Business | Tourism
MGM Mirage to launch mixed-use resort in Dubai
MGM Mirage, the US entertainment and hospitality company, said it will launch a mixed-use resort project in Dubai in a joint venture with Dubai World.
- By Shakir Husain, Staff Reporter
- Published: 00:11 May 6, 2008
Dubai: MGM Mirage, the US entertainment and hospitality company, said it will launch a mixed-use resort project in Dubai in a joint venture with Dubai World.
Various locations, including the three Palm Islands, are being considered for the development, MGM Mirage Hospitality chief executive officer Jamal Aziz told Gulf News.
"We are in deep discussions with Dubai World," he said.
The company is already working with Abu Dhabi's Mubadala on a $3 billion waterfront plan in a prominent location in the UAE capital.
Mubadala is expected to soon unveil the design and site of the project.
The initial phase will use 50 acres of land and consist of an MGM Grand hotel and two additional MGM-branded luxury hotels.
More than 1,200 luxury guest accommodations will be developed in the first phase.
There will also be an entertainment facility, high-end retail shops, convention facilities and residences. The project is expected to be ready in 2012.
"Abu Dhabi and Dubai will be our first projects [in the region]," Aziz said, but did not give details of the upcoming Dubai development.
He said another certain location for a future MGM project is Qatar.
The company also plans to enter the Egypt, Morocco and Tunisian markets.
Dubai World is a shareholder in MGM Mirage and owns half of MGM's $5.4-billion City Centre project on the Las Vegas Strip.
MGM Mirage, which operates casinos, also formed an alliance with Mubadala in December to develop luxury no-gambling hotels and resorts globally.
Initially they planned to have these properties in Abu Dhabi, Las Vegas and Britain.
We are in deep discussions with Dubai World ."
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