The Investment Corporation of Dubai (ICD) has announced a management agreement with Kempinski Hotels to operate a new five-star hotel and serviced apartments in Dubai.

The hotel is being built at One Za’abeel, the iconic 36-storey mixed-use development launched recently by the ICD.

The management agreement was signed by Mohammed Al Shaibani, director-general of the Ruler’s Court and executive director and chief executive officer of Investment Corporation of Dubai and Ulrich Eckhardt, president – Middle East & Africa of Kempinski Hotels.

The One Za’abeel Kempinski Hotel, which will open in 2011, is part of the unique three-tower One Za’abeel complex, located at the Dubai World Trade Center roundabout. It will also include a residential tower with 450 apartments and a commercial tower offering 500,000 sq ft of office space. The three separate towers will be inter-connected at the top with a common retail podium covering an area of 270,000 sq ft connecting the three towers at the ground level.

The One Za’abeel Kempinski Hotel will have 370 guest rooms and 18,000 sq m of meetings and conference space in addition to 133 serviced apartments. Set to become a primary destination for conferences and meetings, the hotel will contain six meetings rooms, two ballrooms, a fully-equipped business lounge and many pre-function rooms with parking space for over 3,500 cars. -TradeArabia News Service