Al Habtoor constructs Dubai hotel and leisure complex

22 January 2012: UAE-based conglomerate, Al Habtoor Group has unveiled plans to build a new $1.33bn hotel and entertainment complex in Dubai. The Habtoor Palace complex will begin construction in June and is slated to be completed within 40 months, said chairman Khalaf Al Habtoor. The company will be depending on our own cash flow and not in bonds, I believe in the revenue of the group." The complex, made up of three hotels, a shopping arcade and theatre, will be on the existing site of another Habtoor hotel which is to be demolished in April 2012.

Source: Ameinfo