The company’s Chairman Sol Kerzner said in a press release, “Since we first entered The Bahamas, we have invested over $1 billion in developing Atlantis, Paradise Island.”
Atlantis Paradise Island includes 2,317 rooms, a marina, a wide range of restaurant, retail, and convention facilities and the world’s largest man-made marine habitat.
“Over the years, we have acquired significant expertise in operating this business,” Mr. Kerzner said. “In fact in 2002, we achieved record results achieving more than $500 million in gross revenue. With the success of Atlantis, Paradise Island our goal has been to extend the Atlantis brand and concept to an ever wider audience.”
He said developing the project in Dubai is the next step.
“With its year-round warm weather, great beaches, excellent infrastructure and unparalleled airlift, Dubai is the ideal location for our second Atlantis. We have some unique development ideas for the water theme park that will be the centrepiece of this new project and will cater to all hotel guests and Dubai’s residents and visitors.”
The project is expected to include a 1,000-room hotel and water theme park situated on 1.5 miles of beachfront.
According to the press statement, this announcement is part of the plan of His Highness Sheikh Mohammad bin Rashid Al Maktoum, Crown Prince of Dubai, to diversify the United Arab Emirates’ economic base and substantially grow Dubai’s tourism, which is what Kerzner International achieved in The Bahamas with the opening of Atlantis, Paradise Island in 1994.
The release said that Atlantis, Paradise Island was the primary driver for the sustained period of economic growth that The Bahamas experienced throughout the late 1990s.
From 1995 to 2000, The Bahamas total visitor arrivals jumped by 30 percent, the statement said.
The Atlantis, Paradise Island’s brand awareness ranks second only to Disney in warm weather resort brands in the United States.
Architectural and conceptual planning is already underway for the new resort. Construction is expected to begin before the end of 2004 and it is anticipated that the project will be completed by 2007.
This announcement comes as Kerzner continues a multimillion-dollar expansion of the Atlantis, Paradise Island Resort which is expected to create an additional 4,000 jobs for Bahamians.
Other news of the company’s expansion was evident late last week.
Kerzner International officials announced that they had signed a $40 million deal to acquire Club Mediterranae on Paradise Island.
The Club Med property borders the eastern boundary of the proposed site of the new 1,200-room hotel, making it ideally positioned for inclusion in future expansion plans.
Club Med will house construction workers for the three-year project, then could be cleared for more Atlantis buildings, according to a company official.
The acquisition of the Club Med property could help Kerzner achieve its goal of creating 5,000 hotel rooms in The Bahamas.
By Candia Dames, The Bahama Journal
