Oh, and that image there you see.. that you call a "palace".. Thats the entrance area ;)
THIS is the hotel ...
http://www.emiratespalace.com/eng/Im...htview_web.jpg
And like Scotty said, its a Kempinski hotel, of course less than 50% ownership by them, since you can only open a company in UAE if you give 51% to a UAE citizen.. I bet the Emirate of Abu Dhabi owns most of it.