Gulf Construction Online - Atlantis grows in scope

UAE Focus

Atlantis, The Palm ... a $1.1 billion project.

Atlantis grows in scope

01 July 2004

The developers of the proposed Atlantis, The Palm Dubai have decided to increase to scope of the development to include a second 800-room hotel tower, bringing the total number of rooms to 2,000.

The development costs are expected to increase from the previously announced $650 million to $1.1 billion.
The project is being jointly developed by Istithmar, a leading investment house based in Dubai, and Kerzner International Limited, a leading international developer and operator of destination resorts and luxury hotel properties.
The revised development plan is expected to utilise most of the 120-acre site that lies on The Palm, Jumeirah. The marine and entertainment attractions will also be increased.
Sultan Ahmed bin Sulayem, chairman of Istithmar, said: “The increase of our investment in Atlantis, The Palm reflects our overwhelming confidence in the success this unique project will bring and is truly the realisation of the full potential of Atlantis, The Palm.”
Butch Kerzner, chief executive officer of Kerzner, said: “Dubai is a thriving tourist destination and it is because of the strength of tourism in Dubai that we are accelerating the scope of development of Atlantis, The Palm.”
“We are really excited with some of the concepts that we have designed for our second Atlantis product, which will continue to build on what we have learned and developed at Atlantis, Paradise Island,” he said.
Atlantis, The Palm is currently undergoing infrastructure development in anticipation of future projects. Once completed, Atlantis, The Palm will be Kerzner’s second-branded Atlantis resort and will be positioned to serve as the anchor for The Palm, Jumeirah as well as a leading attraction in Dubai.