The deal is said to be unrelated to chairman Prince Alwaleed’s detention under corruption charges
Nakheel and Accor signed another hotel deal on the Palm Jumeirah last month
The project is scheduled for completion in 2019
The emirate already holds the record for the world’s tallest hotel with the JW Marriott Marquis
Some 4.3 million hotel guests stayed in the emirate from January to the end of November
The property features 190 rooms and suites
The company is also planning to refurbish and re-open the Jumeirah Beach hotel in Dubai next year
The 434-room hotel will be the largest 25hours worldwide when it opens
Sharjah-based Basma Group and developer Arada will jointly own the hotel
The resort marks the fifth Bulgari property globally
The hotel will be located within what is set to be the tallest structure on Dubai’s palm-shaped island.
The move marks Jumeirah’s entrance into the Bahrain market
Prince Alwaleed was one of several princes, ministers and former ministers detained in a government crackdown
Saudi billionaire Prince Alwaleed, a major investor in Four Seasons, was detained in a corruption probe
Kabir Mulchandani’s Five Holdings announced the rebranding of the property in June
The Bulgari resort is located on an exclusive seahorse-shaped island off of Jumeirah Road
Dubai hotels have seen double digit rate declines in recent years
The claims follow the hotel company’s denial of allegations made in a lawsuit against it last month
The openings include Bulgari Resort and Residences Dubai, expected to be the emirate’s most expensive hotel
Revenue per available room was down double digits in Dubai and Abu Dhabi, according to STR
The hotel will be operated by Emaar’s Address Hotels + Resorts
The lowest bid for constructing the 800-room resort stands at Dhs363m
The financing was used to build the company’s projects in Palm Jumeirah and Jumeirah Village
The lawsuit relates to the management of a luxury hotel in Palm Jumeirah
The developer unveiled its new MotorCity masterplan yesterday
Valued at Dhs2.5bn, The Floating Venice will be located in The World islands
The serviced residences operator has 12 properties in the kingdom, including seven in the pipeline
The property is scheduled to open in 2020
The club now also features dining and entertainment
The company has 10 new hotel openings planned within the next year across the region