The property, along with a new Crowne Plaza hotel, is in partnership with API Hotels & Resorts. Both are in the Business bay area of Dubai.

"In the Middle East, we are currently engaged in the strategic expansion of the Crowne Plaza brand, as well as growing the footprint of our InterContinental Residence Suites," said Pascal Gauvin, chief operating officer, India, Middle East & Africa, IHG. "In support of these goals, we are delighted to be working with API Hotels & Resorts, an eminent partner with a proven track record in high quality hotel developments across the UAE."

InterContinental Residence Suites Dubai Business Bay will offer 30 studios, 60 one bedroom, 60 two bedroom, and 10 three bedroom suites.

Jassim Al Ali, CEO of API Hotels & Resorts, said: "In order to maximise further growth opportunities in the Middle East, we believe that we need to add a global operator with an internationally recognised brand to our portfolio and IHG, as a market leader with over 5,000 hotels worldwide fits this profile perfectly. "Furthermore, both InterContinental and Crowne Plaza have established reputations around the world, and we're excited to be adding these iconic names to our portfolio here in Dubai.  This is a growing market for hotel development; particularly for business and luxury brands. We're looking forward to providing career-focused business travellers and luxury seeking residents with the finest service across two world-class properties."