Istithmar PJSC and Kerzner International Limited have recently signed a $700 million financing agreement with a consortium of banks to raise funds for the Atlantis, The Palm project. The project will include two hotels totalling some 2,000 rooms, conference and meeting facilities and the largest aquatic theme park in the region.
Valued at $1.2 billion, it will be financed through the $700 million loan facility and $500 million of equity.
