Dubai Properties to build $5.4bn project in Bawadi

Developer to build hotels, shopping centre and entertainment park in hotel district.
Dubai Properties to build $5.4bn project in Bawadi
By Dylan Bowman
Sat 25 Oct 2008 01:50 PM

Bawadi has signed an agreement with Dubai Properties to develop a 20 billion-dirham ($5.4 billion) project over 278.7 hectares of planned the $54.4 billion hotel district, the company said on Saturday.

Bawadi, a unit of real estate developer Tatweer, said Dubai Properties will build three, four and five-star hotels, a 37.2-hectare shopping centre and a water and sports entertainment park.

Arif Mubarak, vice president of Bawadi, said in a statement the partnership will bring "immense advantages to both companies".

Both Tatweer and Dubai Properties are part of state-owned conglomerate Dubai Holding.

Bawadi has already signed agreements with Al-Ghurair and Emaar Properties to develop areas of the hotel district, which will have 51 hotels, including the 6,500-room Asia-Asia, once complete.

Bawadi forms part of the Dubailand mega-tourism development being build on the outskirts of the city. Dubailand will include attractions such as Warner Bros Movie World, Six Flags, Dreamworks Studios Theme Park, Universal Studios, Tiger Woods Dubai, Marvel Super Heroes Theme Park and indoor ski resort Dubai Snowdome.

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