Dubai’s Juma Al Majid Group has opened a new hospitality arm which will take over operations of the Taj Palace Hotel in Deira, now rebranded as Jood Palace Hotel.

Jood Hospitality – the newly formed division – will manage the five-star hotel, which has been owned by the UAE-based conglomerate since it opened 14 years ago. The handover of the property from India’s Taj Hotels Resorts and Palaces to Jood Hospitality marks Juma Al Majid’s first step into the sector, the company said in a statement.

The Jood Palace Hotel Dubai has been fully repurposed, and no changes have been made to its operational staff. Founded in 2001, the property features 147 rooms, 12 suites, and 90 serviced apartments, as well as F&B outlets and meeting and convention facilities.

In a statement announcing its exit from the hotel, Taj Hotels Resorts and Palaces did not specify the reason for the move.

“By virtue of a mutual agreement reached between the erstwhile partners, Taj Palace Hotel, Dubai, which has been successfully run by Taj Hotels Resorts and Palaces since 2001, will be handed back to the Juma Al Majid Group,” the statement said.

The Juma Al Majid Group, which began operating in 1950, has diverse business interests including automotive, heavy equipment, trading and manufacturing, contracting and services, and FMCG.