Business | Construction
Kerzner gives Atlantis $1b boost
Kerzner International, developer of the Atlantis resort on the Palm Jumeirah is set to boost assets on the Palm to around $2.5 billion (Dh9.2 billion), with designs well underway for a $1 billion expansion of Atlantis, according to a senior official.
- By Suzanne Fenton, Staff Report
- Published: 23:52 September 20, 2008
Dubai: Kerzner International, developer of the Atlantis resort on the Palm Jumeirah is set to boost assets on the Palm to around $2.5 billion (Dh9.2 billion), with designs well underway for a $1 billion expansion of Atlantis, according to a senior official.
The $1.5 billion Atlantis resort only occupies 50 per cent of the land area that Kerzner International owns and there are plans to develop a mixed-use Cove Atlantis on the remaining land.
"We're working on a concept very similar to what we have in the Cove, Bahamas," Alan Leibman, managing director of Kerzner International, told Gulf News. "That's in the design phase right now."
Other elements
"It will be a Cove with other elements. It'll be mixed-use with the hotel and condos and we're right in the middle of design right now," Leibman added.
The total development value is said to be around $1 billion.
With only three days to go until the opening of Atlantis, all hands are on deck to ensure that doors open smoothly on September 24.
"We're excited. I've got to get everybody who had their doubts to see we're opening the doors. We're getting to that final countdown," said Leibman.
The first guest in the Dh92,000-a-night Bridge Suite in the Atlantis will be from Europe and is scheduled to stay four days, according to a senior official.
"It's a great booking because it's a European guest and they're bringing their family out here," Leibman said.
The Bridge Suite spans 924 square metres linking the West and East towers and includes three bedrooms and an 18-seat dining area.
The final trials are also being carried out on the rooms and restaurants before the resort opens.
Despite the fire that broke out at the Atlantis nearly three weeks ago, the resort will open on schedule. The cause of the fire is still unknown.
Of the 1,539 rooms, 500 are booked for the first night, and within two days, 1,200 rooms are booked. Leibman said they were "very comfortable" about their bookings from September to December and into next year, so the success of Atlantis looks positive. "Business has been good," said the managing director.
"There's been a lot of demand for Eid. Right now, we're pretty much getting ready to be sold out for Eid, other than some suites."
Sol Kerzner, chief executive of Kerzner International, said recently that his group was looking to the Gulf region to offset difficulties in the US.
Middle East focus
"We will probably do more things in the Middle East and are considering the Far East, but at the same time, with the econ-omic environment you have to be careful ... but we are in discussions," Kerzner told local media.
Leibman said this Atlantis resort will target a different market from that of the first Atlantis, Paradise Island, in the Bahamas.
"There are more celebrity chefs here and it's geared a lot more to the European market, whereas the Bahamas is 97 per cent plus out of the US market," he said.
"They're both great quality experiences but here we have more lunch, dining experiences," he added.
Share this article
More from Construction
More from Business
Popular in Business
-
XPRESS
Way to go this DSF
A fun-filled route to guide you to all the happening dos in town
Business Editor's choice
-
The brains behind campaigns
Chief executives likely to be guided more by bankers and consultants
-
Leaders blast Britain's green departure tax
UK government pulls out of UN body ahead of Copenhagen summit
-
Emirates could buy more aircraft
Airline plans new routes, expects demand to increase
