Al Habtoor announces $1.3 billion Dubai project

On Wednesday Dubai-based real estate developer Al Habtoor Group announced a US$1.3 billion project to replace the historic Metropolitan Hotel in Dubai.

Al Habtoor plans to demolish the Metropolitan to build a massive mixed-use complex, complete with a large Las Vegas-style theater and three luxury hotels divided among 1,600 rooms. The hotel is scheduled to open in the first quarter of 2014. Al Habtoor said it is self-financing the project.

“There are three hotels, one is luxury, 6-star, and the other two are 5-star,” Al Habtoor vice chairman and CEO Khalaf Al Habtoor told Arabian Business.