Burooj signs deal for luxury time share suites

Dubai: Burooj Properties, the real estate investment arm of Abu Dhabi Islamic Bank, has signed an agreement with hotel operator group Millennium & Copthorne to manage the 164-room luxury Burooj Suites in Dubai.

Adel Al Zarouni, managing director of Burooj, said the luxury furnished suites will be offered on a timeshare investment basis.

"We see tremendous opportunities in this particular segment of the market. We are optimistic the property will add to the diverse range of the UAE's tourism industry," he said.

"With Millennium & Copthorne Group's expertise and track record, we are sure the group will offer guests at the Burooj Suites true value for money," Al Zarouni added.

Burooj Properties is engaged in both local and international project investments.