Dubai Atlantis Resort to be sold to mitigate debt | hotelmanagement.net
The Atlantis Hotel resort on Dubai’s Palm Island is preparing to be sold by Istithmar, the investment arm of Dubai World, according to Construction Weekly. The Investment Corporation of Dubai is currently in talks to purchase the Atlantis as part of a bid by the government to buy off domestic assets in debt. While no price has been set for the resort, Istithmar took control of the property last year when it purchased a 50 percent stake in the hotel for $250 million, a stake previously held by Kerzner International.
