Palm Jumeirah to acquire new $1.5 billion Royal Atlantis resort

Home  /  News  /  Palm Jumeirah to acquire new $1.5 billion Royal Atlantis resort

The Vice President of the UAE and Ruler of Dubai, Sheikh Mohammed bin Rashid, has honored a host of hopeful projects being executed by Investment Corporation of Dubai (ICD) for the next three years. After the finishing point, the projects would give 10% to the national economy.

Palm Jumeirah to acquire new $1.5 billion Royal Atlantis resort

Palm Jumeirah to acquire new $1.5 billion Royal Atlantis resort

Scrutinizing the engineering plan at the Atlantis Hotel on the Palm Jumeirah, in the presence of Sheikh Maktoum bin Mohammed, Deputy Ruler of Dubai, Sheikh Mohammed directed conclusion of the construction by 2018.

Sheikh Mohammed was informed by Mohammed Ibrahim Al Shaibani, Director-General of the Dubai Ruler’s Court, chief executive of ICD and engineering supervisors on the components of every project. He studied components of Royal Atlantis resort at the Palm Jumeirah in Dubai which will cost $1.5 billion.

He also had a meeting from Al Shaibani and his assistants on the Deira Waterfront project to be finished by 2016 which will cost Dh8 billion. It features commercial and residential buildings.

Sheikh Mohammed was briefed about the 1 million square metre Warsan project to be built at Al Aweer road. It will comprise residential buildings and model boarding school. The first phase of the project will be finished in three years, amounting to Dh2.5 billion.

ICD is also increasing, in cooperation with Kerzner International Holdings Limited, the Atlantic Hotel and Resort in Sanya city in Hainan Province, China, set to be the first impressive resort of this size in China, and the third in the world. It will be created on more than 60 hectares of land.

Sheikh Mohammed uttered his esteem and appreciation about the state-of-art expansion plans being executed by the ICD in and outside the UAE, in addition to that these projects will improve and spread the UAE economy. It will reflect the intensity of UAE economy and its capacity to enlarge increasingly.

Mohamed Dekkak