SKAI Holdings to build $1bn hotel on Dubai's Palm

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Dubai-based property investment firm SKAI Holdings has announced plans to build a $1bn hotel and furnished residences project on the Palm Jumeirah.

Construction on the property, which will be operated by Viceroy Hotels and Resorts, has already begun and the hotel is scheduled to open its doors in the last quarter of 2016.

Viceroy Palm Jumeirah will have 481 rooms and suites, plus 221 ‘signature Viceroy Residences’. The beachside property will host ten restaurants, as well as a gourmet market and bakery. In addition, the hotel will also have a spa, indoor fitness facilities and three outdoor swimming pools.

The move marks Viceroy Hotels and Resorts’ first foray into the Dubai market. The operator already runs the Yas Viceroy in Abu Dhabi.

“Viceroy Dubai Palm Jumeirah will offer the best of all worlds,” said SKAI Holdings CEO Kabir Mulchandani, in a press statement.  “It is a luxury urban beach resort in the heart of Dubai. It is a family retreat as well as an exciting entertainment destination and its exceptional banqueting and business facilities make it ideal for corporate use.”

The Viceroy is the latest in a series of hotels that are being planned for the Palm Jumeirah. Last month, Sofitel announced that its Polynesian-themed resort would open on the Palm this summer, while the Anantara Dubai Palm Jumeirah Resort and Spa is set to launch in the third quarter. The Palm Fairmont Hotel opened its doors earlier this year.

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Posted by: Paul UK

Now more expensive then ready built, lived in and better projects on the palm.

Why?

Because Viceroy is a project for flippers and speculators.

Sold on fluff, potential, rumours of connectivity and cute diagrams.

Maybe todays prices will all pale into signicance in 4 years time and everyone will win?

More on the developer and the people behind it would be useful. Who is behind this?

Posted by: ANIL PATEL

Great to see the progress of SKAI. I am sure this will be another successful venture for this dedicated developer.

Posted by: Ponzo

Perhaps this explains why SKAI are suddenly releasing lots of rooms at SKAI residency in Greens for sale while also demanding 1.99% commission.

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