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November 24 - While the global economies remain largely erratic, in far off Dubai, things have never been more prosperous.
Sol Kerzner, the famous South African casino mogul and father of the Sun City casino and entertainment resort, opened his biggest project yet last week, with the official launch of his brand new Atlantis resort on the famous man-made palm shaped island in Dubai.
The plan to launch this massive resort in the United Arab Emirates came with the price tag of $1.5 billion, and is the result of a joint effort between Kerzner and the Dubai based Nakheel development group.
Boasting 1,539 rooms, the stunning salmon colored hotel has accommodation priced between $800 and $25,000 per night, and hopes to attract those people who remain unaffected by the woes of the current global market.
"We would have preferred obviously for economies to be buoyant and growing," said the 73 year old Sol Kerzner, who shows no sign of slowing down. "But on the other hand, you don't develop this on the basis of how we're going to do in the first two or three years. A medium term view makes sense."
Nevertheless, it seems that the Atlantis project, combined with the financial pressures on the world markets, have taken their toll on Kerzner's company. Wisely, he has decided to put all his expansion projects on the back burner for now, except for one in Cape Town and another in Mexico.
The opening of the Atlantis saw the who's and what's of the celebrity world flocking to Dubai to enjoy amazing fireworks, entertainment and food until the early hours of the morning.
"The hotel is a $1.5 billion investment," explained Kerzner. "It would be a huge mistake not to launch it world wide as effectively as we possibly can."
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