Nakheel breaks ground on $65mn hotel at Ibn Battuta Mall
Dubai master developer Nakheel has broken ground on a new, 375-room hotel at Ibn Battuta Mall, with a total project value of AED 240mn ($65mn).
The ground-breaking ceremony Nakheels second in a week was led by Chairman Ali Rashid Lootah and comes a month after the company handed a construction contract worth AED 184.5mn to Dubai-based Parkway International Contracting LLC to build the hotel, which will be operated by Thailands Minor Hotel Group under the AVANI brand.
Set for delivery in 2019, the AVANI is the second Nakheel hotel at Ibn Battuta Mall and one of 18 in the companys growing hospitality project portfolio.
Nakheel is investing AED 5bn in the sector, bringing over 5,800 rooms and serviced apartments to Dubai in line with the governments 2021 vision.
Chairman Ali Rashid Lootah said: Today is yet another major milestone for our hospitality business that highlights our commitment to Vision 2021, further reinforces our position as a leading player in Dubais ever-diversifying hospitality sector and cements our partnership with Minor Hotel Group.
The ground-breaking ceremony came a week after construction began at Nakheels AED 176mn, 304-room Premier Inn hotel at Dragon City.
Located next to the new link connecting Ibn Battuta Mall with the Dubai Metro, the AVANI has a built-up area of 278,000 sq ft across 15 floors. It complements Nakheels first hotel at Ibn Battuta a 372-room Premier Inn which opened last October.