Dubai-based Emaar Properties has unveiled plans to construct a 340-meter (1,115-foot) mixed use tower in downtown Dubai. The tower will include a 200-room hotel and 542 apartments. Construction is scheduled to begin in 2015.
The sale of apartments will start on September 22, said Arif Amiri, CEO of Emaar Retail, Bloomberg reports.
“Our hotel occupancy in the area is around 90 percent all year long, which shows the strong demand for hospitality in Dubai,” Mr. Amiri said at a press conference on Sunday. “There is strong interest from investors in the Gulf, Russia, China and the Middle East.”