Dubai’s opulent Palazzo Versace up for sale, with $163 million starting price

Palazzo Versace Dubai, one of the most luxurious hotels in the UAE, is hitting the auction block with a starting price of $163 million, a figure significantly lower than its previous valuation of $380 million, after its owner ran into financial trouble.

Among the interested buyers is Swiss-Italian banker Christopher Aleo, who is planning a bold move through his New York-listed iSwiss Hedge Fund to bring in global investors.

More than just a real estate deal, this could mark a symbolic return of the opulent property to Italian hands, with Aleo aiming to blend luxury, heritage, and innovation in a refreshed vision for the hotel.

If it goes through, the acquisition could become one of 2025’s most talked-about deals in global hospitality and finance.

The hotel spans 130,000 square meters and features 215 rooms and suites, 169 private residences, and eight upscale restaurants and lounges along the shores of Dubai Creek.