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Kerzner International May Launch The Cove Atlantis

ImageKerzner International is considering launching a second luxury product in Dubai – The Cove Atlantis.    Last September the resort developed the $1.5 billion (Dh5.5bn) Atlantis The Palm.  The Cove Atlantis would be located at the Atlantis site in Dubai and replicate the Cove in Atlantis, Paradise Island in the Bahamas.   President and Managing Director of Kerzner International said they did a lot of planning on the Cove product before the economic crisis.

Alan Liebman said they have The Cove in their Bahamas property and “It is very much a lifestyle-type product.”  He said after the liquidity markets open up they want to bring the product to Atlantis Dubai.  The Cove initially was scheduled to open in Dubai in 2008 at a development value of about $1bn.   Kerzner International has about 112 acres in Dubai and so far has developed only 50 per cent of this.  They want to develop projects on the rest of the land near Atlantis.   
 

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