Government-backed Dubai World has sold Atlantis, The Palm, to Investment Corp of Dubai as it seeks to raise capital to pay down debts following a restructuring in 2011. In a statement, Investment Corp of Dubai, which is also state owned, said the move would allow for the development of the property and Dubai as a world-class tourism destination.
Atlantis, The Palm has closed a month long series of celebrations hosted in honour of the Muslim festival of Ramadan. The event offered guest a chance to discover the richness of the Arab culture and an insight to one of the most significant events in the Middle East.
Atlantis, The Palm is set to revolutionise the waterpark landscape with the expansion of Aquaventure in August 2013. The innovative development includes a number of world firsts, including the world’s largest diameter slide, the world’s first vertical family ride, and the first double slide within a slide experience, allowing tube riders to watch fellow ride sliders in action, suspended above them.
Serge Zaalof, president, Atlantis, The Palm, Dubai, speaks to Breaking Travel News at World Travel Awards 2012 Grand Final Gala Ceremony in Delhi, India.
Reports suggest Kerzner International is exploring the possibility of selling its stake in the Atlantis resort in Dubai as it seeks to restructure its debts. The conglomerate presently holds a 50 per cent stake in the development as part of a wider luxury travel portfolio.
Atlantis, The Palm has launched a mobile website - developed by Dublin-based mobile travel specialist Mobile Travel Technologies - designed to serve the local market as well as travellers and resort guests. Atlantis, The Palm in Dubai, is the first truly integrated entertainment destination resort in the region, offering a variety of must-do experiences.