The partnership will be the developers third international partnership for hotel projects at Deira Island
- Nakheel partners with Thai operator
- Nakheel has recorded profits of AED3.61bn in the first nine months of 2015
Local developer Nakheel has announced a partnership with Thailands Centara Hotels and Resorts to develop a 550-key resort in Dubai.
The resort, which will be built at Deira Islands, will be Nakheels third joint venture for hotels in the area announced this year.
Nakheel is currently working on a 750-key resort with Spains RIU Hotels & Resorts and a 500-key AVANI resort with Thailands Minor Hotel Group.
On 22 October Nakheel announced that it has made a net profit of AED3.61bn ($984m) for the first nine months of 2015.
The figure is an increase of AED1bn, or 39 per cent, on the AED2.6bn profit made during the same period last year. It is also almost equal to Nakheels AED3.68bn of profit for all of 2014.