New 'ultra-luxury' resort off Dubai coast... but bad news for Jebel Ali
What’s On has details of the new development near Burj Al Arab and Jumeirah Beach Hotel that has been approved; a 350-room hotel in Dubai set for 2018.
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A new ‘ultra-luxury’ resort off the coast of Dubai has been given the green light by ruler Sheikh Mohammed bin Rashid Al Maktoum.
In what is the fifth phase of the Jumeirah Beach Hotel expansion plan, the new space will feature 350 rooms, spas, health clubs, sports facilities and numerous retail, food and beverage spots.
Slated for completion in 2018, the resort will boast stunning beachfront views of the iconic Burj Al Arab, while part of the plans also include expansion of the existing yacht marina to almost double its current size.
Meanwhile, Nakheel, who this week announced they would be paying back the debts (Dhs7.9 billion) suffered during the last financial crash four years early, have confirmed there is no plan to restart work on Palm Jebel Ali.
One of the three ‘palm’ projects, Palm Jebel Ali was designed to be 50 per cent larger than the thriving Palm Jumeirah, and was expected to house more than a quarter of a million people, along with marinas, theme parks and retail.
However, Nakheel company chairman Ali Rashid Lootah said this week: “We don’t have any plans to resume the project in the near future. We have to monitor the market and we will go along with the market demand.”
Nakheel’s other similar project, in Deira, was re-launched last year as the Deira Islands development.
Despite the blow to Jebel Ali, Lootah insists the future is very bright for the company, adding that the wheels had already been set in motion for other bigger and better projects.
“We are going to announce much bigger projects, now that we have restructured our debt,” he said. “We will focus on hospitality, retail and leasing property projects. We will also launch some residential projects for investors, but the majority of the new developments will be aimed at building Nakheel’s assets.”