Italian business personality Flavio Briatore will launch a $150m ‘Billionaire’s Square’ in Dubai in conjunction with Lebanon’s Pragma Group.
The project will consist of a Boutique Hotel, as well as a Billionaire Bar and Grill, alongside other restaurants, bars and a fitness club.
Billionaire’s Square will be built on the current site of the Palladium entertainment venue in Dubai Media City, and is scheduled for full completion in December next year.
“I believe Dubai is one of the strategic places for us – we try to have a club in a place where people go on holiday as well and Dubai is great mix of business and holiday,” Briatore told Arabian Business.
Pragma Group said the 45-suite boutique hotel will be run by “a famous brand” although that deal is still to be finalised. It will target the mid to upper segment of the market, its chairman added.
Lifestyle investment firm Pragma Group has built up a number of brands in the Middle East from its original base in Lebanon. It already operates a number of lifestyle destinations in Dubai, including the Cavalli Club in the Fairmont and the 400 Club.
