Abu Dhabi property developers Tasameem Real Estate and Assas will launch an exclusive 67-room hotel off the emirates’ coast, the firms announced on Thursday.
The developers, with a combined property portfolio of $15 billion, have formed joint venture Zaya and will launch luxury hotel Nurai this month.
The company did not disclose which island Nurai would be constructed on, and no further details were available.
The joint venture will target the high-end property market with Nurai the first in a planned range of exclusive projects, the company said in a statement.
Nadia Zaal, CEO of Zaya, said the newly-formed developer would only create residential and hospitality developments at the highest end of the property market.
“Our research has shown that there is a shortage of the kind of highly sophisticated projects we envision for our company. We intend to remain focused at the highest end of the market and we have plans for expansion into the Middle East, Asia and Europe,” she said.
Zaya’s projects will be known for being the “most stylish living experiences” in the region, she added.
Nurai would offer an exclusive community of limited edition resort beach-front estates and water villas with the services of a boutique resort, she said.
Zaya is also believed to have secured an additional site for a similar project within Abu Dhabi.
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