Palazzo Versace Resort Hotel in Dubai – opening postponed for 2014
Palazzo Versace Dubai was launched in 2006 by Emirates Sunland Group, a 50/50 joint venture between Enshaa’s subsidiary firm Emirates International Holdings (EIH) and Australian developer The Sunland Group. In October 2011, Enshaa Services Group, another subsidiary of Enshaa, took control of the project as part of a swap deal.
According to arabianbusiness.com the project has encountered a series of delays since its launch due to different issues, including financing, lack of water and problems with a nearby dhow ship yard and a complete project redesign. The Palazzo Versace Dubai has so far missed its original completion date by four years, and is still not being constructed at full speed.