Dubai Luxury Resort Anantara The Palm Close to $280 Million Sale - Bloomberg
Anantara The Palm Dubai, a luxurious resort on one of the city’s famous artificial tree-shaped islands, is close to being sold for 1.1 billion dirhams ($280 million), according to people familiar with the matter.
The hotel’s owner, United Arab Emirates-based developer Seven Tides, is working with Grant Thornton LLP on the potential sale, the people said, asking not to be identified as the talks are private.
The Anantara resort boasts 400 meters (1,312 feet) of private beach overlooking the Arabian Sea and a series of waterways in between almost 300 rooms and villas. Discussions are ongoing and there’s no certainty a deal will go ahead, the people said, who didn’t identify the potential buyer.
Representatives for Seven Tides said no one was available to comment, while Grant Thornton declined to comment.
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