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FINANCIAL NEWS
Istithmar World becomes sole owner of Dubai’s Atlantis
18 Jun 2012
(MENAFN) Istithmar World PJSC, the investment arm of Dubai World, said it bought 50 percent stake in Atlantis The Palm from Kerzner International Holdings Limited (KIHL) for USD250 million, becoming the sole owner of the resort, Saudi Gazette reported.
Kerzner will continue to run Atlantis The Palm, which was jointly developed by Istithmar World and KIHL.
The resort, opened in 2008, has played an integral role in establishing Dubai as a world class tourist destination.
Atlantis The Palm, Dubai’s megaresort flagship, has 1,537 rooms, a world class waterpark and 18 restaurants.
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