FW: The Royal Island Beach Club on The World's Lebanon island is set to open any day now
Mohammed Niyas
From: Lakshmi R. Nair
Sent: Tuesday, February 14, 2012
10:01 AM
To: Naresh Jethani; Mohammed
Niyas; Fayas; Fedelia Murzello; Sairam; Arun
Subject: FW: The Royal Island
Beach Club on The World's Lebanon
island is set to open any day now
From: Vinu Valsen
[mailto:Vinu....@bankofsharjah.com]
Sent: Tuesday, February 14, 2012
8:09 AM
To: Lakshmi
R. Nair
Subject: FW: The Royal Island
Beach Club on The World's Lebanon
island is set to open any day now
Indian entrepreneur Wakil Ahmed Azmi bought the island in 2008. Wakil Ahmed Azmi has spent around AED68m on buying and developing the island.
The beach club includes a 100-seat restaurant, cabanas, a lounge area and entertainment facilities. Guests will pay a set fee of AED200 to visit the island while Saturday's will cost around AED700 with an all-inclusive brunch.
The Friday nightclub "Stranded" will be priced around AED250 for entrance and transport. ‘The World’ epitomised Dubai's boom-time ambition exemplified by its indebted developer Nakheel. Construction on the offshore project ground to a virtual standstill in the wake of the economic downturn. Nakheel has said 70 percent of the 300 manmade islands are sold and that building work is the responsibility of the owners. Nakheel has claimed a number of buyers are in default, while a source told Arabian Business in July the developer had changed terms on payment schedules previously agreed with buyers of islands to fast-track the collection of fees.
The new demands were allegedly issued after a revamp of Nakheel’s chairman and board in March 2010, as the developer sought to restructure millions of dollars of debt.
"Lebanon is a very important structure for us," said Saeed Harib, Managing Director, Nakheel Marine and Leisure.
"This puts a new destination on the map and paves the way for more developments on The World - and more reasons for people to visit Dubai," said Saeed Harib.
Throughout the week, the Royal Island Beach Club will only be accessible via a 25-minute journey on a private yacht or RTA water taxi. For special events, including the weekly. Friday club night Stranded, the RTA plans to run a 100-capacity river taxi from Jumeirah Beach Park. The cost of the journey is likely to be included in the venue's ticket price.
The state-backed firm said future packages are expected to include tours of the World islands, night cruises and diving packages. ‘Cruise with Nakheel’ offers trips for groups of up to 12, 15 and 30 people around the Palm Jumeirah. The service will operate daily from 9-5pm and lasts one hour.
The company wrote down the value of its real estate by AED 78.6bn after the credit crisis and received an $ 8.6bn bailout from Dubai’s government.
Vinu Valsen
Current Account Department
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