Report - WT2005: A large investment from Dubai in central Istanbul is planned to create Turkey’s new multi-use complex – which will include a hotel, offices, apartments, and retail space in two 300m-high towers.

The Dubai Towers Istanbul is being developed through an 80:20 deal between Dubai International Properties, a subsidiary of Dubai Holding (DH), and the city of Istanbul. It is due to open at the end of 2008; the hotel operator has not yet been selected.

DH earlier announced a similar complex in Qatar - Dubai Towers Doha - and it also has plans to develop upscale resorts in Morocco and Oman. Through other DH companies, the group has completed several other high-profile investments in tourism enterprises this year - Tussauds Group in the UK among them - and it is again making headlines with a bid for P&O.