Investment Corporation of Dubai (ICD) and Kerzner International Holdings Limited has unveiled a $1.4 billion plan to add more rooms, suites and luxury residences to its Atlantis development.
H.E. Mohammed Ibrahim Al Shaibani, executive director and CEO of Investment Corporation of Dubai and chairman of Kerzner International, said the development is to help prepare for the Expo World Fair in 2020.
Al Shaibani said, “This next phase of Atlantis, including the luxury residences of The Royal Atlantis, will continue to drive the growth of Dubai forward.
“This investment reaffirms ICD’s commitment to support the long-term growth of our domestic hospitality market, a key pillar and growth sector for the Dubai economy.”
The expansion will see approximately 800 new guest rooms and suites added with architecture by Kohn Pedersen Fox Associates (KPF) and interior design by GA Design. A further 250 luxury residences will be added, with architecture by Sybille de Margerie Design.
An ‘ultra-pool’ will be added 90 metres above the ground to create a beach club experience like no other.
Alan Leibman, CEO, Kerzner International said, “The success of Atlantis, The Palm has continued to exceed our financial performance expectations year on year and the time is right to usher in the next phase of this iconic development.
“The Royal Atlantis Resort and Residences will offer a new resort living experience, completely taking it to the next level, while adding an entirely new dynamic with our ultimate residences.
“As we continue to focus on our global growth strategy, we are thrilled to be making such a significant impact in Dubai, and to be building off the success of the Atlantis brand, which has been so well-received from guests from all over the world.”