$190m Palm Jumeirah contract signed
ZABEEL Investments and Tui Hotels and Resorts, which manages the World of Tui hotel companies and is the largest holiday hotelier in Europe have signed a deal to build two hotels on the Palm Jumeirah.
The project is valued at Dh700 million ($190.5 million).
The Robinson Club and Iberotel hotels, operated by Tui, will cover in excess of one million sq ft of land, and will be beachfront properties. Both properties will have 300 rooms and suites each that will be built to reflect the local architectural style.
“This deal signifies our commitment to Dubai’s tourism and hospitality sector as well provide tourists affordable accommodation on an exclusive island resort,” says Mohammed Ali Al Hashimi, executive chairman of Zabeel Investments.
He says the properties will attract German tourists and are aimed at being the first choice for budget-conscious holidaymakers looking for a unique location, luxurious accommodation and a wide range of services.
Located on the crescent of the Palm Jumeirah the properties will be completed in June 2008.
Robinson has a 73 per cent market share in Germany and is the market leader in the premium segment for club holidays. Their portfolio presently includes 21 club complexes in eight countries.
Says Max-Peter Droll, managing director of Robinson: “This complex will make us the first company to offer club holidays in Dubai in the premium market segment. Our club will reflect the exclusive image of Dubai as well as the Arab culture and architecture.”
Iberotel, is Tui’s leading chain of resort hotels in Egypt. The group also has a presence in Turkey and Italy.
“The new hotel is largely designed to appeal to families who come to Dubai for the well-known good weather and shopping experience as well as those who want to enjoy the local culture,” says Martin Schlüter, managing director of Iberotel.
The Iberotel the Palm Dubai will offer guests a wide variety of cuisines and restaurants which will include an à la carte restaurant. Bars along with fitness, wellness and beauty centres will be among the many services available. The hotel will also provide conference facilities for up to 400 people for business and conference guests.