Sharjah Asset Management, the investment arm of the Sharjah government, and IHG Hotels & Resorts have signed an agreement to bring voco hotel to Sharjah.

The 191-room voco hotel, IHG's newest premium brand, is expected to open in 2027, the companies said in a joint statement.

The hotel's cost and construction timeline were not given in the statement.

Waleed Al Sayegh, CEO of Sharjah Asset Management, said the new voco hotel will be a qualitative addition to the company's portfolio in the hospitality sector and add value to the overall tourism industry in the emirate.

Sharjah Asset Management owns four major projects: Souq Al Jubail, Al Saja'a Industrial Oasis, Souq Al Haraj, and Souq Al Hamriya.

It has also invested in joint ventures with UAE and regional companies, including Air Arabia, Sharjah Islamic Bank, Dana Gas and Sudatel Telecom Group.

(Writing by P Deol; Editing by Anoop Menon)

(anoop.menon@lseg.com)