UAE-based developer Nakheel is evaluating 10 proposals for the construction of its new, 800-room Riu beachfront resort on Deira Islands.
A joint venture between Nakheel and Spanish hospitality group Riu Hotels & Resorts, the lowest bid received for the $182m (AED670m) project is $98.8m, according to Hotelier Middle East.
The hotel is set for delivery in 2020, with a construction contract to be awarded by the end of 2017.
Riu will be the first in the Middle East and will be one of Dubai’s biggest in terms of hotel rooms upon completion.
It will also bring a new hospitality concept to Dubai, offering mid-scale, family-orientated, all-inclusive beachfront accommodation.
The joint venture is one of 17 projects in Nakheel’s $1.4bn (AED5bn) hospitality expansion programme, under which some 6,000 new rooms and hotel apartments will be delivered across Dubai in line with the Government of Dubai’s tourism vision for 2021.
Nakheel has already awarded more than $2bn (AED7.5bn) worth of contracts at Deira Islands, and will be awarding more soon.
Riu Hotels & Resorts has almost 100 hotels, with around 45,000 rooms between them, in 19 countries.