Developer Tatweer – part of Dubai Holding – has unveiled plans for an AED106bn (£15.4bn, 22.5bn euro, US$28.8bn) mixed-use project called Bawadi in the mixed-use Dubailand complex in Dubai, UAE.
The Bawadi project will comprise 31 three- to five-star hotels – providing 29,200 rooms – over the next eight years.
Tatweer will own 12 of the hotels – providing 12,450 rooms – which will be themed. A further 19 hotels – providing 16,750 rooms – will be developed by external investors.
Bawadi’s centrepiece will be the world's largest hotel, Asia-Asia, which alone will provide 6,500 rooms, combining 5,100 four-star and 1,400 five-star rooms.
The six mile (10km) project will also feature entertainment centres, shopping malls, theatres, restaurants and convention centres.
The project will be built in five phases. Initially, five hotels will open by 2010, with a further six opening by 2011. Seven hotels will be completed in both 2012 and 2013. The final phase will see six more hotels opening in 2014, bringing the total up to 31.
Tatweer will invest AED31.6bn (£4.6 bn, 6.7bn euro, US$8.6bn) in hotel developments and AED11bn (£1.6bn, 2.3bn euro, US$3bn) in infrastructure investment. The remaining AED63bn (£9.2bn, 13.4bn euro, US$17.2bn) is expected to come from investors.
