Spain-based hospitality group RIU Hotels and Resorts and UAE-based developer Nakheel sign a joint venture in Mallorca to build its first hotel in Dubai. The $170m RIU hotel located at Nakheel’s Deira Islands master development. It will include 750 rooms – largest hotel to be built on the island till date.
This is line with Nakheel’s plans to build 10 international hotels across Dubai. This marks the first time the developer has signed an agreement with an international hotel chain. Out of the 10, the first opened earlier in February 2016 and another six have been signed and announced.
Nakheel chairperson Ali Rashid Lootah said: “This is a major milestone for our growing hospitality business and a significant step towards creating a new range of affordable, family resort-style hotel accommodation in the emirate, in line with the government of Dubai’s tourism vision for 2021.”