Jumeirah eyes 7-star hotel in South Korea - reports
by This email address is being protected from spam bots, you need Javascript enabled to view it on Friday, 30 October 2009
Dubai-based hotel group Jumeirah is planning to build the first seven-star hotel and a luxury service residence in Seoul, according to news reports in South Korea.
The Jumeirah Group, which owns the world's only [self appointed] seven-star hotel in the world - the Burj Al Arab in Dubai - is eyeing a $507 million investment in the project in Gwanghawmun, according to a report in the Korea Herald on Friday.
Citing the Maeil Business newspaper, the Herald said the hotel company had established a local agency to be in charge of the construction.
The paper added that the company was working on purchasing land around Gwanghwamun by consulting with Macquarie Finance.
No one was immediately available at Jumeirah to comment on the reports on Friday.
South Korean media quoted a local company representing Jumeirah as saying it had already made a partial payment to a construction company.
READERS' COMMENTS
Posted by JoE, Dubai on Saturday 31 October 2009 at 09:00 UAE time
There is no such thing as a 7 star hotel.
Click here to post a comment
MORE FROM ARABIANBUSINESS.COM
TOP IN MIDDLE EAST TRAVEL & HOSPITALITY
TOP MIDDLE EAST BUSINESS STORIES
ALSO IN MIDDLE EAST TRAVEL & HOSPITALITY
LATEST MIDDLE EAST BUSINESS NEWS
- Sport: Westwood leads Race to Dubai at end of second day
- Politics & Economics: UAE will not drop US dollar peg – cenbank chief
- Politics & Economics: Dubai may see growth of 5% in 2009 - Alabbar
- Politics & Economics: Dubai to act tough on employees’ salary defaulters - paper
- Construction & Industry: Dubai plans start-up help for expat entrepreneurs
SHARE PRICE CHECK
RELATED STORIES
Jumeirah Group
- Dubai's Jumeirah Group plans hotels in Brazil
20 Nov '09 | News - Group dynamics
8 Oct '09 | Interviews




