Nakheel signs agreement with Shangri-La Hotels and Resorts

Dubai: Property developer Nakheel signed a letter of intent with Hong Kong-based Shangri-La Hotels and Resorts, according to a statement on Monday.

The agreement is for the management of a luxury hotel in The Palm Tower, Nakheel’s five-star hotel and residential complex in Palm Jumeirah.

The Palm Tower includes a 290-room luxury hotel, 504 furnished apartments and a rooftop leisure and dining complex. The project is one of nine hotels in the pipeline for Nakheel.