Joint MGM, Hakkasan development ‘by early 2017’
Abu Dhabi-owned Hakkasan expects first fruit of partnership within three years, says report
A joint venture between MGM Resorts and the Abu Dhabi-owned Hakkasan Group is expected to launch its first project by early 2017, The National reported.
The two companies last week announced the formation of MGM Hakkasan Hospitality, which plans to design, develop and manage luxury non-gaming hotels, resorts and residential properties.
The group will reportedly develop the properties under the Bellagio, Hakkasan, MGM Grand and Skylofts brands.
The first project is “set to launch in late 2016 or early 2017”, The National reported on Sunday, with plans for resorts in Dubai, Abu Dhabi, Mumbai, Doha and Cabo San Lucas said to be under consideration.
Neil Moffitt, the chief executive of MGM Hakkasan Hospitality, told The National that the company has several projects in various stages of development.
Hakkasan, which was formed in London in 2001, is owned by Tasameem, which is reportedly part of the sovereign wealth fund Abu Dhabi Investment Authority.