Dubai, United Arab Emirates:
SKAI Holdings, the Dubai-based real estate investment company, has announced that it has completed just over 30 percent of the construction of its USD 1 billion Viceroy Dubai Palm Jumeirah development, and is on track to open as planned in 2016.
China State Construction Engineering Corporation (CSCEC ME), the project’s main contractor and a key investor, has now begun structural works on level 14 of the 16 storey building. Work has also commenced on the fit out and mechanical electrical and plumbing (MEP) works.
The luxury residential and hospitality project will offer 477 spacious rooms and suites and 222 signature Viceroy Residences. The property is situated at the base of Palm Jumeirah and is easily accessible from the city’s downtown center.
Yu Tao President and CEO of CSCEC ME said: “With almost a third of the construction completed on Viceroy Palm Jumeirah we are on schedule to open to guests in 2016. Dubai’s tourism and hospitality sector continues to perform well, and with a clear vision and dynamic strategy led by Government and fully supported by the private sector, we expect continued and sustainable growth over the mid and long term.”
SKAI Holdings Suites in the SKAI at Jumeirah Village Circle is also under construction. Excavation work is in progress on the hospitality project, according to BNC data on this project. The 60-storey tower comprising of 234-hotel rooms, 234 one-and-two bedroom apartments and 33 penthouses is worth an estimated USD 329 million. The project is slated for completion in 2017.
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