|
|
|
Dubai-based Nakheel Hotels has put in $375 mn with Fontainebleau Resorts, a privately-held, Las Vegas-based resort real estate developer |
Luxury arm of Dubai-based real estate firm, Nakheel Hotels opened the Fontainebleau Miami Beach resort this weekend. The grand launch of the newly renovated Fountainebleau Miami Beach resort was celebrated by dignitaries and businesspeople.
Nakheel Hotels has invested $375 million with Fontainebleau Resorts, LLC, a privately-held, Las Vegas-based resort developer, for a 50 per cent interest in the famous hotel. "Miami, as one of the US' major gateways, has been a key target, which we are pleased to have now gained," said Joe Sita, Nakheel Hotels CEO.
Miami Nakheel Hotels also plans to take advantage of the current global credit crisis in order to develop their portfolio of investments around the world. It eyes markets in Asia and the Middle East for its future developments.
