Nakheel to Build Luxury Resort on The World
DUBAI, UAE, June 12, 2006. Real estate developer Nakheel will build a luxury resort on one of the islands of The World project in Dubai, the company's chairman Sultan Ahmad Bin Sulayem said.
Nakheel, The World's developer, is keeping details of the plan under wraps while it works on a "unique brand" for the resort. Bin Sulayem insisted it would not be an ordinary luxury project. The World is a cluster of 303 man-made islands that are being sold to developers and investors to build tourist facilities and private estates. "We are developing many projects within The World and among them is a resort. There are negotiations to make a brand that will be promoted in the world," he said.
"We are planning something unique. It will be a completely new brand unrelated to the existing hospitality brands," he told 'Gulf News' in the Maldivian capital during a short visit while returning from Vietnam, where DP World has just launched a $250-million container terminal project. Bin Sulayem is chairman of holding company Dubai World that oversees activities of DP World, Nakheel and investment firm Istithmar.
Both Nakheel and Istithmar have hotel divisions and have invested in properties outside Dubai. Bin Sulayem said Nakheel's core business is real estate and it will continue to be a property developer.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
