The Kingdom Hotel Investment Group (KHI) and Omnix International have agreed to invest in the proposed 450-room Mšvenpick Dubai Pearl Hotel. Together, KHI and Omnix will invest a total of $19 million in this landmark project currently under development planning.
KHI chairman Prince Alwaleed Bin Talal and Omnix chairman Jamal Abu Issa signed the deal in Dubai. The hotel will be managed by the Swiss international chain Mšvenpick Hotels and Resorts, and is located within the Media City Free Trade Zone (TCOM), at the foot of the new Palm Island development in Dubai.