Movenpick Hotels & Resorts (MH&R), the international Swiss based-chain has announced that it will manage the Dubai Pearl Hotel.

The new 450-room hotel is currently in the final planning stage with an estimated construction cost of $82million. The new hotel is due to open in 2005.

On October 28, 2002, a partnership was forged when Saudi Prince Al Waleed Bin Talal Bin Abdulaziz, Chairman of Kingdom Hotel Investment Group (KHI) and holding 30 per cent of the shares of MH&R and Jamal Abu Issa, chairman of Omnix Group signed agreements to invest $19 million in the property.

Movenpick Dubai Pearl Hotel is ideally located for the business traveller within the Media City Free Trade Zone (TECOM) where it is planned to introduce a new class of quality and technology in a smart hotel. The area comprises the Dubai Internet City, Dubai Ideas Oasis and Dubai Media City, enterprises that have put the Emirate on the global map of the IT industry and e-business. The hotel will reflect the technology bias of its location.

This property will also enjoy a spectacular setting at the foot of Palm Island, the revolutionary multi-billion dollar project to create two islands in the shape of palm trees, which on completion will be the world's largest man-made islands.

Movenpick Dubai Pearl Hotel, offering sea views and targeting the international business traveller, will offer spacious state-of-the art guestrooms, a variety of luxurious suites and apartments all equipped with the very latest conveniences for a trouble-free stay.

Andreas Mattmueller, senior vice-president for Movenpick Hotels & Resorts in the Middle East said, "Being represented in Egypt, Jordan, Lebanon, Morocco, Qatar, Saudi Arabia and Tunisia, Movenpick recognises that Dubai is a valuable addition to its portfolio, as the Emirate has become one of the world's premier tourist and business destinations."