Dubai’s Nakheel to develop $160m Deira Islands resort with Vienna House

Dubai’s Nakheel to develop $160m Deira Islands resort with Vienna House
Nakheel's vast Deira Islands development in Dubai which could soon be home to a $160 million Vienna House resort.
Updated 28 April 2018

Dubai’s Nakheel to develop $160m Deira Islands resort with Vienna House

Dubai’s Nakheel to develop $160m Deira Islands resort with Vienna House
  • First Vienna House project in Middle East
  • 600-room beachfront resort

Dubai-based developer Nakheel is planning a new partnership with Austria’s largest independent hotel chain, Vienna House, to create a $160 million, 600-room beachfront resort at Deira Islands.

It is the first Vienna House project in the Middle East and comes as Nakheel seeks to boost its hospitality operations across the emirate.

“Our ongoing strategy is to being new, highly-reputable hospitality brands and concepts to Dubai as part of our commitment to supporting the government in realizing its tourism vision,” said Nakheel Chairman, Ali Rashid Lootah.

The pair plan to build a unique beachfront holiday complex – Vienna House Deira Beach – at Deira Islands, a reconfigured mega-project that was originally conceived as another reclaimed palm-shaped artificial island.

The planned Vienna House partnership is Naheel’s third hospitality joint venture at Deira Islands.

The developer already has 1,400 rooms under way through joint ventures with Spain’s RIU Hotels and Resorts and Thailand’s Centara Hotels and Resorts.
In total, Nakheel has more than 3,600 keys at Deira Islands through existing or upcoming joint ventures or hotel management agreements, the developer said.

Vienna House is the largest independent hotel chain in Austria and has 30 hotels across nine countries.

Nakheel has launched an aggressive expansion into Dubai’s hospitality sector, under which 18 hotels – including five star, all-inclusive and value-for-money concepts – are planned for Dubai.


Tadawul slips 0.3%, Anaam Holding falls, SARCO soars

Updated 6 min 52 sec ago

Tadawul slips 0.3%, Anaam Holding falls, SARCO soars

Tadawul slips 0.3%, Anaam Holding falls, SARCO soars
  • Tadawul All Share Index falls to below 8,700 points, turnover at $3.14bn

Saudi equities extended their losses, with benchmark Tadawul All Share Index (TASI) slipping 0.3 percent, or 28 points, to close at 8,694 points on Wednesday.

Total turnover reached SAR 11.8 billion ($3.14 billion), with advance-decline ratio at 52:131.

The shares of Almarai Co., Saudi Telecom Co., Riyadh Bank, Banque Saudi Fransi, Yansab and Zain Saudi ended trading today with declines between 1 percent and 2 percent.

Anaam Holding was the top decliner as it went limit down to SAR 154.20. The Securities Depository Center Co. (Edaa) deposited today, Dec. 2, the subscribed securities of Anaam International Holding Group to the accounts of eligible securities' holders.

On the other hand, SARCO went limit up to SAR 105.6 amid trading volume of 6.3 million shares.

Al-Omran shares recorded their highest close since listing, rising 10 percent to SAR 108.8.

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