Lemon Tree International opens first UAE Hotel
The group invested $27m in the property
Lemon Tree International, a subsidiary of Al Waleed Investment Group, has opened its first UAE hotel The Lemon Tree Dubai Hotel, sister publication Arabian Business reported.
The property features 114 rooms, restaurant, an outdoor lounge, conference hall, swimming pool and a wellness centre.
The three-star mid-range property represents an investment value of up to AED100 million ($27.2 million), a statement said.
Mohammed Abdul Razzaq Al Mutawa, CEO of Al Waleed Investment Group, said: "The local market in Dubai in various economic sectors is particularly engaging and has continued to gain interest from international companies that aspire to win the best investment opportunities in light of the growing demand for the local environment."
Rattan Kiswani, deputy general manager of Lemon Tree Hotels & Resorts, said: "We are delighted to enter the hospitality market in Dubai, with the management of the first distinctive hotel facilities in the emirate."