Right after the news about Dubai’s master developer Nakheel having awarded a contract for construction of The Palm Gateway at the entrance to the man-made Palm Jumeirah island came an announcement that a second iconic Atlantis development will be built at the crescent of the archipelago within the period of 24 months.
This new complex will be constructed right beside the existing Atlantis The Palm development, famous not only for its architectural contours, but also for a huge aquarium with sharks and other species of marine fauna, the main attraction for tourists and locals alike.
Nakheel has confirmed that the contract for construction of the Royal Atlantis Resort and Residences the total cost of which amounts to US $ 1.4 billion was awarded to a Korean company Ssangyong, the same contractor responsible for the construction of The Palm Gateway at the entrance to The Palm. The design of Royal Atlantis was created by Kohn Pedersen Fox Associates (KPF).
Royal Atlantis project will consist of three towers, including residential, commercial real estate, as well as a beach club. Residential and hospitality part of the complex will house 800 guest rooms, as well as more than 230 serviced apartments and also 46 stores.
Knight Frank has put Royal Atlantis at the first place in the top 10 list of the most significant luxury real estate projects to be implemented in the world in the coming years.
Royal Atlantis, like the iconic Atlantis The Palm, will be managed by Kerzner International.
It is expected that construction works at the site will start within two next months and be completed within two years before 2018.