Date: September 2018
Location: Deira Creek, Dubai, UAE
Name: Taj Deira Creek – opening 2022
No. of Keys: 200
Seller: The new Taj hotel is a Greenfield project as part of Deira Waterfront Development – one of Dubai’s rejuvenation projects.
Buyer: Ithra Dubai LLC, a wholly owned subsidiary of Investment Corporation of Dubai (ICD), in partnership with Taj.
Puneet Chhatwal, Managing Director and Chief Executive Officer at The Indian Hotels Company, IHCL – parent company of Taj said: “The Middle East is a significant market for IHCL.
We are honored to partner with Ithra Dubai for this new hotel in Deira – the historical and cu .. cultural center of Dubai. IHCL has a long tradition of managing marquee hotels with rich heritage links across the world.”
Issam Galadari, Chief Executive Director, Ithra Dubai LLC, said, “We are delighted to partner with The Indian Hotels Company Limited and look forward to working with them to bring the iconic Taj brand to the Deira Waterfront Development in Dubai.”
IHCL also operates Taj Dubai in downtown Business Bay and has two new hotels, Taj Jumeirah Lake Towers and Taj Exotica Resort & Spa, The Palm, Dubai opening in late 2018 and 2019 respectively.
THPT Comment: Four in Dubai, that’s a bold move for Taj.
First Seen: Economic Times of India