OFFPLAN NEWS

(18.06.2007 )
Dubai property Bawadi resort project in Dubai to double its size and investment

Tatweer, a real estate arm of Dubai Holdings, has decided to double the size of its realty development, Bawadi, the world’s largest hospitality and entertainment Dubai off plan property project, from its initial investment to Dh200 billion following a directive by His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai. The Bawadi project was announced a year ago to develop capacity for the forecast dramatic increase in tourism to Dubai. The number of available rooms at Bawadi will double from the 29,000 to 60,000 while the number of hotels will increase from 31 to 51.

Mohammed Al Gergawi, Executive Chairman, Dubai Holding, said, "The Bawadi expansion is in line with Dubai's strategic plan 2015, with the tourism sector set to contribute 11% in annual growth to achieve a GDP of $08 billion by 2015. Doubling the investment will secure Bawadi's position as a must visit destination for tourists. The increase in both hotels and available rooms will ensure that Dubai's hospitality industry can meet the projected demand".

The hotels of Bawadi real estate development are influenced by several architectural designs such as the ancient Egyptian palaces, Hollywood, Houses of Parliament in London and the moon. The resort project will also include the world's largest hotel, Asia, which will have more than 6,500 rooms as well as retail, entertainment and convention facilities. Bawadi will also house the world's largest shopping area of over 40 million sq ft of gross leaseable area. Bawadi real estate development will be the largest concentration of leading hotels in the world in Dubai.

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