Palm Islands developer to have 9 hotels by 2016

[DUBAI] Nakheel PJSC, the property developer at the heart of Dubai's debt crisis in 2009, will have nine hotel projects under development by 2016 to benefit from the emirate's growth as a regional tourist destination.

The builder of the Palm Islands off the emirate's coast may unveil plans to build four new hotels on Deira island along with its existing one, adding to four other developments across the rest of the city, chairman Ali Rashed Lootah said at a news conference in Dubai on Sunday. The hotels will be part of new projects with a sales value of 6-8 billion dirhams (S$2.1- 2.8 billion) that Nakheel will unveil this year, including homes, retail and leisure destinations, he said.

"We are seriously thinking of expanding in hospitality, which goes along with the vision of the Dubai government of trying to build enough facilities," Mr Lootah said. "By 2016, we will have nine hotels and more to be announced."