Abu Dhabi National Hotels (ADNH) has signed an agreement with Estithmaar to acquire a 450-bedroom beachfront hotel within the Jumeirah Beach Residence Development in Dubai, it was announced.
“The hotel will offer guests 450 well-appointed rooms and suites, all sea facing, plus a range of conference and banqueting facilities and catering outlets,” said Abu Dhabi National Hotels chairman Khalifa Nasser bin Huwaileel Al Mansoori.
The project is expected to be completed within three years, he said.
Estithmaar Realty chief executive officer Hashim Al Dabbal said the Jumeirah Beach Residence offers an “outstanding location and quality real estate at competitive pricing which is the reason that the investors are showing a lot of interest in the project”.
Khalifa Nasser bin Huwaileel Al Mansoori added: “We have been considering for some time a project in Dubai and have assessed many potential opportunities.