Author : Jaidev
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The agreement was signed by Mohamed Binbrek, Group CEO, Dubai Properties Group, and Arif Mubarak, Vice-President, Bawadi in Dubai |
A member of Tatweer Dubai, Bawadi, inks a pact with Dubai Properties, arm of Dubai Properties Group (DPG), to build Dh20 billion tourism project over a 30 million sq ft area at Bawadi, the mega hospitality and tourism destination being developed in Dubai.
Mohammad Binbrek, Group CEO, Dubai Properties Group, said: "We are delighted to partner with Bawadi. The synergy in capabilities between the organisations and our experience as a leading developer in the region will ensure the partnership's success. This new project will provide additional opportunities for investors to secure a foothold in Bawadi, one of the region's largest real estate developments.
The pact will oversee the construction of 3, 4 and 5-star hotels 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. Currently, Dubai Properties Group has several major real estate projects under various stages of implementation. The exclusive master-planned communities include the Culture Village, Jumeirah Beach Residence, The Villa, Business Bay and Mudon.
Source : Press Release
