Planet Group, one of the leading service-based conglomerates, has announced plans to start the construction of a Dh1 billion ($272 million) hotel and apartment complex, in the Danat area of Abu Dhabi.

The Dubai-based group presently operates and manages the award-winning Arabian Courtyard Hotel & Spa, the unique Orient Guest House, the Galaxy Plaza Hotel and entertainment complex under its large portfolio of diverse companies.

It has now roped in Architectural and Engineering Consultants Offices (AEC), the master developer of Al Qudra Holding for Danat Abu Dhabi, as its design consultants.

The new hotel will have 400 rooms and a convention centre along with a 400-unit, 23-floor apartment complex. The property will be operational by 2010, said a company official.

Since its launch, Planet has been an industry innovator, achieving many benchmarks which are remarkable for such a young and developing unit that has only completed a decade of operations, said Planet Group chairman, George Moussa.

“We are about to finalise our deal with an international hotel chain which will manage the upcoming property. Our new branded projects will go a long way in promoting best practices in the hospitality industry as we believe in offering guests a multitude of choices making their stay both enjoyable and memorable,' he added.

The group’s strategy for 2008 focuses on looking for innovative ideas and improving existing services within the hospitality division, while maintaining an average annual growth rate of 35 per cent.

'The group sees the Middle East as a vital market. We wish to benefit from its strong potential and boost our presence further in this market,' he noted.

The project was launched last year to construct the five-star hotel and serviced apartments at a total cost of Dh600 million.

The new design of both the hotel and the apartment complex was unveiled at the Planet Group Stand at the recently concluded ATM.-TradeArabia News Service