Jumeirah enters Germany with deal on MAB's Frankfurt City Hotel

Dubai-based luxury hotel company Jumeirah and Dutch property developer MAB are teaming up to launch a new five-star city centre hotel in Frankfurt's PalaisQuartier district. Jumeirah said on Wednesday that it has signed a lease for the hotel element of the city's major new PalaisQuartier leisure and retail development, a project of MAB Development.

The agreement will see the 219-room luxury hotel opening in mid-2010 alongside the launch of the 112,000 m² PalaisQuartier mixed use office and retail complex.

'We are delighted to be entering the German market with such a prestigious and high-profile property and look forward to bringing the luxury and quality that so many German visitors to Dubai have experienced with Jumeirah right to their doorsteps,' said Gerald Lawless, Executive Chairman of Jumeirah Group.

PalaisQuartier is located in the heart of Frankfurt at the Thurn-und-Taxis-Platz, within walking distance of the city's financial district and stock exchange, pedestrian shopping areas and opera house. The mixed-use development includes the reconstructed baroque 18th century Thurn und Taxis Palais and a 48,500 m² retail development, some 42,000 m² of premium office space and the 22,000 m2, 25-floor Jumeirah Hotel Frankfurt.

The retail component, called MyZeil and designed by Massimiliano Fuksas, recently opened with great success. It is fully let and attracted over one million visitors during the first two weeks after opening.