Kylie Minogue to be paid £2million for 60-minute set at Dubai hotel opening party

It is the most hotly-anticipated new holiday resort on earth - so what better way to celebrate its opening than with a party to end all parties.

Owners of the sole resort on Dubai's extraordinary Palm Jumeirah manmade island are throwing the most expensive private party ever staged - at a cost of more than £16 million for the one-night bash.

Kylie Minogue is being paid an astonishing £2 million to perform a 60-minute set for 2,000 A-list guests at the party on November 20, making her performance among the best paid in entertainment history.

Kylie Minogue will get £2million for her 60-minute performance to open the Atlantis hotel in Dubai

The gig, to open the Atlantis hotel which shoots skyward from the outer ring of the Palm, will be a highlight of the night which also includes a colossal firework display costing a further £3 million.

The display designers - Grucci's - put on the Beijing Olympic fireworks but promise this display will be 'more expensive, more expansive and more complex' than both of the opening and closing Olympics firework displays put back to back.

The display will light up the entire 43 km of coastline of the Palm, an island whose beachside homes have already been bought up at a terrific rate by celebrities across the world.

Catering and further entertainment for the party itself will stretch to another £1.5 million with dinner designed by four Michelin-starred chefs including Giorgio Locatelli and Nobu Matsuhisa.

The stunning Atlantis hotel in Dubai will be officially opened on November 20

A stellar guestlist including politicians, actors, musicians and royalty will be flown in from around the world and will also be accommodated free at the resort. That is costing some £5,000 per head - a further £10 million.

The last time an Atlantic resort launched in the Bahamas, the gueslist included John Travolta, Whitney Houston, Janet Jackson and Stevie Wonder. This time, a wealth of premiership footballers will also be there, with the likes of The Beckhams already owning a home on the Palm.

The hotel itself is 'based on the Lost City of Atlantis', and despite its rather garish appearance inside and out, is a construction masterpiece rising 400ft into the sky where nothing but sea had been just five years ago.

Palm Jumeirah - Dubai's manmade island shaped like a palm tree

The hotel has 17 restaurants, a water park and some of the most extravagant suites on earth.

The Lost Chambers suites look out through huge underwater picture windows into the resort's 11 million litre lagoon, stocked with 65,000 fish, sharks and rays.

If money is no object, the Bridge Suite spans the archway between the hotel's two towers.

A British family are the first bookers, paying £45,000 for three nights: for that, they get three bedrooms, four staff and a gold-leafed dining table seating 18. Though that price is bed and breakfast only.

A spokesman for the resort refused to confirm how much was being spent on the launch party.