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FINANCIAL NEWS
Dubai to start constructing USD1.3b Habtoor Palace in April
11 Mar 2012
(MENAFN) Al Habtoor Group’s chairman, Khalaf Al Habtoor, said that next month, the company would start the construction of the USD1.3 billion Habtoor Palace, reported Arabian Business.
Al Habtoor added that the new project would be built on the site of Dubai’s iconic Metropolitan Hotel, which would be demolished at the start of April.
He also said that the new complex would comprise 3 luxury hotels and several tourist attractions including a theatre to stage Broadway-style shows, in addition to a shopping mall, a tennis and sports academy and themed restaurants.
It is worth noting that the Habtoor Palace is scheduled to be completed in 2016.
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