Dubai's thriving real estate sector is generating enormous interest among leading Indian hospitality chains like the Taj and the Oberoi groups, reports Khaleej Times.

The Oberois have tied up with a reputed property firm in Dubai to construct a 250-bed luxury hotel at the Business Bay near Burj Dubai.

Ketaki Narain, Director, Corporate Communication, The Oberoi Group, says, "We want to cash in on the boom in the tourism industry in Dubai with an initial investment of US$100 million and the expected project is expected to be operational by early 2009."

The Taj Group will create a US$120 million hotel on Palm Jumeirah, in association with ETA Star, a leading property firm with investments across the Middle East. The venture, Taj Exotica Resort & Spa, will be an exclusive five-star hotel with the latest amenities, whereas the Grandeur Residences and Luxury Residential Apartments, which are also part of the project, would house only residential units maintained by the Taj Group.

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