Work continuing on Atlantis resort in Bahamas

Monday, June 6, 2005 | 9:46 a.m.

Filings with the Securities and Exchange Commission indicate that Kerzner International Ltd. is moving ahead with a third phase of its Atlantis resort in the Bahamas and has increased the estimated budget to $725 million.

The filing indicates that the company is nearing completion of a 75,000-square-foot Marina Village, which includes restaurants and retail shops.

Additional work on the new phase of the resort also will include a 500-room condo hotel, an 88-unit luxury condominium and private marina, expansion of the convention facilities and the resorts water attractions at Paradise Island. The original budget for the expansion was about $650 million.

Work is continuing on the second phase of the Harborside at Atlantis and the Ocean Club Residences & Marina, projected to cost about $60 million and $130 million, respectively.

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