Raffles International is to open its first luxury hotel in the Middle East following the signing of a management contract with Dubai-based Wafi Group.

The company will manage the US$140m (£73m,108m euros), 240-room Raffles Dubai in Wafi City, which is scheduled for completion in 2007.

The property will be built in the shape of a pyramid and offer nine food and beverage outlets, a ballroom, meeting rooms, a gym and a RafflesAmrita spa as well as a one-hectare Sparkling Botanical Sky-garden created by landscape architectural company, Singapore Garden City.

The agreement follows news earlier in April that Raffles has also reached agreement with Beijing Tourism Group to rebrand and manage two of the four blocks of the Beijing Hotel. Following a refurbishment, the property will be relaunched in 2006. It will be the first Raffles-branded property in China.

Raffles is also to open the Swissôtel Krasnye Holmy Moscow in Russia on 1 July this year.