Bin Ladin Contracting wins $104mn Dubai contract

January 03, 2018

undefinedMaster developer Nakheel and Spain’s RIU Hotels & Resorts have signed a contract worth AED 385mn ($104mn) for the construction of their 800-room beachfront resort and water park at Deira Islands in Dubai.

Set for delivery in 2019, the AED 670mn resort will be built by Bin Ladin Contracting Group LLC Dubai, who was chosen from a shortlist of 10 contractors to bid for the project. Construction will be completed in two years.

Nakheel has now awarded almost AED 8bn worth of infrastructure and construction contracts at Deira Islands, with more on the way, the developer said in a statement.

Under the joint venture, Nakheel and RIU Hotels & Resorts will deliver a new hospitality concept for Dubai, offering mid-scale, family-orientated, all-inclusive beachfront accommodation. The resort, RIU’s first in the Middle East, will be one of Dubai’s biggest in terms of hotel rooms. 

Nakheel Chairman, Ali Rashid Lootah, said: “Our first international joint venture will bring a new dimension to Dubai’s hospitality offering by providing a new concept in accommodation and attracting a new market segment to the emirate.

“The RIU resort at Deira Islands is a shining example of our commitment to delivering a diverse range of tourism-related projects that will help the government achieve its 2020 tourism targets, and I look forward to seeing this exciting resort come to fruition.”

Joan Trian, RIU’s Financial Director, said: “Nakheel has proven to be the best partner for our entry into the Middle East market, and we hope it is the first of other projects to come. In fact, this is a great step forward in our long-term expansion strategy in the Middle East and South East Asia.”

The resort will be close to Deira Central, Nakheel’s sprawling mixed-use community with the upcoming Deira Mall as its centrepiece. Deira Islands Night Souk is also within easy reach.

The joint venture is one of 16 projects in Nakheel’s AED 5bn hospitality expansion programme, under which some 6,000 new rooms and hotel apartments will be delivered across Dubai in line with the Government of Dubai’s tourism vision.

Deira Islands, which is expected to have a population of 250,000 and to create 80,000 jobs, will add 40km of coastline to Dubai.

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