Cinnovation plans $200m project at The World, Dubai |
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Cinnovation plans $200m project at The World in
Dubai: Cinnovation Group, a leading Singaporean conglomerate has
acquired 'Nova Island' located at Nakheel's 'The World' project in
Dubai, with plans to develop a real estate project focusing on
hospitality industry. The company is building the hospitality haven on
the 400,000 square foot island – a project valued at US$200 million in
partnership with Dubai-based ‘Global Realty Partners’ (GRP) Group.
“Cinnovation
selects the most exotic locations and the most reputed partners for its
hospitality ventures. One of man’s greatest achievements in
development, Nakheel’s ‘The World’ is an engineering master-piece that
is quickly evolving into a one-of-a-kind destination, and therefore, is
the ideal location for Cinnovation’s first hospitality project in the
Middle East region.” said Varun Chaudhary, Director of Cinnovation’s
Dubai operations.
The hospitality arm of Cinnovation Group
owns luxurious resorts in Maldives, Sri Lanka and Malaysia. The planned
development will have palm-thatched guest villas built entirely over
water, with private sun decks that open out onto the Persian Gulf. Work
on the real estate project in Dubai is expected to commence later this
year.
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