Big news from the UAE today, where SKAI Holdings, the Dubai-based real estate investment firm, began the main structural work on the $1 billion Viceroy Dubai Palm Jumeirah project.
When completed in 2017, the hotel will have 479 rooms and suites and 222 signature Viceroy Residences with views of the Arabian Sea. The property is right at the base of The Palm Jumeirah archipelago, making it easily accessible from mainland Dubai. (It is 15 minutes from the city’s downtown center and close to major tourist and business attractions such as the Dubai Marina and Dubai Media City.)
Foodies will be in luck we hear: The hotel will have dining venues hosted by "world-class chefs" (we're eagerly awaiting some names) and a modern spa. A beach club and a large pool will be complemented by children’s clubs, entertainment and sporting activities.
Kabir Mulchandani, CEO of SKAI Holdings noted that Dubai’s successful Expo 2020 bid is expected to draw in 25 million visitors. "The influx of people will not only benefit the city’s property market, but every other sector including retail, hospitality, tourism and even industry,” he added.
Picture caption: (left-right) Nabil Akiki, CEO Real Estate Development, Skai Holdings Limited LLC; Wu Ming, Executive Vice President, CSCEC; Kabir Mulchandan, CEO, Skai Holdings Limited LLC; and Yu Tao – President and CEO, CSCEC.