wasl brings MGM resorts to Dubai
According to a statement from MGM Resorts, the 26-acre prime development will feature an MGM Hotel, MGM Residences and a Bellagio Hotel. The property will include 1,000 rooms and feature 10 villas and will occupy the “longest stretch of waterfront ever developed in Dubai” serving as the “anchor” of the expansive beach.
Under the agreement MGM will advise wasl on the development of the project and then operate it once complete. US media reports cite Bill Hornbuckle, President of MGM Resorts, as saying the project would take nine months to mobilise and about three years to build, resulting in a probable 2021 opening.
The project was presented to His Highness, Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai, by officials from both MGM Resorts and wasl Asset Management Group.
Hesham Al Qassim, CEO of wasl Asset Management Group commented: “wasl is proud to be working in partnership with such an internationally acclaimed hotel and resort operator; it is a major milestone and we are very excited to be bringing MGM Resorts on our journey to making Dubai the world’s best city to visit, work and live in.
“The collaboration also fulfils wasl’s mandate to attract global hospitality players to Dubai, where we are constantly striving to raise the bar in the city by offering tourists, residents and visitors ever more sensational hospitality and entertainment experiences.”
Bill Hornbuckle, President of MGM Resorts, said: “We are excited and honoured by the opportunity to introduce our incredible brands in one of the world’s fastest growing tourist destinations. This marks the first time we will offer multiple MGM luxury brands at a prime beachfront location.
“This agreement, which makes us the development advisor and operator, reflects our commitment to remaining disciplined and focused in our investments while continuing to advance our brand of entertainment resorts in markets around the world.”
wasl Hospitality and Leisure, a subsidiary of wasl Asset Management Group which was established by the Dubai Real Estate Corporation (DREC), manages a significant portfolio of hotels in Dubai totalling more than 5,500 rooms and hotel-apartments.