MGM Hospitality has been selected by Wasl Hospitality and Leisure, a subsidiary of Wasl Asset Management Group, to develop, advise and operate a 26-acre branded beachfront development in Dubai.
The project will mark the debut of the MGM and Bellagio brand in the region, with the resort set to feature an MGM Hotel, MGM Residences, and a Bellagio hotel, however a casino is not included in the development.
“This marks the first time we will offer multiple MGM luxury brands at a prime beachfront location,” said Bill Hornbuckle, president of MGM Resorts. “This agreement, which makes us the development advisor and operator, reflects our commitment to remaining disciplined and focused in our investments while continuing to advance our brand of entertainment resorts in markets around the world.”
The two million square-foot development will occupy the longest stretch of waterfront ever developed in Dubai, and will include 1,000 rooms in addition to 10 villas.
The collaboration also fulfils wasl’s mandate to attract global hospitality players to Dubai, where we are constantly striving to raise the bar in the city
The resort on Jumeirah Beach is intended be an “entertainment destination of the future”. The development will feature a theatre, a range of restaurant venues and retail shops as well as museums, a beach club and ‘adventure zones’ for children and adults.
Hesham Al Qassim, CEO of Wasl Asset Management Group described the move as a major milestone. “The collaboration also fulfils wasl’s mandate to attract global hospitality players to Dubai, where we are constantly striving to raise the bar in the city,” he said.
Wasl Asset management was established by Dubai Real Estate Corporation in 2008. It manages more than 5,500 rooms in the emirate.
In 2015, Washington, D.C.- based Brookings Institution ranked Dubai the world’s fastest growing metropolitan area relative to the national growth rate.