Posted on December 9, 2021
“One and Only Papagayo”: Dubai will build a 7-star hotel in Guanacaste
The Dubai Investment Corporation (ICD) confirmed the development of a seven-star hotel in the Gulf of Papagayo.
The complex will be called “One And Only Papagayo” and will focus on the ultra-luxury segment, for which it will offer 167 rooms and 41 residences.
The news was confirmed by Mohammed Al Shaibani, Minister of the Royal Court of Dubai and Executive Director of the ICD, together with Deputy Director Khalifa Al Daboos. Both had a meeting on Tuesday with President Carlos Alvarado, who is visiting the United Arab Emirates.
“Costa Rica is very grateful to the CDI for taking our tourism infrastructure sector into account in its planning. Improving the tourism industry is an important priority for my government in post-pandemic recovery efforts, ”Alvarado said.
During the meeting, tourism issues were discussed and the ICD announced its intention to explore other niches to exploit in the country.
The Dubai Investment Corporation is the main investment arm of the Emirati government.
Founded in 2006, it manages a wide portfolio of local and international assets, in sectors such as banking and finance, transportation, hotels, among others.