One of Dubai’s most famous hotels, the Atlantis on the Palm Jumeirah, is about to spend $100 million “or even more” on renovations, a senior executive at the resort has said.
Serge Zaalof, president and managing director of Atlantis, told Arabian Business that the revamp will include a full renovation of the hotel’s rooms, as well as the launch of a new “family and children activity project” of 2,200 square meters within the existing Atlantis site.
The hotel is currently in the mock-up stages to finalize the new room designs, which are being upgraded eight years after the Atlantis opened.
In 2014, Investment Corporation of Dubai (ICD), which has a 46 percent stake in the Atlantis hotel’s owner, Kerzner International, unveiled plans for a second branded hotel on the Palm Jumeirah.
Master developer Nakheel has already signed building contracts with Ssanyong Engineering & Construction, China State Construction Engineering Corporation and Six Construct.
In February this year, Bloomberg reported that ICD was seeking a $700 million, 10-year loan to fund the construction of the second Atlantis resort.
Source: Arabian News