Wednesday, April 25, 2007

Dh.1billion project launched by Al Futtaim at the hi-tech hub of Dubai

A new development project worth Dh.1billion has been launched by Al Futtaim Real Estate, at Dubai Silicon Oasis, the integrated hub for high-tech industries.The development which is expected to cover an area of 62,820 Sq.mts., will be built in three phases. The first phase, worth Dh.200 million will be completed by mid-2008.

The project comprises residential and serviced apartment blocks, recreation blocks, car parks at the ground floor, surface car parks, external works, landscaping and other service utilities. In addition, the integrated circuit design centers, production lines and R&D facilities offer a cost-effective and quality model to the companies.

Muammar Khaled Al Khatheeri, the Director of Planning and Construction, Dubai Silicon Oasis Authority, mentioned that they are making every possible effort to maintain a high standard of living for people working at hospitals, shopping centers, academies, leisure and health facilities in Silicon Oasis. About Dh.40m has already been spent on landscape so that the quality of life in the apartments, hotels and villas are enhanced and the right environment for a luxurious lifestyle for people of Silicon Oasis could be provided.

The project will be executed by Al Futtaim Real Estate, under regular inspection of Dubai Silicon Oasis Authority. The General Manager of Al Futaim Real Estate, Nasser Mahmoud, describes Silicon Oasis, as an exciting project representing the concept of “city within a city” and provides all that is required for a life of style and comfort.

He added that, in addition to the central technology park and its business facilities, inclusion of the residential factor offered by Dubai Silicon Oasis Authority, will bring in added value to the kind of community lifestyle.

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