In 2024, the resort's owner Emirates PVD went through financial troubles.

Palazzo Versace Dubai was put up for an online auction sale on the Emirates Auction website for nearly $380 million (AED1.4 billion).

[2] Palazzo Versace Dubai is developed on 130,000 square metres (1,400,000 sq ft) and opened in November, 2015.

It has 215 hotel rooms and suites, 169 residences, and 8 restaurants and bars.

The landscaped gardens offer views of the Dubai Creek and skyline.