The state-owned developer in Dubai, Nakheel, has awarded a contract for the development of a hotel resort and water park on the Deira Islands.
The 385 million dirham ($104.83 million) contract was awarded by Nakheel to Bin Ladin Contracting Group LLC Dubai.
The 800-room resort was also awarded by Spain’s RIU Hotels & Resorts as part of a joint venture. This will be the Spanish firm’s first project in the Middle East.
The resort will include seven food and beverage outlets, three swimming pools, a fitness complex, a children’s club and a water park.
Construction is expected to take two years to complete.
In October the developer reported a 4 billion dirham profit for the nine months to September 30, a year-on-year increase of 2.3 percent.
Nakheel has opened two properties at Dragon Mart and Ibn Battuta Mall – but they have 5 more set to be built and developed in the coming year. These include in areas such as Palm Jumeirah, Deira Islands, Ibn Battuta Mall, Jumeirah Village and Dragon City.
Last month, the developer signed a management agreement with France’s AccorHotels to develop a Raffles hotel on Palm Jumeirah in 2021.