Dubai Pearl Project Is Being Demolished Due To Lack Of Investors

The construction of Dubai Pearl Project started in 2002, however, it was never completed due to lack of investment.

The 73-storey building project was announced the day Brazil won the FIFA World Cup. Its initial plans included four towers, 1,490 apartments, 60 restaurants, seven five-star hotels, and a 1,600-seat theatre.

Having a prime location, between Dubai Media City and Knowledge Village, the aim was to build a ‘city within a city.’

Its construction was on-and-off due to shaky investments.

In October 2022, a Canadian hotel company ‘MOON’ showed its interest in redeveloping the project, calling it ‘Dubai Moon’ project.

“We believe the Dubai Pearl would be a perfect location for Moon Dubai; indeed it would be absolutely stunning,” Moon World Resorts’ co-founder Michael Henderson told Arabian Business.

He also said, “if Moon received the investment it needed, the resort would be built in 48 months. With an overall height of 224 metres, the project would have more than 1,000 hotel rooms, low gravity areas, an indoor garden, and many other features to attract potential investors.”

“Moon Dubai will be the largest and most successful modern-day tourism project within the entire MENA region,” said Moon World Resorts’ Matthews and Henderson.

“(The project will) double annual tourism visitations to Dubai based on its global appeal, brand awareness, and unique multiple integrated offerings.”

However, the building is being demolished since it has not received its $5 billion funding.