A new project is Dubai is set to create a special square that will include a luxury hotel, restaurants, bars and a fitness club

A new project is Dubai is set to create a special square that will include a luxury hotel, restaurants, bars and a fitness club.Called the Billionaire’s Square, the new development will be created in the Dubai Media City at the site of the current Palladium entertainment venue.

The project was launched by Flavio Briatore and the UAE’s Pragma Group. It is expected to be completed by the end of 2011 and could prove popular with those taking flights to Dubai.

“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,” explained Mr Briatore, reports Arabian Business.

It is expected that the total cost of the development could total $60 million (£37.2 million) and will include a 45-suite boutique hotel at its centre.

The Palladium site was sold to the Pragma Group in July and the company announced it planned an extension investment in to the location as part of an ongoing expansion into the growing Dubai market.

Written by Nicholas Scott.

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