SULTAN Ahmed Bin Sulayem, executive chairman, Nakheel, has  announced the formation of Nakheel Hotel & Resorts, a new hotel and resort investment company that will acquire and develop a dynamic portfolio of properties in the Middle East, Africa, Asia, Russia and the CIS.

The company’s initial portfolio of projects will include The Trump Hotel & Tower Palm Jumeirah (800 unit condo-hotel development), a 150-room boutique hotel and spa with 100 private villas and beach condos on The World, a 400 room hotel and resort in Djibouti, and a 200-room hotel with 200 luxury serviced residences on The Palm Jumeirah. Other projects under development include properties in Morocco, Oman, Africa, India, Asia and CIS.
Nakheel Hotel & Resorts will focus on building a portfolio of leading hotel and resort properties and strengthening Nakheel’s regional and international alliances in the hotel, resort, hospitality and tourism sectors through acquisitions. The company will seek to maximise growth and profitability in its investments by capitalizing on and leveraging the brand value of the group’s existing assets and projects.