Construction to begin on $136m Palm Jumeirah hotel

HOTELIER MIDDLE EAST: R Hotels has confirmed that it has secured AED204 million (US $55.5 million) in funding from the Commercial Bank of Dubai (CBD) to develop a new, sharia-compliant hotel on Palm Jumeirah. Located on the East Crescent of the manmade archipelago, the as yet unnamed property will be a four-star resort and spa, featuring 259 rooms. The first phase of construction will be in the current quarter, and the developer is targeting a completion date in the fourth quarter of 2016.