The actor will be joined by his wife Gauri Khan and a group of other Bollywood friends are likely to check into a luxury hotel on the Palm Jumeirah from December 30 to January 1.
Actor Hrithik Roshan and his wife Susanne Khan, director Karan Johar and lawyer Kaajal Anand will also join the King Khan.
Khan, who has a home on the man-made island, however, plans to throw an extravagant party there, Emirates 24/4 reported.
According to the report, actor Chunky Pandey is also on the guest list while Arjun Rampal is reportedly yet to firm up his plans.