$1.4bn Royal Atlantis on Palm

Investment Corporation of Dubai (ICD),  the investment arm of the Government of Dubai, and Kerzner International Holdings Limited, the international developer and operator of destination resorts and luxury hotels, have unveiled the $1.4 billion Royal Atlantis Resort and Residences in Dubai.

Located on the crescent of The Palm, next to the Atlantis resort, the project will include nearly 800 new guest rooms with architecture from Kohn Pedersen Fox Associates (KPF) and interior design by GA Design.

The 46-storey development will also feature 250 luxury residences, designed by Sybille de Margerie Design.

"This next phase of Atlantis, including the luxury residences of The Royal Atlantis, will continue to drive the growth of Dubai forward," said Mohammed Ibrahim Al Shaibani, Executive Director and CEO of ICD and Chairman of Kerzner International.

"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."

A new sky pool will soar almost 90m above The Palm, offering the ultimate ultra-pool experience with Dubai city views.

"The success of Atlantis, The Palm (the 1,500-room, water-themed resort on The Palm, overlooking the Arabian Sea and mainland Dubai) 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," said Alan Leibman, Chief Executive Officer, Kerzner International.

"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."

Follow Emirates 24|7 on Google News.