MGM Mirage To Help Build $3 Billion Resort In Abu Dhabi By 2012

Casino operator MGM Mirage Inc. says it will help build a $3 billion mixed-use hotel resort in Abu Dhabi with the government's development firm, Mubadala Development.

The property is expected to open in 2012.

The project is planned to be built on 50 acres of land at a downtown waterfront site on Abu Dhabi Island, and consist of an MGM Grand hotel and two other MGM branded luxury hotels with more than 1,200 rooms.

It will also feature an entertainment facility, retail shops and restaurants, waterfront residences and private yacht berths.

MGM Mirage will develop the project and lend its brand to the properties while Mubadala will own it.

The companies say the property, aimed at the high-end market, will have "unparalleled views of the city skyline" and "stunning panoramic views of the waterfront."

The MGM Grand Abu Dhabi is the first project of the joint venture firm called MGM Mirage Hospitality, which the companies formed in April to develop non-gambling hotels and resorts globally, initially targeting Abu Dhabi and Las Vegas.

The companies first reported discussing the joint concept in December 2006.

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