India-based Taj Group of Hotels has signed an agreement to operate a second luxury hotel in Dubai, a top company official said.
The agreement is part of the Taj group's expansion plans in the Middle East, said Rajiv Gujral, chief operating officer and vice president of Taj's international luxury hotels division, during a visit to Dubai.
"We are pleased to announce that we have signed a 20-year management contract to operate a new five-star deluxe business hotel on the Shaikh Zayed Road and further plans for a beach property in Dubai are currently being developed," Gujral said.
Investment in the new Taj hotel on Shaikh Zayed Road will be between $50-$55 million and the hotel will offer 320 rooms, four food and beverage outlets, banqueting facilities, a spa and a health club and will serve alcohol.
The new hotel is scheduled for completion mid-2003 and will be named either Taj Towers or Taj Residency. The Taj Group is also looking at developments in Bahrain, Qatar and Saudi Arabia.
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