Sales of residential units valued at $2 million and upwards in The Royal Atlantis Residences on Palm Jumeirah have begun, Kerzner International announced.
The $1.4 billion (AED5.14 billion) The Royal Atlantis Resort and Residences project was announced in September 2014 – five months after Investment Corporation of Dubai (ICD), the investment arm of Dubai government, acquired a “significant” equity interest in Kerzner International Holdings Limited for an undisclosed sum.
In a joint statement issued with Knight Frank, the sales agent, the companies said the project will be a “new landmark of Dubai and will support the Dubai Plan 2021 in positioning it as one of the best places to live in the world”.
Set for completion in third quarter of 2019, the project will have 231 residences and 795 rooms.
“We are incredibly proud to launch The Royal Atlantis Residences in Dubai. Building on the success of Atlantis, The Palm, this next phase of Atlantis, including the luxury residences of The Royal Atlantis, will continue to drive the growth of Dubai forward,” Issam Galadari, director, The Royal Atlantis Resort & Residences, said.
The Royal Atlantis Residences, a fully-owned subsidiary of Investment Corporation of Dubai, will be Dubai’s first super-prime residential development.
Jean-Gabriel Pérès, president and chief executive officer, Kerzner International said Dubai has always been important for the company and it will continue to support to develop the destination.