Nakheel has cancelled plans to build the Trump International Hotel & Tower on the trunk of the Palm Jumeirah in Dubai.

Ali Rashid Ahmed Lootah, chairman, Nakheel, speaking to a National reporter at his offices in Dubai. Randi Sokoloff for The National.

It now seeks to build a shopping centre there instead as it moves away from the huge, eye-catching projects of the property boom years.

Ali Rashid Lootah, who became the chairman of Nakheel last March as part of its restructuring, said the developer was planning to build a mall on the strategic spot of Nakheel’s best-performing project.

“We have to be realistic about these projects now,” Mr Lootah said yesterday, referring to audacious plans such as the Palm Jebel Ali artificial island and the 1km-tall Nakheel Harbour and Tower. “There is no market demand for them. We will be selective.”

The Trump project was first announced in 2005, but had its major unveiling at two expensive gala events in New York City and Los Angeles in 2008.

The Manhattan event was presided over by Donald Trump, the New York property billionaire who had lent his name to the project, and was attended by celebrities such as the supermodel Heidi Klum and actresses Demi Moore and Naomi Watts.

Mr Lootah said Nakheel had put on hold its most ambitious projects as the company completed its restructuring and focused on the “details” of running the largest property developer in Dubai.

The developer is also planning to cut service charges on its developments as it renegotiates contracts with suppliers.

Under a restructuring proposal unveiled last year, the Dubai Government is injecting US$8 billion (Dh29.38bn) into Nakheel and converting a further $1.2bn of debt held by the Government into equity.

Nakheel is in the process of becoming a separate entity from the Dubai World conglomerate, which Mr Lootah said would happen by the end of next month.

The Dubai property sector was showing signs of a recovery, he said, with prices having dropped low enough for the emirate to be affordable for home buyers.

Since the beginning of the year, mortgage companies have been expanding their offerings, and prices in more established areas are stabilising, analysts say.

Prices in Dubai declined by 2.4 per cent for apartments and 5.1 per cent for villas in the final three months of last year compared with the same period in 2009, the property agency Cluttons said last month.

“Dubai is more affordable,” Mr Lootah said. “Before it was expensive … Dubai still has something to offer. Fortunately enough we are ahead of everyone else in the region” in terms of infrastructure and lifestyle.

Offers and bidding prices for land on Palm Jumeirah have increased since last year, but Mr Lootah said the company had no plans to sell assets or property because of the oversupply.

“We will be the last one to do that,” he said. “We are the biggest player in the market. If we start doing that, it will not necessarily be a good thing for the market. We have no plans for this in the near future … it would have a big negative impact. It will bring the prices down.”

Some 7,800 units were completed in Dubai in the last three months of last year, bringing the total stock to 309,300 units, according to the property brokerage Jones Lang LaSalle. A further 25,000 units are expected to be completed this year, it said.

Nakheel is now focusing on improving operations, lowering costs through negotiations with service providers and completing a set of projects already started.

It is planning to begin an extension at the Dragon Mart shopping centre and the initial construction of the Palm Jumeirah shopping centre this year.

The developer has also restarted construction on the Jumeirah Park, Al Furjan, Jumeirah Village, Jumeirah Islands Mansions, Jumeirah Heights Clusters and Al Badrah projects, the company said last year.

bhope@thenational.ae

Dubai: The Dubai Metro has already achieved many of the goals for which it was built, a senior transport official said on Wednesday.

* Passengers pass through the turnstiles at the Mall of the Emirates station. Most Metro users agree that they seldom have to wait around for trains and are very pleased with the frequency of services. * Image Credit: Oliver Clarke/Gulf News

Thursday marks exactly one year since the Dubai Metro made its first journey.

The Roads and Transport Authority said a total of 30 million passengers have used Dubai Metro since first began operations.

Dubai Metro is a driverless, fully automated Metro network built at a cost of Dh28 billion. The number of stations which are currently operational on the Red Line number 21, from a total of 29. The remaining eight stations on the same line are expected to be opened by the end of the year.

In a statement, Mattar Al Tayer, Chairman of the RTA’s Board and Chief Executive, said the strategic objective was for public transport to carry 30 per cent of commuters by 2020. Currently the figure is 12.6 per cent.

“The next step will be to spread the culture of using mass transit modes and encourage the community members to use them in their daily travels,” Al Tayer had said.

Engineer Adnan Al Hammadi, Chief Executive Officer of the RTA’s Rail Agency, said current statistics on the Dubai Metro showed that the frequency of use and the daily average in terms of passenger numbers was in line with estimates for the rail service.

He said the Metro’s Red Line service had reduced road traffic by between 10 and 20 per cent during peak hours in the areas it served.

“With the start of the Green Line besides the Red Line, it is expected that the number of users will increase further next year compared to this year. This increase reflects the demand for travelling by the Metro specifically,” he said.

Al Hammadi said the Metro’s opening had brought many benefits to Dubai.

“Launching the Metro has contributed in reducing traffic congestion, as its effects appeared on the areas which are served by various metro stations,” he said.

Economic boost

Al Hammadi said the launch of the Metro also helped boost the city’s economy, as it connected tourism and trade destinations and main services with the metro network. For example, the price of land near the Metro stations had risen, he said.

Dubai Metro had also helped save energy, he said.

“A recent study by [RTA] had revealed the Metro project has successfully contributed to the RTA’s energy conservation plans,” Al Hammadi said.

“The operational results showed that the specifications set by the RTA for the design of the Metro systems contributed to a 25 per cent reduction in power consumption, which is equivalent to Dh20 million per year. Reduced carbon dioxide emissions from power generation plants driving the Metro added more value to the cost savings.”

Dubai Metro had also achieved a punctuality rate of more than 99 per cent — the highest of any driverless Metro system in the world, Gulf News has reported previously.

Dubai Metro’s punctuality rate was ahead of major driverless Metro systems around the world, including the North East Line in Singapore and the Docklands Light Rail in London, the RTA said.

Ignorance of rules can be costly

Dubai Adnan Al Hammadi, Chief Executive Officer of the Roads and Transport Authority’s Rail Agency, said that between the launch of Dubai Metro and August 14 this year, around 6,253 fines had been issued for various offences on Dubai Metro.

“The reason behind increase in Metro fines is due to the lack of abiding on the part of some commuters and the ignorance about the laws of using public transport,” he said adding that the most common fines were for eating or drinking in undesignated areas of the Metro including on trains, and for entering or sitting in places other than specified, or using public transport without paying the fare.

Al Hammadi said if lost items were found inside Metro trains or stations, the attendant stored them for 24 hours. Unclaimed items would be transferred to the central Khalid Bin Al Waleed Station, after which it was handed over to police, he said.

Eid timings

During Eid Al Fitr holidays, Dubai Metro timings across the 21 stations will be from 6am to 1am, except on Friday when trains will run from 2pm to 1am.

For inquiries about train schedules, call 800 9090.

SYDNEY — A French skyscraper climber nicknamed “Spiderman” was arrested Monday after scaling a 57-story building in Sydney with his bare hands.

A police search and rescue officer grabs French skyscraper climber Alain Robert, right, after he climbed the Lumiere Residential building in Sydney, Australia, Monday, Aug. 30, 2010. Robert, nicknamed "Spiderman" was arrested Monday after scaling the 57-story building in Sydney with his bare hands. (AP Photo/Rob Griffith)

Alain Robert, known for climbing some of the world’s tallest and best-known buildings without ropes or other equipment, was arrested at the top of the Lumiere building downtown.

He climbed the building in about 20 minutes, as dozens of people watched from below.

“I’m sad he’s been arrested, but hopefully he’ll get out soon and we can have some champagne,” said his agent, Max Markson.

He was charged with risking the safety of another by climbing a building and entering enclosed land, police said. He was released from custody and ordered to appear in court on Friday.

Many of his past climbs have resulted in arrests and fines. Last year, Robert was fined 750 Australian dollars ($676) for climbing the 41-story Royal Bank of Scotland building in Sydney.

The 48-year-old has climbed more than 70 skyscrapers around the world, including the Empire State Building, the Sears Tower and the Petronas Towers in Kuala Lumpur, according to his website.

The Nakheel Harbour & Tower offers the ultimate symbol of Dubai’s evolution as a commercial and cultural capital, according to project designers Woods Bagot.

The global architecture practice believes that the design for the 270 hectare masterplan and more than 1 kilometre-high tower will provide the centrepiece for the future of Dubai’s development, altering its skyline forever. As a focus for the city’s intermodal transport system, the project will create the most progressive mixed-use development in the world offering both functionality and lifestyle, while evolving the city’s infrastructure.

The Nakheel Harbour & Tower design has been founded on the influence of Islamic tradition to produce an aspirational display for the region. Described as “Dubai’s Capital” by its developers, the project is a dramatic demonstration of tower technology with a design that soars over one kilometre above ground level.

Mark Mitcheson-Low, director in charge of the project and Woods Bagot Middle East Managing Director explains: “The Nakheel Harbour & Tower is a feat of design excellence on all levels and across all disciplines – it is truly a mark of the epoch. The Nakheel Harbour & Tower project demonstrates Nakheel’s drive to provide a reflection of the future Arabia – a modern, global city of significance rightly assuming its place in the world.

“The design is an example of the human ability to overcome the forces of nature and harness them to create a monument dedicated to past, present and future generations of the Gulf. Nakheel and Woods Bagot have pushed the design envelope with a project that will be central to the development of one of the world’s most exciting cities.”

The masterplan and tower display all the potent cultural imagery of Dubai in thoroughly modern form. The Nakheel Harbour & Tower design represents a powerful symbol of change in the region, and has been developed for the future generations of the UAE who will, ultimately, live, work and play within its confines. Taking its inspiration from the geometric patterns instilled within Middle Eastern architecture, these cultural aspects have been absorbed into the design and synchronised with engineering principles.

From a residential, retail and hospitality element perspective Woods Bagot has endeavoured to explore the Middle East’s rich architectural language and express Dubai’s cultural vernacular throughout the spaces of the public realm.

The Nakheel Tower itself is an advance in skyscraper design not only in terms of height and stature but in function, as it knits together a blueprint for the mixed-use community of the future. The cylindrical tower is 95m in diameter, but in actuality is four towers encircling an internal void, linked at intervals by ‘sky bridges’. This design mitigates the effects of the wind load, allowing the air to pass freely through the building.

The individual quadrants of the building allow for structural rigidity against the strong winds usually experienced at the higher building levels. Often limiting engineering possibilities beyond 500 metres, the wind will pass through vertical gills, which have been proven in wind tunnel testing to reduce the windload by three-fold. An added benefit of this design is to allow large floor plates at high levels, as the Nakheel Tower does not have to taper to counter the wind effect.

The first tower of this kind to reach these heights, the Nakheel Tower project has been developed through the design intelligence and research of the Woods Bagot design team. Mark Mitcheson-Low explains: “The future-proofing thought process of the design team makes Nakheel Harbour & Tower a model for a sustainable, vertical community. It has the flexibility to adjust and react to the future demands and requirements of its tenants, owners and operators in the way in which they work, live and play. ”

At approximately every 25 levels, the sky bridges will bind the building together and delineate the different uses of the building. This provides a structural integrity which, unlike any building before it, affords the tower greatly increased stability and the opportunity to build higher. They also house mechanical, electrical and plumbing services and would provide safe crossing points if one of the towers were disabled due to an emergency.

Each sky bridge will have its own amenities and facilities, acting as gateways to the transport structure. Functioning as communities, the sky bridges will offer people a space where they can still interact and engage with others regardless of the external environment.

The mixed-use Nakheel Tower building will contain commercial offices, three sections of residential quarters and hotel accommodation with a two-storey observation deck at the top of the tower.

About Woods Bagot

International design practice Woods Bagot provides its clients with innovative design solutions that are both functional and inspiring. This is demonstrated by the successful delivery of a range of high profile projects within the commercial workplace, hospitality, mixed-use, education and science sectors.

Established in 2001, Woods Bagot’s London studio now has a dynamic team of over 1000. Since its inception, its young, integrated team has developed a diverse portfolio of significant projects including:

” Qatar Science and Technology Park in Doha, part of the nation-building Education City project
” Adelaide City Central, and other major office projects in Australia, setting new benchmarks for sustainability in commercial development
” The Melbourne Exhibition and Convention Centre, the worlds first convention centre to achieve 6 Star Green Star certification from the Green Building Council of Australia
” Europe’s tallest residential tower under construction in Manchester (whilst construction has commenced, this project may in fact go on hold following completion of ground works)
” Major mixed use projects in the Middle East Biotechnology and nanotechnology research laboratories at universities in Australia
” Hong Kong University of Science and Technology’s new Institute of Advanced Study, won through an international design competition including Zaha Hadid and KPF
” Minthis Hills Resort, Cyprus

About Nakheel Harbour & Tower

Nakheel Harbour & Tower will be Dubai’s capital- there is nothing like it in Dubai. At the core of the Nakheel Harbour & Tower development is a tower more than a kilometre high and the world’s only inner city harbour. Nakheel has focused on creating a true community – a location for working, relaxing and entertaining and for art and culture.

In line with its role in shaping the city’s future and creating some of the world’s most iconic developments, Nakheel has taken its inspiration from Islamic design and geometry.

Nakheel is inspired by the Islamic principles: inclusion, innovation, diversity, excellence, growth and progress to create not just the building and design of Nakheel Harbour & Tower, but also its community.

It is a precinct that minimises car use and maximises train, bus and water transportation. A complete transportation hub blends into the harbour area with metro transportation combined with a unique water transport interchange, with Abra & Dhow station links.

The development includes canal walks, parks and gardens, and landscaping which will also contribute to wellbeing and increased outdoor activity for those communities. It will have the largest public promenade in Dubai.

Nakheel Harbour and Tower is a sustainable, compact precinct offering an alternative lifestyle built on walkability, choice of transport, variety of public and open spaces including sky gardens, and “living” bridges.

About Nakheel

Nakheel is one of the world’s largest privately held real estate developers, and a key player in realising the vision of Dubai for the 21st century: creating a world class destination for living, business and tourism.

Nakheel is developing an iconic portfolio of innovative landmark projects in Dubai, and now in key markets around the globe, across a range of sectors – residential, commercial, hotels, retail, and leisure. Nakheel’s projects are conservatively estimated to be worth US$80 billion. Upon completion Nakheel’s waterfront projects will have added more than 1,000km of shoreline to Dubai’s coastline.

Nakheel’s Dubai portfolio currently includes Nakheel Harbour & Tower, Palm Jumeirah, Palm Jebel Ali, Palm Deira, The World, Waterfront, The Universe, Jumeirah Islands, Jumeirah Village, Jumeirah Park, Jumeirah Heights, The Gardens, Discovery Gardens, Ibn Battuta Mall, Al Furjan, International City, and Dragon Mart.

Nakheel is a key entity within Dubai World. Dubai World is one of the world’s largest holding companies and supervises a portfolio of businesses and projects for the Dubai government across five continents and more than 100 countries.

Nakheel Harbour & Tower will be Dubai’s new capital with a thriving harbour and vibrant social scene. As a beacon of inspiration for the region and the world, its design will reflect Islamic culture.

Nakheel Harbour & Tower will incorporate Islamic design elements that will be a tribute to great Islamic monuments of the past such as the Harbour of Alexandria, the bridges of Isfahan, the gardens of Alhambra and the promenade of Tangier.

Encompassing more than 270 hectares, this mixed-use development will be located in the heart of New Dubai, and will include the world’s tallest building, a harbour, cultural podium and two residential districts. Nakheel Tower’s height of over one km was made possible by implementing an Islamic design that divided the Tower into four cores.

Nakheel Harbour & Tower’s grandeur will be matched only by its ambition.  Nakheel Tower by itself will be a vertical city, accommodating residents in an efficient LEED rated sustainable building.  “Sky villages’ will link the higher echelons with public spaces, swimming pools, gardens, offices and apartments.

The cultural podium will house an eclectic mix of cultural, retail and community facilities and will be a thriving social destination. Its amenities, 24/7 elements and mixed-use appeal will stimulate repeat visits.

The districts surrounding the tower and podium will contain public facilities promoting outdoor activity.

Nakheel Harbour & Tower will be Dubai’s culturally inspired capital, and a vertical city that the world can look to for inspiration.

To learn more about Nakheel Harbour & Tower, click here to visit Nakheel’s website.

Dubai’s Nakheel has $10.9 billion of bank debt and will receive key assets from parent company Dubai World for its business plan after separation, a restructuring document showed on Wednesday.

The developer, which overstretched itself building islands in the shape of palms and other ambitious real estate, has $5.1 billion of trade creditor claims and $9.2 billion of customer liablities, the document obtained by Reuters showed.

The government will also pump $7.3 billion of new equity and equitise a further $5.3 billion of claims to recapitalise Nakheel, it said.

“Certain assets and businesses required for Nakheel’s business plan will be transferred from Dubai World Group to Nakheel,” the document said.

Assets to be transferred are Nakheel Harbour & Tower land, land at its Waterfront development which forms the security for the 2011 sukuk (an Islamic bond), Dubai World’s 50 percent stake in its Al Mamzar joint venture, Dubai World’s 99 percent stake in Nakheel Leisure LLC, Coastal Communities Distribution FZE and Retailcorp Entertainment FZE, according to the document.

Nakheel said on Tuesday it has repaid approximately 2.5 billion dirhams ($681 million) to contractors in July.

Under a restructuring proposal issued by Dubai World in March, Nakheel creditors would receive repayment through a mix of 40 percent cash and 60 percent tradeable security in the form of an Islamic bond.

The 40 percent is equivalent to 4 billion dirhams, a company spokesman told Reuters in July.

(Reporting by Amena Bakr; Writing by Jason Benham; Editing by Mark Potter)

Dubai World may sell prized possessions, including the ports operator DP World and AtlantisThe Palm, to raise up to US$19.4 billion (Dh71.25bn) if it needs to meet debt obligations under its restructuring plan with bankers.

Nakheel Harbour and Tower

The plan to offload the assets is part of a contingency were revealed for the first time yesterday to be part of restructuring documents given to bankers last month.

Assets listed in the documents include DP World, the Atlantis, MGM Resorts International and the luxury retailer Barneys New York, along with other high-profile assets acquired before the financial crisis threw the state-owned company’s finances into the red.

Dubai World could raise up to $19.4bn over eight years through sales. The assets earmarked for possible sale are currently valued at as much as $10.4bn.

A source close to Dubai World said the company would hold on tightly to its best assets, including DP World. Those “strategic” companies would be last to go, the source said.

A spokesman for Dubai World declined to comment about the documents but the source confirmed the plan had been given to bank creditors and was one of a number of possible methods of raising money to repay debt.

Dubai World received approval from its main group of bank creditors in May on its restructuring, worth a total of $23.5bn including claims that the Government is forgoing. The company is now awaiting a final sign-off from smaller banks holding about 40 per cent of the bank debt of $14.1bn.

Under the restructuring proposal, banks are to be given new five and eight-year loans, with interest ranging from a flat 1 per cent to interest tied to prevailing rates in the UAE. The loans include additional payments due when the loans mature, and some lenders are to receive shortfall guarantees from the Dubai Government.

Dubai World’s most coveted assets, however, are not likely to be offloaded, according to sources familiar with the situation.

The five and eight-year restructured loans could be refinanced before they mature, in which case the company would not be obligated to execute further sales.

A banker involved in the restructuring talks said neither Dubai World nor the banks wanted the company to part with prized assets at distressed prices.

With the five and eight-year horizons, the company had plenty of time to ride out the global asset price decline and possibly arrange for alternative ways of paying back lenders, he said.

“Everything is for sale but they have breathing space given the five-year and eight-year debt,” the banker said. “It’s very cheap debt, so there’s no reason to sell immediately. It gives them the opportunity that if things get substantially better, they might refinance the debt in the future.”

The source said that because banks were keen to lend before, they might be again.

“It may be that they don’t sell the [prize] assets in the end,” he said.

As the restructuring talks continue, Dubai World has already begun to sell off some of its assets.

Istithmar World, a private equity subsidiary, put the marine services provider Inchcape Shipping Services up for sale earlier this year, although that transaction is now on hold. Istithmar, which holds Dubai World’s stake in Barneys New York, sold office space in London earlier this month for £173 million (Dh979.8m). It has recently sold other property assets in London and New York, as well as a stake in India’s SpiceJet.

Dubai World said in the restructuring documents that it planned to appoint a new managing director and chief financial officer. Aidan Birkett of the accounting firm Deloitte, who is currently serving as the company’s chief restructuring officer, is expected to remain in that position until December.

The documents also revealed that Nakheel, a Dubai World property subsidiary behind the emirate’s Palm islands and the World archipelago, had a total of $10.9bn of bank debt. It also has $5.1bn of claims from contractors and other businesses and $9.2bn of liabilities to customers.

The documents also said Dubai World planned to transfer assets to Nakheel after their planned separation, including land earmarked for the Nakheel Harbour and Tower and the massive Waterfront development near the border with Abu Dhabi.

afitch@thenational.ae

As part of its commitment to repay its creditors, Dubai World (DW) plans to raise as much as $19.4 billion by disposing of some assets over a period of eight years, and seeks an agreement by October 1.

The state-owned company is currently $39.9 billion in debt, and is selling stakes in retail stores, MGM Resorts International, DP World, Dubai Maritime City, Dry Docks World etc, according to a document obtained by Reuters. Dubai Word, which seeks to get creditors to agree to its proposal by October 1 in order to go forward with the plan, thinks sales right now would generate a maximum of $10.4 billion,

The document also showed Dubai developer Nakheel has $10.9 billion of bank debt and will receive key assets from parent company Dubai World after separation.

The government will pump $7.3 billion of new equity and equitise a further $5.3 billion of claims to recapitalise Nakheel, Reuters quoted the document as saying.

The Dubai World plan, presented on July 22 to creditors, details of which were also obtained by Reuters, stressed the company’s capital structure was inappropriate and needed “urgent” restructuring.

The proposed plan attracted mixed response from investors and analysts as some of them were sceptical, but others believed that these are valuable assets and likely to get the target prices.

“In terms of generating these amounts from the asset sales, this makes sense and we believe that these assets are very valuable…and the amount they can generate is reasonable,” Rami Sidani, Head of Investment, Schroders Middle East, said.

Shakeel Sarwar, Head of Asset Management, Sico Investment Bank in Bahrain, said Dubai World’s projection that asset valuations could nearly double in eight years was feasible, providing the emirate improved transparency, which will be crucial to attracting foreign money.

“An assumption that asset prices will double in eight years is not too optimistic, because they have fallen 50 to 60 per cent,” Sarwar said.

Dubai World is also providing an incentive to creditors by offering bankers a “consent fee” of between $150,000 and $800,000 for agreeing to the proposed plan by October 1.

Dubai World’s private equity arm, Istithmar which owns most of the overseas assets, is expected to raise a maximum of $4.5 billion over a five year period. A short-term disposal plan will generate as much as $2 billion, Reuters quoted the document as saying.

“DW [Dubai World] lender recoveries [will be] significantly enhanced if DW is given time to rebuild and realise value over a five to eight year horizon,” Reuters quoted the document as saying.

Within the range of the money Dubai World said it may raise, it pegged a mid-point of $17.6 billion.

“The $17.6 billion debt disposal plan is pretty ambitious and if DW cannot meet that there is increased likelihood of further support from the Dubai government,” said Okan Akin, corporate debt strategist at RBS in London.

In a sign of the deep overhaul that Dubai World has committed to, the company will appoint a new managing director and chief financial officer, Reuters said. However, Aidan Birkett, the officer-in-charge of its restructuring will remain in place until December.

“Certain assets and businesses required for Nakheel’s business plan will be transferred from Dubai World Group to Nakheel,” the document said.

Assets to be transferred are Nakheel Harbour & Tower land, land at its Waterfront development which forms the security for the 2011 sukuk (an Islamic bond), Dubai World’s 50 per cent stake in its Al Mamzar joint venture, Dubai World’s 99 per cent stake in Nakheel Leisure LLC, Coastal Communities Distribution FZE and Retailcorp Entertainment FZE, according to the document.

abdulbasit@khaleejtimes.com

AS THE global hospitality industry continues to ponder the pace of business, Mövenpick Hotels & Resorts, in partnership with real estate developer, Seven Tides, prepares for the opening of more than 1,000 rooms over four properties in Dubai, UAE.

The foyer Ibn Battuta Gate Hotel

The 396-room Ibn Battuta Gate Hotel is a property of iconic stature both inside and out, which is cleverly inspired by the journeys of the 14th century Arabian explorer Ibn Battuta himself. The hotel is located in New Dubai and set to open its doors in October.

Next to open, is the 216-room Mövenpick Hotel Deira which has its sights set on offering an efficient welcome to visiting business executives, inquisitive shoppers, small meeting groups and lunch and dinnertime diners in Dubai’s traditional locale of Deira on the north-side of the creek from November.

At the end of the fourth quarter, the Asian-inspired Royal Amwaj Resort & Spa on Palm Jumeirah will be ready to open.  The 293-room retreat-like resort has announced some ‘industry firsts’, including an upscale all-inclusive package available through preferred travel partners.

And the middle of 2011 will see the pack complete with the launch of the contemporary Oceana Hotel & Spa. Seven Tides’ second property located on Dubai’s Palm Jumeirah will open 324 rooms hot on the heels of the Oceana Beach Club and restaurant-bar venue, West 14th, the New-York grill and bar. Both the club and the restaurant opened for business during the summer of 2010.