Armani Hotel Dubai is expected to open doors by end 2009, said a source.
"Realistically speaking, the hotel will welcome first its guest by the end of the year," he told Emirates Business.
Construction work on the roads leading to and from Burj Dubai, where the project is housed, is complicated and will take time, he said.
Despite being contacted, Emaar did not comment at the time of going to press.
It will have 160 rooms, while the 144 Armani residences will be located on levels nine to 16 of Burj Dubai.
The venture is a collaboration between Emaar and Giorgio Armani.
In 2007, Armani said: "The spectacular Burj Dubai development will be the location for the world's first Armani Hotel."