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Wed 27 Jan 2016 01:40 PM

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Dubai-backed hotelier to build $2bn Atlantic resort in Hawaii

Kerzner International, part owned by Dubai, said to be in final stages of deal to build resort on island of Oahu

Dubai-backed hotelier to build $2bn Atlantic resort in Hawaii

Kerzner International, the international hospitality firm part-owned by Dubai, is reportedly planning to resurrect plans to build a new Atlantis-style resort in Hawaii.

Atlantis Resorts, a subsidiary of Kerzner International, is said to be in the final stages of a $2 billion deal to build a new resort in the Hawaiian island of Oahu, according to the Hawaii News Now website.

The report said sources claimed the resort will be built on a 15-acre plot of land on the Diamond Head side of Disney's Aulani Resort and will be similar to the Atlantis resort on the Palm Jumeirah in Dubai.

The Hawaii Atlantis project was first pitched in 2005 but stalled in the wake of the global financial crisis.

The Investment Corp of Dubai (ICD), the emirate’s sovereign wealth fund, reportedly bought a 46 percent stake in Kerzner International in 2014 and operates Atlantis-style resorts in the UAE and China. It also owns and operates the One&Only Resorts brand.

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