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FINANCIAL NEWS
Drydocks World inks deal to set up underwater hotels in UAE
03 May 2012
(MENAFN) Drydocks World’s chairman, Khamis Juma Buamim, announced that the company inked a deal with Swiss BIG InvestConsult to establish the World Discus Hotel, an undersea hotels in the UAE, reported Emirates 24/7.
Buamim said that BIG will finance the project, which features a discus-shaped residential underwater building linked to another discus above water.
He also said that two developments with 5 hotels attached to them are planned in the Middle East, adding that this project has 7 different types of designs and each will cost in the range of around USD50 million to USD120 million.
It is worth noting that Drydocks, the shipbuilding arm of Dubai World, and Maritime World are appointed as the sole chief contractors for the establishment of the new concept hotels and cities floating in the Middle East.
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24 Feb 2026
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05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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