Posted by Bob Brunskill
Versace has said it is committed to completing its AED 2.3 billion Palazzo Versace Dubai resort.
Completion of the project is expected at the end of next year or early 2011, with construction currently at about 60 per cent, the National reports.
"The Versace Group is 100 per cent committed to this project and we foresee it will be a huge success" Santo Versace, the company's president told the newspaper.
Palazzo Versace will form the centrepiece of Culture Village, which is designed to become Dubai's cultural hub and an attractive prospect for anyone considering property investment in Dubai.
The resort will feature 217 hotel suites and 169 private residences furnished with Versace furniture as well as a Vanitas restaurant, a health spa, convention facilities and a Versace boutique.
The Culture Village management say that with the rapid rate of growth in the population and tourism of Dubai, the project will bring together the vast array of nationalities and cultures who visit the UAE.