Real Estate News | Middle East and Africa Vacation News
First Rosewood in Abu Dhabi Set to Open in May
By Francys Vallecillo | April 17, 2013 11:01 AM ET
The first Rosewood Hotel in Abu Dhabi is scheduled to open on May 1, executive director of Mubadala Real Estate and Infrastructure Ali Eid Al Mheiri told The National.
The 189-room five star hotel is part of Mubadala's Al Maryah Island development, which was formally known as Sowwah Island. The 114-hectare project, which is still in the early stages of development, is designed as Abu Dhabi's new financial district, including the home of the Abu Dhabi Stock Exchange.
Designed by Handel Architects, the Rosewood hotel features floor-to-ceiling windows with views of the Arabian Gulf in every room, according to the hotel website. The hotel also includes 1,636 square meters of meeting space and nine restaurants and lounges.
The hotel will also have 140 serviced apartments according an announcement from Dallas-based Rosewood Hotels & Resorts.
The hotel opening will represent a milestone for the Dh4 billion ($1.089 billion) Al Maryah project, which has been in development for six years. But the project has progressed slower than expected, faced with the development issues that affected projects throughout the UAE.
The Abu Dhabi Securities Exchange was scheduled to move in to its new headquarters last year, but it still hasn't happened.
Mubadala, the investment arm of the Abu Dhabi government, hopes to create a financial district similar to Canary Wharf in London or La Défense in Paris.
Mubadala said this week it has leased 92 per cent of the office space in its 40,000-square-meter Al Silla office tower and 82 per cent of its 45,000-square-meter Al Maqam office tower.