Dubai-based investment management company Daman is to build a Rosewood luxury hotel at the Dubai International Financial Centre in Dubai, UAE.
The project was revived by Daman after its original New York developer pulled out.
The hotel, which is part of a $435.6m mixed-use project, will also host apartments and offices as part of the city’s financial district.
The opening of the 250-room Rosewood hotel is scheduled for mid-2013.
Rosewood also has a hotel under development by Mubadala on Sowwah Island, which will have 189 rooms and more than 130 serviced apartments, and is due to open in September next year.
Dallas-based Rosewood has 20 hotels and resorts in Mexico and the Caribbean, as well as three hotels in Saudi Arabia.