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Dubai company to build world's longest hotel strip |
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5/3/2006 9:26:25 AM |
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Dubai - A Dubai company will build the world's longest hotel strip as part of a 27.3 billion dollar tourist and leisure resort in the city, a local newspaper said Tuesday.
The project will be spread over 139 million square feet (12.5 million square metres) in Dubailand, a tourism, real estate, hospitality, entertainment, leisure and retail mega project under development in Dubai.
It will feature a cluster of 31 hotels offering more than 29,000 rooms and 100 theatres presenting live cultural shows, said Gulf News newspaper.
Tatweer, a unit of Dubai Holding and builders of the project, said it will boast the world's largest concentration of leading hotels and help Dubai cope with the 15 million tourists it hopes to attract by 2010.
Called Bawadi, the project will nearly double the current number of hotel rooms in Dubai through several themed hotels and also develop entertainment centres, shopping malls, theatres, restaurants and convention centres.
The giant project, set up after extensive research of the dynamics of the tourism industry, will also boost tourism dependent industries, said the paper.
The centrepiece of Bawadi will be the world's largest hotel, Asia- Asia, which alone will provide 6,500 rooms, combining 5,100 four star and an additional 1,400 five star rooms.
Asia-Asia will be part of the first phase of development, due to be completed by 2010.
Of the total investment needed, Tatweer will spend 8.2 billion dollars in developing hotels and another 2.7 billion dollars on infrastructure that will be raised through its own private equity and debt. The rest is expected to come from investors. |
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