Dubai Investments Signs Contract With Millennium Hotels & Resorts MEA to Build Copthorne Creek Hotel
Dubai Investments PJSC has signed a partnership with Millennium Hotels & Resorts MEA to commence work on the Copthorne Creek Hotel, a 138-room hotel located in Al Hamriya and the second hospitality real estate project between the two partners who are also working together on a four-star hotel in the Mirdif Hills project.
The facility will be wholly owned by Dubai Investments Real Estate Company (DIRC), and managed by Millennium Hotels & Resorts MEA under an agreement that was signed by Dubai Investments CEO Khalid Bin Kalban and Mr Ali Hamad Lakhraim Alzaabi, President Millennium Hotels & Resorts, in the presence of Obaid Mohammed Al Salami, General Manager Dubai Investments Real Estate Company.
Khalid Bin Kalban said: “This project is a further demonstration of the capabilities we have at Dubai Investments in both construction and real estate, and in parallel it also highlights our diversification strategy as we invest in the hospitality sector, part of our strategy which has seen investment in education, healthcare and more in recent times.
“We are proud to work with Millennium Hotels and Resorts MEA on this, a second project which follows the hotel in Mirdif Hills, and we welcome the opportunity to bring our expertise at Dubai Investments to a new audience – that of the tourist sector who will benefit from the latest significant additions to our real estate portfolio in the hospitality sector.”
Ali Hamad Alzaabi said: “It is an honour to once again enter an agreement with Dubai Investments, through Dubai Investments Real Estate Company. We know that a partnership with a renowned developer of this stature will ensure that this latest addition to our regional portfolio which currently stands at 38 hotels in the MEA region, is of the highest standards offering our guests nothing but the best in terms of service and quality.”
The four-star hotel in Mirdif Hills which Dubai Investments and Millennium Hotels & Resorts are working on offers 116 rooms and 128 serviced apartments as well as creative restaurant concepts, swimming pool, fitness area and meeting spaces.
Millennium Hotels & Resorts is a dynamic, global hotel company, which owns, asset manages and/or operates over 130 hotels worldwide. With almost 40,000 rooms globally, the company is present on all continents with a portfolio of brands which include The Biltmore collection, Grand Millennium, Millennium Resorts, M Social, Millennium Place, Copthorne, M Hotel, Kingsgate, and Millennium Executive Apartments.
Dubai Investments PJSC is a leading public joint stock company listed on the Dubai Financial Market with over 16,771 shareholders and a paid-up capital of AED 4 billion. Incorporated in 1995, the Company has grown exponentially with investments in a number of businesses across a number of sectors, ranging from real estate, processing industries, mergers and acquisitions, healthcare, education to financial investments in the UAE and the Middle East. Dubai Investments continues to create positive economic impact and long-term value for its stakeholders by investing in sustainable, growth sectors in markets across the globe.
Millennium & Copthorne Hotels
Millennium Hotels and Resorts was founded in 1989, on the vision of its Chairman, Kwek Leng Beng, who leads Singapore’s Hong Leong Group.