Mega tourism plan unveiled

Dubai: Bawadi on Saturday said it has signed an agreement with Dubai Properties to develop a Dh20 billion tourism project over a 30 million square foot area at Bawadi, the mega hospitality and tourism destination being developed in Dubai.

The agreement was signed by Mohammad Bin Braik, Group Chief Executive of Dubai Properties Group, and Arif Mubarak, Vice-President of Bawadi.

The partnership will oversee the construction of three-, four- and five-star hotels offering more than 5,000 hotel rooms, a four million square foot shopping area comprising an integrated desert resort, and a water and sports specialised entertainment park.

Opportunities

Bin Braik said: "This new project will provide additional opportunities for investors to secure a foothold in Bawadi, one of the region's largest real estate developments.

"Our new project will feature several distinctive attractions. The hotels and malls, in addition to other entertainment facilities within the project, will significantly increase investor and partner appeal, while diversifying our portfolio."

Dubai Properties Group has several projects under various stages of implementation. Exclusive master-planned communities include the Culture Village, Jumeirah Beach Residence, The Villa, Business Bay and Mudon.

Mubarak said: "Our strategy is to create a destination that offers an integrated diverse range of leisure, hospitality and entertainment services. To achieve this, we continuously seek alliances with business partners and investors who have the wherewithal to add value and new dimensions to our projects, especially Bawadi, one of the world's largest hospitality and tourism destinations."

Tatweer Dubai, Bawadi's parent entity, has doubled the initial investment in Bawadi to Dh200 billion in line with the tourism sector's development objectives as outlined in the Dubai Strategic Plan 2015.

The alliance with Dubai Properties Group is Bawadi's third such confirmed partnership with a leading developer. The company is already collaborating with Al Ghurair Group in a Dh20 billion venture to develop a mixed-use project that will include the world's biggest shopping mall.