Monday, May 21, 2007

Dh.800m project launched by Cayan

Cayan Investment and Development, a real estate developer holding projects worth Dh.15billion to its credit, has recently launched 'Dubai Marina', a Dh.800million development.

The project comprises two residential towers, worth Dh.700,000 to Dh.20million constructed on a podium of retail space. The apartments were open for sale yesterday in a function at the Burj Al Arab Hotel.

According to Cayan officials, the project is due for completion by 2010, and by that time most buildings at Dubai Marina will be ready. It is said that in comparison to other towers in the Marina, this project will be a better bet, due to its close proximity to the boating club and the Marina Mall.

Architect Hazel Wong, the Regional Director of RMJM, has designed the exterior for this project. She was also the designer for the Emirates Towers in Dubai.

The 36 and 26 storey towers of the project, comprises apartments varying from studios, duplexes, three bedroom and penthouses. The soil testing has already been completed, and the piling contract will be announced soon.

The Chairman of Cayan, Ahmad Al Hat0ti, declining the view of analysts that the market is likely to soften, mentioned that they have been facing good demand for the other projects, and more demand is being expected by the end of the year.

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