Premier of Queensland meets EIH Board Members on UAE visit

Encouraging rising trade ties between UAE and Australia, the Premier commended EIH's investment in the Palazzo Versace Gold Coast, Australia and the development of the landmark Palazzo Versace in Dubai.

Premier Beattie was also very keen to see the location of the upcoming Palazzo Versace Dubai resort on the prominent Dubai Creek, along the D1 Residential Tower site. The new Palazzo Versace Dubai is a waterfront luxury resort with suites and villas all furnished with Versace products.

A joint venture between Australia-based Sunland Group and Emirates International Holdings, the Emirates Sunland Group is responsible for the development and management of the Palazzo Versace Dubai. EIH also has a 50% stake in Palazzo Versace Gold Coast, Australia and the Sunland Group.

Speaking on his visit to the UAE, the Premier of Queensland, Australia, Peter Beattie said: "We are definitely witnessing growing trade ties between Australia and UAE. The establishment of the Emirates Sunland Group and the development of the Palazzo Versace Dubai are clear examples of this fact. We look forward to improving the investment environment on both sides through efficient processes and practices."

Commenting on the growth, Raza Jaffar, Managing Director, Emirates Investment Group (EIG) added: "We had carefully evaluated the investment climate in Australia and the strength of the Palazzo Versace brand. Definitely, Australia provides a great investment environment conducive for quick growth and rapid return-on-investment. There are also excellent processes in place for technology exchange and other business-related activities for foreign investors. We look forward to greater participation in the trade exchange between UAE and Australia."