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Bawadi and Dubai Properties agree to develop a Mega Tourism Destination
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26 Oct. 2008
Bawadi, a member of Tatweer, has signed an agreement with Dubai Properties to develop a Dhs20bn, the mega hospitality and tourism destination being developed in Dubai. This new project will offer bonus prospects for investors to secure a foothold in one of the region's largest real estate developments - Bawadi.
An agreement to develop a tourism project over a 30 million sq ft area at Bawadi was signed by Mohamed Binbrek, the Group CEO of Dubai Properties Group and Arif Mubarak, Vice-President of Bawadi, at the Tatweer offices in Emirates Towers, Dubai. This will 20 billion dirham project will end up developing, a mega hospitality and tourism destination including 3, 4 and 5-star hotels in Dubai, offering more than 5,000 hotel rooms, a four million sq ft GLA shopping area comprising an integrated desert resort, and a water and sports specialized entertainment park.
Dubai Properties Group currently has quite a lot of key projects under various stages of implementation. Some of the exclusive master-planned communities include the Culture Village, Jumeirah Beach Residence, The Villa, Business Bay and Mudon.
Bawadi's approach is to create a destination that provides diverse range of leisure, hospitality and entertainment services integrated in one area. In order to accomplish this strategy, the company is constantly in search of coalition with other business groups and investors operating in the same platform and who share the same thoughts.
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