Investment Corp. of Dubai & Kerzner International Plan $1.4B Expansion of Atlantis Resort in Dubai
DUBAI, United Arab Emirates - September 15, 2014 - Investment Corporation of Dubai (ICD) and Kerzner International Holdings Limited ("Kerzner"), a leading international developer and operator of destination resorts and luxury hotels, today unveiled plans to forever enhance the landscape of Dubai with The Royal Atlantis Resort and Residences. Located on the crescent of The Palm and next to the iconic Atlantis resort, this new generation of distinctive luxury will offer a sophisticated lifestyle experience, edgier than any resort in the region, with infinite ocean views, accented with lush green spaces, encapsulated in dramatic architecture.
"This next phase of Atlantis, including the luxury residences of The Royal Atlantis, will continue to drive the growth of Dubai forward," commented H.E. Mohammed Ibrahim Al Shaibani, Executive Director and CEO of Investment Corporation of Dubai ("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." H.E. Mohammed Al Shaibani reiterated the importance of this investment for Dubai and its strengthening hotel and tourism industry as the Emirate prepares to host the Expo World Fair in 2020.
Features of the new project will include:
- An approximate total investment of $1.4 billion in the resort expansion and amenities.
- Nearly 800 new guest rooms and lavish suites with spectacular architecture from Kohn Pedersen Fox Associates (KPF) and interior design by GA Design.
- 250 luxury Residences that will redefine the leisure residential experience in Dubai, designed by Sybille de Margerie Design, providing exclusive doorstep access to exciting restaurants and entertainment, as well as unsurpassed resort experiences with definitive signature service.
- The Royal Atlantis Resort will stand 46 storeys tall and feature spectacular ocean and Palm views, allowing guests to feel that they are literally floating between the sky and sea.
- Introduction of revolutionary play between fire and water.
- The chic new Sky Pool will soar almost 90 metres above The Palm, offering the ultimate Ultra-Pool experience with Dubai city views.
- New, never before-seen marine experiences.
"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," commented 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."
Guests and residents will be able to enjoy a variety of unique amenities, from soaring private gardens and private infinity pools overlooking the ocean and The Palm, to the Sky Pool, an Ultra-Pool with a variety of cutting-edge experiences to the ultimate Beach Club. Known for innovative food and beverage concepts, Kerzner International will unveil new world-class restaurants with award-winning celebrity chefs, as well as incredible new entertainment experiences. Luxury retail boutiques will be curated to offer a wide and interesting selection for shopping pleasure. The destination will also house an indulgent Spa, introducing traditional and holistic practices fused with modern spa therapies, as well as a cutting-edge fitness centre. Younger guests will experience their own adventures, from discovering exotic marine life, to culinary lessons, to the latest in gaming. In addition, event space will be available for both large and small gatherings, whether for business or for pleasure.
Atlantis has always redefined destinations and introduced awe-inspiring and never-before-seen experiences, and this next phase of development is no exception. Revolutionary water play and interactive marine experiences will be unveiled for both residents and guests alike. This innovative resort with luxury residences will re-interpret the myth of Atlantis while unveiling ground-breaking experiences.
About ICD
ICD was established in May 2006 under a mandate to consolidate and manage the Government of Dubai's portfolio of commercial companies and investments; and provide strategic oversight to the portfolio. By way of developing and implementing investment strategy and corporate governance policies with an objective to maximize stakeholder value, for the long-term benefit of the Emirate.
ICD, as the investment arm of the Government of Dubai currently has a portfolio that represents a cross-section of Dubai's most recognised companies, in sectors that the Government of Dubai has deemed to be strategic for the continued development of the Emirate. The sectors include: Financial services, Transportation, Energy and Industrial, Real Estate and Leisure, Retail and other Holdings.
For more information about ICD please visit www.icd.gov.ae
About Kerzner International
Kerzner International Holdings Limited, through its subsidiaries, is a leading international developer and operator of destination resorts, ultra-luxury hotels and residences and innovative entertainment and gaming experiences. Kerzner's flagship brand Atlantis, includes Atlantis, The Palm, Dubai, a 1,500-room, water-themed resort on The Palm, overlooking the Arabian Sea and mainland Dubai; and Atlantis, Sanya Hainan in China, under development. Under the One&Only brand, Kerzner manages eight of the top-rated luxury resort properties in the world, located in The Bahamas, Mexico, Mauritius, the Maldives, South Africa, Dubai and Australia. One&Only has announced three resorts under development—One&Only Sanya, One&Only Montenegro and One&Only Bahrain. Additionally, Mazagan Beach & Golf Resort, a 500-room destination golf and casino resort in Morocco, is also operated by Kerzner. For more information concerning Kerzner and its operating subsidiaries, visit kerzner.com.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
