By Staff writer
$1.4bn project on Palm Jumeirah will have 231 residences, 795 rooms
Sales of residential units valued at $2 million and upwards in The Royal Atlantis Residences on Palm Jumeirah have begun, Kerzner International announced.
The $1.4 billion (AED5.14 billion) The Royal Atlantis
Resort and Residences project was announced in September 2014 - five months
after Investment Corporation of Dubai (ICD), the investment arm of Dubai
government, acquired a “significant” equity interest in Kerzner International
Holdings Limited for an undisclosed sum.
In a joint statement issued with Knight Frank, the
sales agent, the companies said the project will be a “new landmark of Dubai
and will support the Dubai Plan 2021 in positioning it as one of the best
places to live in the world”.
Set for completion in third quarter of 2019, the
project will have 231 residences and 795 rooms.
“We are incredibly proud to launch The Royal Atlantis
Residences in Dubai. Building on the success of Atlantis, The Palm, this next
phase of Atlantis, including the luxury residences of The Royal Atlantis, will
continue to drive the growth of Dubai forward,” Issam Galadari, director, The
Royal Atlantis Resort & Residences, said.
The Royal Atlantis Residences, a fully-owned
subsidiary of Investment Corporation of Dubai, will be Dubai’s first super-prime
Jean-Gabriel Pérès, president and chief executive
officer, Kerzner International said Dubai has always been important for the
company and it will continue to support to develop the destination.