Dubai-based real estate investment firm SKAI Holdings has completed more than 30% of the construction of its $1bn Viceroy Dubai Palm Jumeirah development, in time for the 2016 opening.

The project’s main contractor and key investor, China State Construction Engineering (Middle East) (CSCEC ME), has now started structural works on level 14 of the 16-storey building.

As part of the project, the mechanical, electrical and plumbing (MEP) and fit-out works are also underway.

"With almost a third of the construction completed on Viceroy Palm Jumeirah we are on schedule to open to guests in 2016." 

CSCEC ME president and CEO Yu Tao said: "With almost a third of the construction completed on Viceroy Palm Jumeirah we are on schedule to open to guests in 2016.

"Dubai’s tourism and hospitality sector continues to perform well, and with a clear vision and dynamic strategy led by government and fully supported by the private sector, we expect continued and sustainable growth over the mid and long-term."

The Viceroy Dubai Palm Jumeirah will include 477 rooms and suites, as well as 222 signature residences with services for both business and leisure guests.

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Additionally, the hotel will offer a spa, indoor fitness facilities and three outdoor swimming pools.

SKAI Holdings CEO of real estate development Nabil Akiki said: "Completing 30% of the Viceroy Dubai Palm Jumeirah marks a milestone for us and our partners, and further demonstrates our pledge to complete the project on time and to the highest standards.

"We have worked very closely with China State Construction & Engineering Companyand with our operators Viceroy to create a hotel and residence that is both luxurious in its feel and practical in its concept."