Luxury hotelier Jumeirah Group signed a deal to manage its first property in Morocco, a new luxury golf and polo resort south of Marrakech, which includes three hotels. The firm, part of government-owned Dubai Holding, said the resort would open in three stages, starting January 2013. In addition to the five star hotels and golf course, the resort will include a souk and 50 luxury residential villas.

The Jumeirah Group, which runs Dubai's sail-shaped Burj Al-Arab hotel among others, gave no financial details.

The company said last October it would have 60 properties either in operation or under development by 2012 as it expands outside its home market in the United Arab Emirates in a bid to rival other international hotel operators.

In April, the luxury hotelier said it was still "committed" to its global expansion program despite the financial downturn.

Jumeirah Group's mother company, Dubai Holding, owned by the ruler of the emirate, said in August it will reorganize its business into four operating units in a bid to cope with the impact of the global economic crisis.

The four groups will be property, business parks, hospitality and investments, while the company previously consisting of seven separate ones.