Saudi developer set to restart project in Dubailand
Dubai : 5-Mar-2012
Saudi Arabia-based developer Al Hokair Group is planning to resume construction on its stalled Al Sahara Kingdom hotel and entertainment project at Dubailand in 2013. The Sahara Kingdom has been master-planned over a 4.6 hectare area in Dubailand, the delayed real estate development backed by Dubai Properties Group. The project is set to include (2 Nos.) four-star hotels - to be run by Al Hokair-owned MENA Hotels & Resorts, an indoor theme park, restaurants, residential areas and a retail souk. Construction is expected to take two years. The developer's plan to resume this project was in response to increased demand in line with growing tourist numbers to the emirate. Dubailand was one of the Gulf emirate's most ambitious developments, announced at the height of the real estate bubble. The resort was originally slated to be twice the size of Walt Disney World, and reportedly worth an estimated $91 billion at its peak. It was placed on hold after the financial crisis triggered the collapse of Dubai's real estate market in late 2008.
