Announcing the formation of Nakheel Hotel & Resorts, Sultan Ahmed Bin Sulayem, Nakheel's executive chairman, says, "The formation of Nakheel Hotel & Resorts marks an important step forward for our group. Through our developments such as the Palm and the World, we are playing a major role in the transformation of Dubai into a leading 21st century tourism destination. By capitalizing on our expertise and the brand value of the group's existing assets, the new company will create a conduit of opportunities and further enhance value by taking advantage of new market opportunities on a regional and international basis."
The company has built its fortune on the back of development in Dubai, one of the fastest growing cities in the world. One of its most ambitious projects is the Palms there. It is also the site for the world's largest mall and tallest building, both of which are also Nakheel projects.
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