The Palm Jumeirah is set to get its first Sharia-compliant hotel.
R Hotels, the hospitality arm of Ajman-based R Holding, expects to open its 259-room four-star resort in the fourth quarter of 2016.
Earmarked for an investment of Dh500 million, the hotel will be the second four-star property after Byblos Hospitality said earlier this year it is building a 144-room, Dh180 million Byblos Palm Jumeirah Hotel on the trunk of the island.
The Ajman company’s property will be located on the East Crescent of Palm Jumeirah.
R Hotels owns and manages Ramada Hotel and Suites Ajman, Ramada Beach Hotel Ajman, Ramada Downtown Dubai, and Hawthorn Suites by Wyndham in Jumeirah Beach Residence.
As part of its Dh1.5 billion investment plan announced last year, R Hotels is also building its fifth hotel on Al Mina Road in Jumeirah that is expected to open in the second quarter of next year.
The average daily room rate in Dubai last month was Dh1,034.57 across luxury to economy segments, according to the monthly data from STR Global, even as supply outstripped demand. The rates, however, decreased by 1.6 per cent year-on-year.
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