• The Capri Palace Jumeirah will reopen under the Jumeirah Group on June 25. All photos courtesy Jumeirah
    The Capri Palace Jumeirah will reopen under the Jumeirah Group on June 25. All photos courtesy Jumeirah
  • The hotel is perched on a cliff overlooking the Gulf of Naples
    The hotel is perched on a cliff overlooking the Gulf of Naples
  • The property has 68 elegant guest rooms
    The property has 68 elegant guest rooms
  • The Capri Palace was first built in 1960
    The Capri Palace was first built in 1960
  • The hotel also boasts two Michelin-starred restaurants
    The hotel also boasts two Michelin-starred restaurants
  • The grounds feature manicured gardens
    The grounds feature manicured gardens
  • The hotel has been visited by the likes of Sophia Loren and Julia Roberts
    The hotel has been visited by the likes of Sophia Loren and Julia Roberts
  • The interiors are complemented by a soothing, neutral colour palette
    The interiors are complemented by a soothing, neutral colour palette
  • The property also features a outdoor pool and spa
    The property also features a outdoor pool and spa
  • Ceramic tiles pay tribute to classic Italian styling
    Ceramic tiles pay tribute to classic Italian styling

Say ciao to Capri Palace: Jumeirah to open luxury hotel on Italian island this month


Emma Day
  • English
  • Arabic

If, travel restrictions permitting, you fancy experiencing la dolce vita, there'll soon be a new spot to stay at in one of Italy's hot spots.

Capri Palace, the renowned hotel on the Italian island, is set to reopen on Thursday, June 25, after being taken over by the Jumeirah Group.

The sprawling property, which was first built in 1960, is located in Anacapri, and boasts picturesque views of the Gulf of Naples.

The Capri Palace Jumeirah will welcome guests with health and safety measures in place in the wake of the coronavirus pandemic.

Scroll through the gallery above to see more of the Capri Palace Jumeirah.

The property, designed in the style of an 18th-century Neapolitan palazzo, has attracted a wealth of A-list guests in its lifetime, such as Harrison Ford, Julia Roberts, Sophia Loren, Audrey Hepburn and Grace Kelly.

The storied hotel is Jumeirah's first property in Italy, and will carry many of the luxurious hallmarks the UAE-headquartered group is known for.

Its 68 guest rooms are designed to echo Italian sensibilities, with ceramic tiles, a soft blue and white colour palette, and bespoke furniture. The hotel is speckled with classic and contemporary art, with works by De Chirico, Keith Haring and Pomodoro, among others.

Capri Palace is also home to two Michelin-starred restaurants – the Mediterranean eatery L’Olivo, which boasts two stars from the prestigious dining guide, and Il Riccio Restaurant & Beach Club, the only one Michelin-starred beach club in the world, which is named after the sea urchins it famously serves up.

“We are delighted to welcome our guests back to Capri Palace Jumeirah," said Ermanno Zanini, general manager of Capri Palace Jumeirah and regional vice president for Italy and Spain. "Our team have eagerly awaited this moment and are ready to provide the excellent service and unrivalled culinary experiences the hotel is known for."

The hotel also comprises the Capri Beauty Farm, a medical spa facility, as well as an outdoor pool and manicured gardens.

Jumeirah, which is behind UAE hotels such as Burj Al Arab and Jumeirah Al Naseem, first announced it had been appointed to operate and manage the Italian property in December.

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Moral education needed in a 'rapidly changing world'

Moral education lessons for young people is needed in a rapidly changing world, the head of the programme said.

Alanood Al Kaabi, head of programmes at the Education Affairs Office of the Crown Price Court - Abu Dhabi, said: "The Crown Price Court is fully behind this initiative and have already seen the curriculum succeed in empowering young people and providing them with the necessary tools to succeed in building the future of the nation at all levels.

"Moral education touches on every aspect and subject that children engage in.

"It is not just limited to science or maths but it is involved in all subjects and it is helping children to adapt to integral moral practises.

"The moral education programme has been designed to develop children holistically in a world being rapidly transformed by technology and globalisation."

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Results

Stage 7:

1. Caleb Ewan (AUS) Lotto Soudal - 3:18:29

2. Sam Bennett (IRL) Deceuninck-QuickStep - same time

3. Phil Bauhaus (GER) Bahrain Victorious

4. Michael Morkov (DEN) Deceuninck-QuickStep

5. Cees Bol (NED) Team DSM

General Classification:

1. Tadej Pogacar (SLO) UAE Team Emirates - 24:00:28

2. Adam Yates (GBR) Ineos Grenadiers - 0:00:35

3. Joao Almeida (POR) Deceuninck-QuickStep - 0:01:02

4. Chris Harper (AUS) Jumbo-Visma - 0:01:42

5. Neilson Powless (USA) EF Education-Nippo - 0:01:45

Benefits of first-time home buyers' scheme
  • Priority access to new homes from participating developers
  • Discounts on sales price of off-plan units
  • Flexible payment plans from developers
  • Mortgages with better interest rates, faster approval times and reduced fees
  • DLD registration fee can be paid through banks or credit cards at zero interest rates
Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5