It’s a big year for Kabir Mulchandani. The SKAI Holdings boss is on track to open his largest ever project, the Viceroy Dubai Palm Jumeirah. Valued at well over $1bn, the hotel is set to usher in a new level of luxury in a city that is already festooned with high-end properties.
Mulchandani told us last year that although the hotel was scheduled to open by the end of 2016, he was hoping to get it all signed off slightly quicker.
“We are very confident that we will definitely finish early. Completion is when the authorities certify that it is ready for occupation, then we go through the opening process of the hotel.”
In March last year, SKAI said it would upgrade its Jumeirah Village Circle project to a five-star luxury property and rebrand it Viceroy Dubai Jumeirah Village following the signing of Viceroy Hotel Group as its hotel operator. And there are other concepts in the pipeline.
Given his success at financing these projects — many of which have involved some of China’s largest banks — don’t bet against Mulchandani making some more big-name announcements in the coming months.
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