Italian designer and fashion magnate Giorgio Armani has struck a deal with Dubai developers EMAAR Properties to build seven luxury hotels and three resorts in Dubai, Milan, London and New York.
The property developer has pledged to invest $1bn over three years in the projects. EMAAR will be responsible for the property and running the hotels, while Armani will oversee content, design and style.
The first hotel is to open in 2008 at EMAAR's Burj Dubai project, the world's tallest commercial and residential building. It will contain 175 rooms and suites, as well as 160 Armani-designed apartments.
The companies are to open six hotels and two resorts in the next five years.
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