressive expansion into Dubai’s hospitality sector and its second international joint venture for Deira Islands,” the statement added.
The first AED 900 million all-inclusive resort and waterpark with Spain’s RIU Hotels and Resorts was confirmed in February 2016.
