Emaar to build five-star Dubai hotel
September 16 , 2012
Emaar Properties, developer of the world's tallest tower in Dubai, plans to build a new hotel in the city.
The hotel project will be its first major one since the start of the emirate's property crisis in 2009.
Emaar said the construction of the five-star hotel will be financed primarily through pre-sales of serviced apartments.
"The hotel we're launching today represents an opportunity to capture the interest we're seeing from Dubai, (the Gulf), Middle East, Indian subcontinent, China and Europe," Arif Amiri, chief executive of Emaar Retail, told reporters at the launch on Saturday.
Amiri did not state a value or costs for the project.
The hotel will have 200 rooms and 542 serviced apartments. Apartment sales begin on September 22.