Thursday, June 28, 2007

Dubai Oasis to invest upto Dh.1billion in Sports City

The Dubai-based real estate developer, Dubai oasis, has announced that it is ready to invest upto Dh.1billion for developing four serviced apartment projects in Dubai Sports City.

The first being, the Oasis Tower-1, a part of residential and serviced apartment, is kept on sale a few months ago. The company statement reveals that it is almost hundred percent sold out.

The company said that the construction of the Oasis Tower-1 has already begun and is expected to hand over the project on schedule during fourth quarter of 2008. The second planned project in DSC was launched during first week of June, and will be a specially serviced apartment development. The company is also in the process of acquiring two other serviced apartment projects, due to be launched next year.

The Vice-President for Marketing and Sales, Hamid Ashtarani, said the ideal location of Oasis Tower-1 on the ridge of arterial water channel and the large man-made lake was one of its strongest selling propositions.

The Oasis Tower-1 comprises eighteen storeys with 232 units containing various facilities that include a rooftop gymnasium, swimming pool, commercial and food and beverage amenities.

He said "The foundation works are being carried out and full-scale construction is likely to commence within a couple of months. We intend to complete the project on schedule."

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