Reef to launch two new hotels this year

Dubai: UAE-based Reef Real Estate Investment Company will launch two new hotels as part of its two Dh600 million mixed-use developments in Dubai this year.

The hotels will be operated by Corp Executive Hotels, a local hotel management company in which Reef has a stake.

At present Reef owns one four-star Corp hotel, a 90-room property in Dubai's Barsha area. The company invested Dh120 million in the hotel, which opened recently.

It has just launched another Corp hotel as part of a Dh350 million commercial tower and shopping complex in Business Bay.

Construction will begin in October this year and the whole Corp Executive Hotel and Offices Tower project will be completed in August next year.

The two new hotels will be built in Jumeirah South Village and Dubai Waterfront, Reef managing director Shaikh Ahmad Mohammad Al Nahyan told Gulf News.

"Dubai is essentially a business hub so it needs hotels that cater specifically to business travellers," he said.

Corp, a venture between Coral International Hotels, Resorts & Spas and Reef, will operate alcohol-free hotels that will focus on attracting short-stay travellers.