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FINANCIAL NEWS
Habtoor Group’s 5-star hotel project to be resumed
06 Oct 2011
(MENAFN) Khalaf Al Habtoor chairman of the Dubai-based Habtoor Group announced that the group will continue working on a USD272.2 million hotel project on the Palm Jumeirah.
The construction of the 330-room five star hotel was stopped in the wake of Dubai’s debt crisis, and its real estate prices dived more than 60% from their 2008-peak.
He reiterated that the project will be the first of several announcements to be made before the end of the year.
He added that the project, which is funded by the conglomerate, is expected to open to be finished by 2013, and will include a spa, private beach, six restaurants and a nightclub.
More News
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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