The more advanced of the two projects is the estimated $100 million Fairmont Abu Dhabi resort and villas development, where land reclamation has been completed and piling is under way on the breakwater site. The local Dewan Architects & Engineers, which is acting as consultant, is midway through the project's design. Tenders for the main package will be issued by early February 2005 with an award expected in May. The National Investment Corporationscheme calls for the construction of a 265-room, Arabian-themed hotel with leisure facilities, 50 villas, waterways and a regulation FIFA soccer pitch.

Construction of the Palm Jumeirah Fairmont hotel and resort in Dubai is scheduled to begin in the first quarter of 2005. Kuwait-based IFA Hotels & Resortsin joint venture with Saudi Arabia's Kingdom Hotel Investment Groupis implementing the 300-room luxury resort and 460 holiday residences, to be located on the southwest side of The Palm . HHCP Design Internationalof the US is carrying out schematic designs; the architect is South Africa's DSA Architects International.

The development forms part of a $500 million investment programme by IFA on the Palm, which also includes the Souk Palm shopping and apartment complex and the Palm Residence Club.

IFA Hotels & Resorts is a division of International Financial Advisors (IFA), a joint stock investment firm listed on the Kuwait Stock Exchange (KSE - MEED 19:12:03).