Eight contractors priced the 16-month contract by the 5 December deadline. Package 1 centres on the construction of the port of entry hotel, which will have 300 rooms and 20 suites, three restaurants, convention and business facilities, retail outlets and parking. The hotel is scheduled to open in August 2003, a month before Dubai hosts the annual IMF/World Bank meetings.

Package 2 is due to be issued for bid by the end of January. Covering the balance of work on the development, it comprises a 300-room, five-star hotel, known as the Palace, luxury villas totalling 300 keys, a convention centre, health spa, traditional souk, and external works. The contract is set to be completed by April 2004.

The client is Jumeirah International; the project manager is Mirage Leisure & Developmentof South Africa.