"We believe in the future of Dubai, which is one of the world'spremier destinations," says JMJ president Christopher Knable. "Welook forward to this exciting landmark development and…are activelyseeking to do more [in the UAE] now that we have taken thisimportant first step." The project is being developed on a siteowned by the Buildings by Daman.

The JMJ project comes at a time of explosive development in theUAE, with hotel construction expected to increase significantly.According to a report issued recently by Lodging Econometrics,there are 304 hotel projects delivering rooms in 12 Middle Easterncountries through the end of the decade. Of those, 101 projectsaccounting for nearly 42,000 rooms--or 47% of the total units inthe Middle East pipeline--are being constructed in Dubai. That putsthe emirate only second to Las Vegas in the number of rooms beingproduced in a given market, according to LE, which says the UAEregion as a whole is focused on luxury product. NH-based LE says87% of the 101,000 Middle East rooms planned are in establishmentsrated four stars or above, including a number of six- andseven-star rated facilities anticipated for Dubai.

Praising JMJ for possessing "a wealth of ultra-luxuryexperience," Shehab Gargash of Daman Capital Real Estate Partnerssays the company should fit in well with the Dubai lodginglandscape. "The Rosewood brand is an international symbol ofquality and luxury in the hospitality industry," says Gargash,adding, "we see this as not only an important step for JMJ, but astrong signal for heightened investment interest in the region."Luxury elements of the Rosewood hotel will be upscale restaurants,a gala ballroom, state-of-the-art business center and a rooftop spaand fitness center. The 55 condominiums will be available for salelater this year.