Lemon Tree International invests $27m in first UAE hotel

Lemon Tree International, a subsidiary of Al Waleed Investment Group, has opened its first hotel in the UAE. The Lemon Tree Dubai Hotel on Al Wasl Road in Jumeirah, features 114 rooms, restaurant, an outdoor lounge, conference hall, swimming pool and a wellness centre. The 3-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."

Source: https://www.arabianbusiness.com/travel-hospitality/435172-lemon-tree-international-invests-27m-in-first-uae-hotel

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