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Banyan Tree to partner Abyaar in Acacia project
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Asian-based resort and spa operator Banyan Tree Hotels & Resorts has partnered with Kuwait-based property development company Abyaar to build its brand presence in the United Arab Emirates (UAE).
Abyaar recently entered the UAE market with a capital investment of US$1.4bn (1.08bn euro, £0.7bn) in another property.
It is to build the first freehold development in the Jumeirah district of Dubai, called Acacia Avenues.
Under its Angsana brand, Banyan Tree will service and manage the upscale development. Paul Chong, assistant vice president for business development for Banyan Tree Holdings, said: “Abyaar and Angsana have found an ideal partnership, working together to grow Acacia Avenues as the top lifestyle destination in Dubai and beyond.”
The development has been designed as a gated community, complete with a high-end spa, apartments, a health club, swimming pools, a squash court, cafés and restaurants.
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Asian-based resort and spa operator Banyan Tree Hotels & Resorts has partnered with Kuwait-based property development company Abyaar to build its brand presence in the United Arab Emirates (UAE).
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