Skai Holdings, a Dubai-based real estate investment company, said it has completed over 30 per cent of the construction work at its $1-billion Viceroy Dubai Palm Jumeirah development, in the UAE, and was on track to open it in 2016.

China State Construction Engineering Corporation (Middle East), the project's main contractor and a key investor, has now begun structural works on level 14 of the 16-storey building, said a statement from Skai.

The Chinese firm has also started the mechanical, electrical and plumbing (MEP) works besides the fit- out work, it stated.

Yu Tao, the president and chief executive, said it was a landmark project for the China State team in the Middle East. "With almost a third of the construction completed on Viceroy Palm Jumeirah, we are on schedule to open it to guests in 2016," he stated.

"Dubai's tourism and hospitality sector continues to perform well, and with a clear vision and dynamic strategy led by the government and fully supported by the private sector, we expect continued and sustainable growth over the mid and long term," Tao noted.

The luxury residential and hospitality project will offer its guests 477 spacious rooms and suites and 222 signature Viceroy Residences with breath-taking views of the Arabian Sea and Dubai's dramatic skylines, said the statement from SKAI Holdings.

The property's attractive location, situated at the base of Palm Jumeirah, is easily accessible and just 15 minutes from the city's downtown centre, and just minutes away from major tourist and business attractions such as the Dubai Marina and Dubai Media City as well as the newly opened Dubai Tram, it added.

"Completing 30 per cent of the Viceroy Dubai Palm Jumeirah marks a milestone for us and our partners, and further demonstrates our pledge to complete the project on time and to the highest standards," said Tao.

Nabil Akiki, the chief executive of real estate development at Skai Holdings, said: "We have worked very closely with China State Construction & Engineering Company and with our operators Viceroy to create a hotel and residence that is both luxurious in its feel and practical in its concept."

"Viceroy Dubai Palm Jumeirah will feature services and amenities created especially for the mix of business and leisure guests expected to frequent the hotel and residences, combining business services and amenities with a true resort experience," he noted.

"The hotel will be home to numerous spectacular dining venues hosted by world-class chefs and a modern spa. A beach club and a 100 m-long pool will also be complemented by children's clubs, entertainment and sporting activities," he added.-TradeArabia News Service