The property, consisting of 428 hotel rooms and 192 serviced apartments, is located at the Al Ghurair Centre Complex. Both properties will be managed as part of Accor's Swissôtel and Swissôtel Living portfolio, representing the brand's first move into the UAE.

Located within Deira, the hotel and residences offer access to the Al Ghurair Centre - one of Dubai's first upscale shopping centres, which recently completed an Dh1.8 billion ($489.9 million) expansion.

The hotel and apartments will be managed by AccorHotels before transitioning to Swissôtel & Swissôtel Living by end of 2017 when the first phase of soft refurbishment is completed.

Sami Nasser, chief operating officer, luxury brands at AccorHotels Middle East, said: "The Al Ghurair family plays a leading role in driving Dubai's growth as a global destination, and as such, the iconic Al Ghurair Centre is the best location to debut the city's first Swissôtel and Swissôtel Living. Through this rebrand, we are bringing a new travel experience that is full of energy, passion and vitality - all part of the Swissôtel brand DNA - to the revitalisation of Old Dubai. Along with two notable Swissôtel properties welcoming guests in Makkah, in addition to our flagship Swissôtel the Bosphorus, Istanbul, Al Ghurair Hotel and Al Ghurair Living provide an excellent base and springboard for the future development of the brand in the Middle East."

Sultan Al Ghurair, CEO of Al Ghurair Properties, said: "This landmark agreement, in partnership with AccorHotels, reflects Al Ghurair's commitment to working with best-in-class service providers and to attracting new brands to the UAE. The Al Ghurair Centre comprises of over 350 retail, dining and entertainment outlets, attracting more than 21 million visitors a year. With the rebrand of our hospitality offering, we are proud to include international brands such as Swissôtel & Swissôtel Living as part of the Al Ghurair Centre experience. With 53 real estate projects under development, of which a large proportion are in Deira, the rebranding of the Al Ghurair Centre hospitality offering is a key part of our goal to lead the regeneration of Old Dubai."