Dubai Properties and Bawadi form joint venture

26 October 2008
Bawadi and Dubai Properties will jointly develop a AED20bn ($5.4bn) tourism project at Bawadi in Dubailand.

Covering an area of over 3 million square metres, the project will involve the construction of three, four and five-star hotels, which altogether will have more than 5,000 hotel rooms, a 400,000 square-metre shopping mall with an integrated desert resort, and a water sports theme park.

Bawadi is part of Taweer. Dubai Properties is part of the Dubai Properties Group. Dubai Properties Group and Tatweer are both subsidiaries of Dubai Holding.

The alliance with Dubai Properties Group is Bawadi’s third confirmed partnership with a leading developer. The company is already collaborating with the local Al-Ghurair Group on a AED20bn mixed-use project, which includes what will become the world's largest shopping mall. Bawadi has also formed a partnership with local developer Emaar Properties to develop the 9 million square-metre mixed-use Asmaran development.

Further joint ventures are planned by Emaar Properties with Sama Dubai, also part of Dubai Holding, and Dubai Properties (MEED 3:10:08).

A MEED Subscription...

Subscribe or upgrade your current package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.

Get Notifications