Saturday, August 04, 2007

Construction of 72 Business Bay Towers under progress

Construction work on phase one of 72 towers in Business Bay is in progress. This comprises one third of the total number of buildings in the master development that covers 64 million square meters.

More than eighty percent of Business Bay comprises developments by third-party investors, including international and regional property developers. The plots in the phase one of the multi-phase project are reported to have been completely sold out.

The Master developer of Business Bay, Dubai Properties, is building eighteen towers on the whole, including, Porsche Design Towers, Vision towers, Executive Towers, Signature Towers, Aspect Towers and more in pipeline.

The Executive Towers comprises eleven buildings out of which one is for commercial purpose and the rest nine for residential purposes. It also includes a Hotel with 303 rooms.

The overall project, on completion, will comprise residential units, office towers and retail and hotel areas. However, this is a commercial project, and aims to consolidate Dubai’s position as a global business hub and aims to meet the increasing demand for office space.

The other mixed-use master developments of Dubai Properties include The Villa, The Tijara Town, Culture Villas and Jumeirah Beach Residence.

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