Luxury five-star resort Anantara The Palm Dubai could be sold for AED 1.1 billion ($280 million), reports said.

Bloomberg reported citing anonymous sources that the property owner Seven Tides is considering the sale, working with Grant Thornton LLP, adding that there is “no certainty” that the deal will go ahead.   

The rumoured sale comes amidst a post-pandemic resurgence in tourism in the emirate, with experts saying visitor number records could be broken this year.

Located on the Crescent, Dubai Palm Jumeirah, the hotel opened in January 2014, and unlike other Anantara properties, is not owned by Minor Hotels, but operated by Seven Tides under licence from the Thai brand.

(Writing by Imogen Lillywhite; editing by Seban Scaria)