Funding concerns haunt Dubai underwater hotel plan Water Discus hotel faces an uncertain future after a critical investor firm an**unced its withdrawal from the project. The underwater hospitality project planned for Dubai was an**unced three years ago after Dubai Drydocks World approved its plans. The hotel was to comprise two saucer-shaped components, one underwater, and the other above, "with a shaft running through the centre", local daily The National reported. “The design would make the hotel very popular among tourists,” Lech Rowinski, the co-founder of the Polish company behind the project, Deep Ocean Tech**logy, told the daily. “However, we are still looking for an investor to build it.” According to Rowinski, the hotel could cost $43.6m – “€40 million or so” – to build. The development is yet to find an investor, however, after Swiss firm Big Invest, an important financial backer for the project, split with Deep Ocean Tech**logy. Khamis Buamim, the chairman at Drydocks World who had ratified the previous agreement, also resigned earlier this year. “We were in contact with Dubai World but after the change of chairmanship, the talks have ceased for a while,” Rowinski said. “We have sent them some designs but have had ** response yet," the report added. RELATED ARTICLES: Qatar-eyes-underwater-TV-studio-for-World-Cup-2022 , Dubai-underwater-villa-plans-yet-to-be-approved- , Building-of-Dubai-s-underwater-hotel-to-begin ,
07-25-2015, 05:38 PM
Funding concerns haunt Dubai underwater hotel plan
Water Discus hotel faces an uncertain future after a critical investor firm an**unced its withdrawal from the project. The underwater hospitality project planned for Dubai was an**unced three years ago after Dubai Drydocks World approved its plans. The hotel was to comprise two saucer-shaped components, one underwater, and the other above, "with a shaft running through the centre", local daily The National reported. “The design would make the hotel very popular among tourists,” Lech Rowinski, the co-founder of the Polish company behind the project, Deep Ocean Tech**logy, told the daily. “However, we are still looking for an investor to build it.” According to Rowinski, the hotel could cost $43.6m – “€40 million or so” – to build. The development is yet to find an investor, however, after Swiss firm Big Invest, an important financial backer for the project, split with Deep Ocean Tech**logy. Khamis Buamim, the chairman at Drydocks World who had ratified the previous agreement, also resigned earlier this year. “We were in contact with Dubai World but after the change of chairmanship, the talks have ceased for a while,” Rowinski said. “We have sent them some designs but have had ** response yet," the report added. RELATED ARTICLES: Qatar-eyes-underwater-TV-studio-for-World-Cup-2022 , Dubai-underwater-villa-plans-yet-to-be-approved- , Building-of-Dubai-s-underwater-hotel-to-begin ,
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