By: Amr Adel
Dubai - Mubasher: The CEO of DXB Entertainments, Raed Kajoor Al-Nuaimi, said that his company is currently in negotiations with a number of investors and developers for partnerships in new hotel projects.
Al-Nuaimi added in an interview with Mubasher on Monday on the sidelines of the Arabian Travel Market in Dubai that this comes as part of the company’s efforts to raise its total number of hotel rooms to 2,000.
The company will finish the first Legoland branded hotel in the Middle East by 2019, with a capacity of 250 rooms.
He expects the second phase and the opening of Six Flags Dubai in the fourth quarter of 2019, noting that work on infrastructure has begun.
When asked about the finance plan, the CEO revealed that the total cost amounts to AED 2.6 billion of which AED 990 million will be provided through bank loans, while the rest will be from a capital hike next year.
DXB Entertainments is currently not interested in listing its stock in a stock exchange other than the Dubai Financial Market (DFM), said Al-Nuaimi.
The CEO negated rumors about listing the company’s stock on the Saudi Stock Exchange (Tadawul).
It was only a suggestion by a shareholder during the latest general assembly meeting, he explained.
However, according to Al-Nuaimi, the company’s board will discuss the pros and cons of double listing during its next meeting.
