Dream Las Vegas, a 20-story, 531-room hotel-casino, is under construction and is expected to open on the Las Vegas Strip.

The property is being developed by Shopoff Realty Investments and the Dream Hotel Group.

The $550 million development will feature seven dining and nightlife venues, 12,000 square feet of meetings and event space, and a 20,000- square-foot casino run by Peninsula Pacific Entertainment. There will be a pool and day club on the third level, as well as a coffee cafe and gelateria on the street level.

The dream hotel will be in Miami.

William Shopoff, the president and CEO of Realty Investments, said that the project represented a new type of Vegas hotel experience.

Las Vegas will be an important asset in the company's growing portfolio, which includes 15 hotels and 25 locations in various stages of development.

Jay Stein, Dream Hotel Group CEO, said, "All of us at Dream are proud to play a part in creating what will be one of the most spectacular new additions to Las Vegas." There is a vibrant, youthful energy and dynamic cultural arts and entertainment scene in Las Vegas that is unlike anything else in the world.