U City’s Vienna House intends to JV with Nakheel on Dubai’s Deira Islands’ Multi-Billion Resort Project

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U City Public Company Limited led by Mr. Keeree Kanjanapas, Chairman, recently chaired a meeting the Letter of Intent signing ceremony (LOI) between its subsidiarity “Vienna International Hotelmanagement AG” and “Nakheel PJSC”, Dubai-based master developer who has delivered world-famous projects such as Palm Jumeirah, to express their mutual intention to explore an opportunity to establish a joint venture to develop and operate a resort on Deira Islands. Top executives who joined the event, held at the Eastin Grand Sathorn Hotel in Bangkok, include Ms. Piyaporn Phanachet, CEO of U City PLC.; Mr. Ali Rashid Ahmed Lootah, Chairman of Nakheel PJSC; and Mr. Rupert Simoner, CEO of Vienna International Hotelmanagement AG.

According to the preliminary study, subject to certain terms and conditions including required approvals, it intends to develop and manage a beachfront resort under the name “Vienna House Deira Beach”.

Mr. Keeree Kanjanapas, Chairman of U City PCL, said that “This venture will expand the portfolio of Vienna International Hotelmanagement AG, under the brand ‘Vienna House’. Dubai’s economy continues to show continuous growth especially in the property and tourism industry, which is a result of its well development plans. This is a great opportunity to bring the brand, which is already well-established in the European markets, to other parts of the world.”

Mr. Ali Rashid Ahmed Lootah, Chairman of Nakheel PJSC said: “Nakheel is delighted to be working with Vienna House on this unique new concept for Deira Islands. Our ongoing strategy is to bring new, highly-reputable hospitality brands and concepts to Dubai as part of our commitment to support the government in realising its tourism vision. The Vienna House Deira Beach is a shining example of how this strategy is coming to fruition. Vienna House has an enviable track record in hotel management and is renowned for its excellent service and hospitality across Europe, and we look forward to welcoming this new brand into our ever-growing portfolio of global hospitality partners.”

Mr. Rupert Simoner, CEO of Vienna International Hotelmanagement AG, said that “The brand ‘Vienna House’ is about the joy of travelling, adventure, and discovery. The ‘Vienna House Deira Beach’ will offer quality leisure experiences with service and design which are meaningful for guests to live the authentic moment. There is nothing comparable so far in Dubai. The uniquely designed beach resort will be introduced under the ‘Affordable Great’ concept. The project features over 600 rooms in different categories and layouts with guest-centric but not exaggerated services. The resort offers an informal and laidback atmosphere which is inspired by the Bohemian and casual lifestyle and is equipped with artisan food & beverage concepts. There will be dedicated activities entertainment and social programs for guests to enjoy.”

Ms. Piyaporn Phanachet, CEO of U City PCL, said “This potential partnership is strategically in line with U City’s vision to expand its real estate investment portfolio globally through strong partnership. A   world renowned partner like Nakheel will allow us to enter into a new territory with good knowledge and great connections.  This step will enhance value of our hotel management brand(s) and hence, strengthen our investment.”

The new resort will be located on a prime beachfront plot on Deira Islands, Nakheel’s new waterfront city which is transforming the area traditionally known as ‘Old Dubai’ into a world-class retail, tourism, living and leisure hub. The four-island development is adding 40 km, including 21 km of beachfront, to Dubai’s coastline and this is paving the way for new tourism, leisure and residential developments including hotels, resorts, serviced apartment, mixed-use building and waterside homes. Nakheel itself is bringing an array of attractions to Deira Islands, including Deira Islands Night Souk, the largest night market in the world, and Deira Mall, the Middle East’s biggest mall in terms of leasable space.  Nakheel is developing nine hotels and resorts at Deira Islands.