One buyer has appeared on the 34-storey hotel part of Dubai's Marina 101 skyscraper after the price was reduced to 129 million dirhams

The search for a buyer for a 34-storey hotel complex in the Marina 101 skyscraper in the Dubai Marina district has finally moved forward. The application will most likely be submitted by a group of investors. According to undisclosed sources about the transaction, its amount will be about 129 million dirhams.

The hotel has been up for auction for some time. Initially, the seller requested 360 million dirhams. In recent weeks, the minimum requested rate has been reduced several times, and now stands at 129 million dirhams. Sources in the market report that there were other potential bidders interested in acquiring a hotel in one of the most famous places of Dubai Marina.

Marina 101 has had a difficult history for the last 15 years. The 1 billion dirhams project was launched as one of the tallest skyscrapers in the area. But its construction was constantly postponed.