Italian businessman and former Formula One mogul Flavio Briatore has launched Billionaires Square - a new project in Dubai Media City. The aptly titled development will be built at the site of the Palladium, an entertainment venue located across the Sheikh Zayed Road from The First Group’s Metro Central Hotel Apartments in Tecom. The development will be created in conjunction with the UAE’s Pragma Group, who bought the Palladium venue back in July.
The high end development is set to include restaurants, bars and a health and fitness club, with a boutique hotel located at the centre. Billionaire’s Square is scheduled for completion in December 2011, at a reported cost of around $60 million.