Tuesday, May 03, 2011

23 Marina Tower to surpass The Torch as world's tallest residential tower

Dubai is back in limelight, with announcements of launching record-breaking towers.

Hircon International, one of the leading Dubai-based developers, have begun handover of the 395-metre tall 23 Marina tower located in Dubai Marina, which will surpass The Torch by nearly 47 meters, the tallest residential tower in the world, also in Dubai.

The Director of Hircon International, Darshan Hiranandani, revealed that the tower has got all the utility connections in place, and the residents are expected to occupy the apartments by August this year.

The 90 storey tower comprises 288 apartments and three penthouses, including double and triple bedroom apartments and four bedroom duplexes, ranging from 1709 sq. ft. to 5,775 sq. ft.

Meanwhile, Select Group, one of the private property developers, earlier this week, had announced handover of ‘The Torch’ tower, an 86-storey 348mts tall residential tower in Dubai Marina, which currently holds the title of being the world's tallest residential tower.

In November 2010, the President of Tameer Holding, Federico Tauber, said that the 107-storey ‘Princess Tower’ and the 91-storey Elite Residence in Dubai Marina will also be delivered in the fourth quarter. The 414 meter tall Princess Tower has a total of 763 units, while the 381 meter tall Princess Tower has total of 696 units.

According to Hiranandani, an occupancy rate of 50 to 60 percent is expected for the 23 Marina tower. This is mainly because majority of the investors are end-users. Moreover, Hircon is also helping investors to re-sell their apartments if they wish to.

No comments: