• Capabilities: Program Management, Cost and Commercial Management, Environmental Solutions
  • Sectors: Commercial Developers

Atlantis Hotel on The Palm Island, Dubai

Dubai, United Arab Emirates – The Palm Jumeirah - The Atlantis Hotel is located at the tip of the beautiful Palm Jumeirah Island in Dubai and was the first resort to be built on the man-made island in 2008. Arcadis understands the importance of improving performance on a complex project whilst reducing the environmental impact in a sustainable manner.

$1.5

BILLION PROJECT BUDGET

$1.1

BILLION FACILITY LOAN

Before 2005, the Palm Jumeirah was non-existent. Three years later, the Government of Dubai created an artificial island using land reclamation and then built a luxury destination resort and hotel known as Atlantis The Palm. 

The Atlantis project was developed by a joint venture (JV) company called Kerzner Istithmar Limited. The company had a US$ 1.5 billion budget for the project during the challenging financial recession in 2008, and as the project developed, the JV company identified a significant encounter that needed to be protected and resolved. The company had taken out a US$ 1.1 billion loan for the facility and required strategic counselling on financial project spending. 

With Arcadis’ technical expertise, it was made a priority to report and provide advice on various technical aspects of the project to the funders to ensure sufficient financial security on the project at all times. Arcadis understands all aspects of a built asset lifecycle from the construction works to the project management and provided the funders with all the required technical information throughout the project. 

“The Atlantis project had a US$ 1.1 billion loan for the facility and required a team from Arcadis to ensure the financial and technical aspect of the project were completed in accordance with the loan facility agreement.”

The financial audit was carried out from the start to the final payment of the loan and cost-effectively helped the company with their project budgets and loan. Moreover, Arcadis independently carried out health and safety & environmental audits to ensure that Atlantis The Plan was completed and delivered in a safe and sustainable manner.

To this day, Atlantis The Palm is popularly known for its theme on the myth of Atlantis and accompanying waterpark and aquarium and is one of the top tourist attractions in the city.

Outcomes

$1.5

BILLION PROJECT BUDGET

$1.1

BILLION FACILITY LOAN

27,000

SQUARE FEET DEVELOPMENT

Questions about this project

Paul Maddison

Regional Business Development Director, Program Management +971 4319 3315 Ask me a question