The agreement, recognised by Nakheel Chairman Ali Rashid Lootah and Sébastien Bazin, Chairman and CEO of AccorHotels at a signing ceremony at the International Luxury Travel Market (ILTM) in Cannes (France) will lead to the opening of PALM360, a spectacular two tower development on the world famous Palm Jumeirah comprising of the Raffles The Palm Dubai Hotel and Raffles Residences PALM360.

Set to open in 2021, PALM 360 will be the first beachside resort for Raffles in Dubai and the tallest structure on Palm Jumeirah. At almost 260 metres high, PALM360 will offer unobstructed views of Palm Jumeirah, the spectacular Arabian Gulf coastline and Dubai skyline.

Its centrepiece will be a 155m long sky pool, connecting the towers 170m above the ground, from where guests can also enjoy these uninterrupted views from a unique vantage point.

The hotel component will offer 125 hotel rooms and suites, whilst the 359 branded residences – including 16 branded penthouses that will each have their own private infinity pool, gym and cinema – will be available for purchase.

The hotel and residential complex will feature a host of high end dining outlets, including two rooftop restaurants commanding sweeping views and a waterside restaurant in a spectacular poolside and beachside setting.

A speciality restaurant will provide a venue for lavish culinary presentations throughout the day and a specially-designed lobby lounge will serve top-flight fare in luxurious surroundings.

“We are committed to playing a key role in realising the Government of Dubai’s vision by continuing to deliver unique, landmark projects that reinforce Dubai’s position as a world-class destination for living, business, leisure and tourism," comments Nakheel Chairman, Ali Rashid Lootah.

“Palm Jumeirah has quickly evolved into one of the most sought-after addresses in the world, offering the ultimate in luxury living and leisure. PALM360 will further enhance the island’s global appeal, which already attracts millions of visitors each year.

We are delighted to partner with AccorHotels for this awe-inspiring development that will take our rapidly-growing hospitality portfolio to new heights, and become the luxury destination of choice for discerning travellers the world over."

Sébastien Bazin, Chairman and CEO of AccorHotels, adds: “Today’s announcement in collaboration with Nakheel marks the much-anticipated expansion of one of our most illustrious luxury brands as well as a new momentum in our great partnership relation with Chairman Ali Rashid Lootah whom I would like to thank for his support and confidence.

"The development of Raffles The Palm Dubai Hotel and Raffles Residences PALM360 not only cements our luxury portfolio on a landmark leisure destination but also demonstrates our dedication to developing the most distinct hospitality concepts.”