Infinity Tower got International Property Award
Friday, November 24, 2006
Infinity Tower has won an award in the 'Best Architecture' category in the International Property Awards in London. International Property Award is considered as the most prestigious award in the property world.
Earlier, Infinity Tower bagged awards for the 'Best Development, Dubai' and 'Best Architecture', 'Multiple Units, Dubai', 'Best Developer Website, Dubai' for and 'Best Property Marketing, Dubai' categories in the Arabian Property Awards.
Infinity Tower is a 80-storied building at 330 metres and has the highest twisting tower in the world. It offers one to four bedroom residential apartments with duplexes and penthouses on the higher levels. Street level has a designated shopping and retail outlets for both residents and visitors.
Every Infinity apartment has contemporary internationally styled interiors with marble and wood finishes, and premium fixtures and fittings. It has high-speed Internet and access to digital/satellite TV, state-of-the-art air conditioning, and a comprehensive automation system to control lights, air-conditioning and other functions from a central handset.
The building includes a fully landscaped podium with a rooftop park, outdoor infinity pool, whirlpool and children's pool, located on the seventh floor. Other amenities include a health spa with treatment rooms, a gymnasium, conference rooms, cigar lounge, a fully-equipped nursery, an outdoor tennis court and a fully enclosed parking garage with state-of-the-art security.
Labels: Property Awards
Plaza Mayor launched
Makaseb, Ishraqah and Ta’sees announced the joint venture project of Dh3bn worth 'Plaza Mayor'. The joint venture agreement was signed by Hisham Abdul Ghani, Founder of Makaseb Holding Ltd., Hesham El Far, CEO, Ishraqah and Saad Ibrahim Al Moosa, President of Ta’sees.
The Plaza Mayor is situated in Jumeirah Village. It is inspired by its Spanish namesake and will cater to local sensibilities by absorbing UAE market preferences. The Plaza Mayor is expected to cover approximately 3 million square feet of built up area, with a ground surface area of over half a million square feet.
The towers will offer parking and retail level with a premium 4-storey hotel with 80 five-star rooms. The towers will have 45 levels of premium office space. The Plaza Mayor project is expected to act as a key commerce and tourism driver on completion.
Saudi enters world property stage
Thursday, November 23, 2006
Saudi Arabian property developers participated at Cityscape, Dubai. The organisers of the largest international B2B real estate event are said to be surprised by the Saudi Arabia's response.
Cityscape 2005 had 1,200 square metres of space booked by Saudi companies. This year the figure it has gone up to 2,500 square metres, with around twenty major Saudi companies.
Cityscape Dubai is held at the Dubai International Exhibition Centre. It will be held on December 4 to 6 2006.
The Saudi government has promised to provide every Saudi citizen with a home. The Saudi government has also revealed plans to upgrade and expand the country's electricity network and water supplies, the construction of which will cost an approximately around $700 million.
Social BookmarkingCityscape 2005 had 1,200 square metres of space booked by Saudi companies. This year the figure it has gone up to 2,500 square metres, with around twenty major Saudi companies.
Cityscape Dubai is held at the Dubai International Exhibition Centre. It will be held on December 4 to 6 2006.
The Saudi government has promised to provide every Saudi citizen with a home. The Saudi government has also revealed plans to upgrade and expand the country's electricity network and water supplies, the construction of which will cost an approximately around $700 million.
Abyaar appoints Pulse Holdings
Kuwait's Abyaar Real Estate Development has appointed Pulse Holdings to drive develop all commercial, hospitality and retail outlets.
Pulse will activate Abyaar's Dubai Marina apartment towers which will be followed by a further major development to be launched at this year's Cityscape. Pulse was chosen for its proven retailing expertise at the luxury end of the market.
With previous experience of placing prestigious brands in the most successful mixed-use projects in Dubai, including Emirates Towers and Souk Madinat Jumeirah, Pulse understands the needs and expectations of consumers, developers and retailers.
Pulse revealed that the Abyaar contract involved maintaining the company's key differentiators through profiling the retail mix to meet stakeholders' exacting demands.
Social BookmarkingPulse will activate Abyaar's Dubai Marina apartment towers which will be followed by a further major development to be launched at this year's Cityscape. Pulse was chosen for its proven retailing expertise at the luxury end of the market.
With previous experience of placing prestigious brands in the most successful mixed-use projects in Dubai, including Emirates Towers and Souk Madinat Jumeirah, Pulse understands the needs and expectations of consumers, developers and retailers.
Pulse revealed that the Abyaar contract involved maintaining the company's key differentiators through profiling the retail mix to meet stakeholders' exacting demands.
Labels: Luxury Homes, New Contracts
Sama Dubai supports launch of ECAT
Sama Dubai took part in the Environmental Symposium on 'Challenges and Threats to the Environment - Lessons from the Past to Shape the Future', as the Strategic Sponsor. The seminar was held from November 14-15 in Dubai.
'The Lagoons,' was a landmark development of Sama Dubai and was taken as an example for the event. The project has been designed and constructed to ensure harmonious existence with the surrounding ecosystems.
The purpose of this event was to explore innovations and developments in hazardous and non-hazardous waste management practices, discuss ideal methods for assessing environmental threats and observe the impact of environmental and health awareness programmes on reducing, reusing and recycling wastes.
Social BookmarkingThe two day event marked the official launch of the Environmental Centre forSama Dubai was the only real estate developer supporting the event. Sama Dubai's environmental best practices and wide ranging initiatives to ensure the conformity of its projects, operations and procedures to the highest international environmental standards were highlighted in the event.
Arab Towns (ECAT). ECAT was founded by the Arab Town Organization (ATO) in 2005. ECAT is a scientific research institute that deals with environmental issues
concerning Arab cities' natural resources.
'The Lagoons,' was a landmark development of Sama Dubai and was taken as an example for the event. The project has been designed and constructed to ensure harmonious existence with the surrounding ecosystems.
The purpose of this event was to explore innovations and developments in hazardous and non-hazardous waste management practices, discuss ideal methods for assessing environmental threats and observe the impact of environmental and health awareness programmes on reducing, reusing and recycling wastes.
TAKtical International invest in Dubai
US-based TAKtical International announced its plans to invest Dh250 million in the UAE real estate sector through its Dubai-based subsidiary, TAKtical Realty Group.
TAKtical International further added that the investments will be announced by December. Tariq Khan, founder and managing director of TAKtical International said that the affordable housing market is largely overlooked in Dubai but there is scope for such projects in other emirates of the UAE.
Social BookmarkingTAKtical International further added that the investments will be announced by December. Tariq Khan, founder and managing director of TAKtical International said that the affordable housing market is largely overlooked in Dubai but there is scope for such projects in other emirates of the UAE.
Home ownership in Dubai
There are many risks involved while buying a property, especially for those venturing the market for the first time.
Many buyers have been shortchanged by developers who cut corners to reduce costs.
Some developers land in deep trouble by making savings on things which cannot be seen, such as wiring and drains. The quality of construction is often hideous.
There is an oversimplification of the property market in Dubai. More importance is given to square-foot rates and the quality of construction is often neglected.
Dubai developers lack the experience of building villas in wet climates and so do not have the necessary understanding of managing rainfall.
Air conditioning of a house is a crucial factor. Cheaper-built villas will have the uglier, officestyle square ceiling vents, as opposed to less obtrusive recessed units. Each room must have its own control unit, otherwise one will end up conditioning empty rooms and running up a huge, unnecessary electricity bill. Villas with individual room controllers may be more expensive, but will help save money in the long run.
Social BookmarkingMany buyers have been shortchanged by developers who cut corners to reduce costs.
Some developers land in deep trouble by making savings on things which cannot be seen, such as wiring and drains. The quality of construction is often hideous.
There is an oversimplification of the property market in Dubai. More importance is given to square-foot rates and the quality of construction is often neglected.
Dubai developers lack the experience of building villas in wet climates and so do not have the necessary understanding of managing rainfall.
Air conditioning of a house is a crucial factor. Cheaper-built villas will have the uglier, officestyle square ceiling vents, as opposed to less obtrusive recessed units. Each room must have its own control unit, otherwise one will end up conditioning empty rooms and running up a huge, unnecessary electricity bill. Villas with individual room controllers may be more expensive, but will help save money in the long run.
Labels: Real Estate News
Pay attention to property service charges
Property industry is rapidly maturing. Service charges are forming an important part of any property deal. Investors are paying more attention to the sales and purchase agreements.
Service charges include the cost of maintaining a building. Most property owners living in apartments or villa compounds with shared facilities have to pay them, because it is the only manageable way to share the costs of looking after the property.
Service charges cover things like repairs, cleaning, security and shared amenities such as porters, community gardens or swimming pools. One is supposed to pay a small share of everything even if he or she does not use some of the services.
Service charges form a vital part and a clause on the same must appear in the sales and purchase agreement. Before signing any property contract, service charges should be clarified.
The agreement should state what services you are paying for, how the landlord or property manager will collect payment, how the amount is calculated, how it is divided between tenants and whether there is a 'sinking' or reserve fund.
The tenant is entitled to check whether costs are reasonable. The buyers must necessarily insist on transparency.
Social BookmarkingService charges include the cost of maintaining a building. Most property owners living in apartments or villa compounds with shared facilities have to pay them, because it is the only manageable way to share the costs of looking after the property.
Service charges cover things like repairs, cleaning, security and shared amenities such as porters, community gardens or swimming pools. One is supposed to pay a small share of everything even if he or she does not use some of the services.
Service charges form a vital part and a clause on the same must appear in the sales and purchase agreement. Before signing any property contract, service charges should be clarified.
The agreement should state what services you are paying for, how the landlord or property manager will collect payment, how the amount is calculated, how it is divided between tenants and whether there is a 'sinking' or reserve fund.
The tenant is entitled to check whether costs are reasonable. The buyers must necessarily insist on transparency.
Lagoon Lounge opened
The Governor of Muharraq, Lagoon Bahrain opened its first on-site, customer relations centre, 'The Lagoon Lounge', on Amwaj Islands.
The centre is expected to process investor transactions of up to $120 million.
A considerable amount of business is expected to be conducted in the Lagoon Lounge over the next couple of months.
The Lagoon Lounge aims to streamline all back-office operations for sales and investor service. The Lagoon Lounge has been designed in the style of The Lagoon Bahrain.
It is now the main hub for business deals.
Social BookmarkingThe centre is expected to process investor transactions of up to $120 million.
A considerable amount of business is expected to be conducted in the Lagoon Lounge over the next couple of months.
The Lagoon Lounge aims to streamline all back-office operations for sales and investor service. The Lagoon Lounge has been designed in the style of The Lagoon Bahrain.
It is now the main hub for business deals.
Mayadeen buys buildings in Emaar Business Park
Tuesday, November 21, 2006
Kuwait's National Ranges Company (Mayadeen) said it has acquired two buildings in Emaar Business Park on Sheikh Zayed Road for Dh500 million. It also announced plans to invest another Dh105m in a commercial building under construction at Dubai Healthcare City.
The company has bought three adjacent lands 1,231 square metres in the Shams Abu Dhabi development. The firm is buying real estate assets in Dubai and Abu Dhabi in order to expand in the real estate sector.
The company plans to build four high-rise towers for residential and commercial use in Shams Abu Dhabi. Construction is slated to begin early next year and is expected to end in mid-2009.
Mayadeen has bought Building No 2 and No 4 in Emaar Business Park on Sheikh Zayed Road. They are fully occupied and have a combined built-up area of 34,627sq m, and have a current rental yield of 6.2 and 8.6 per cent.
Mayadeen has contracted to buy an office building that is under construction in Dubai Healthcare City, with a built-up area of 7,523sq m, for Dh105m. It is expected to be completed by the end of this month.
Social BookmarkingThe company has bought three adjacent lands 1,231 square metres in the Shams Abu Dhabi development. The firm is buying real estate assets in Dubai and Abu Dhabi in order to expand in the real estate sector.
The company plans to build four high-rise towers for residential and commercial use in Shams Abu Dhabi. Construction is slated to begin early next year and is expected to end in mid-2009.
Mayadeen has bought Building No 2 and No 4 in Emaar Business Park on Sheikh Zayed Road. They are fully occupied and have a combined built-up area of 34,627sq m, and have a current rental yield of 6.2 and 8.6 per cent.
Mayadeen has contracted to buy an office building that is under construction in Dubai Healthcare City, with a built-up area of 7,523sq m, for Dh105m. It is expected to be completed by the end of this month.
Makaseb Holding invest Dh20 billion
Monday, November 20, 2006
Makaseb Holding, a regional real estate investment company, was launched here with an investment of Dh20 billion. The money is expected to touch Dh100bn over the next 10 years.
A rapid growth has been witnessed in real estate market. Makaseb has been formed with an aim to enter the real estate market by acquiring existing real estate projects and developing new ones.
Makaseb means "profit" in Arabic. It is a joint venture between AA Investment Company, a Fujairah and Ras Al Khaimah-based business, Pakistan's Rufi Group, Egypt's Sharm Land and Quattro Limited. Each company own a 25 per cent stake in the project. Makaseb aims to develop master-built communities and commercial, residential and hotel projects.
Social BookmarkingA rapid growth has been witnessed in real estate market. Makaseb has been formed with an aim to enter the real estate market by acquiring existing real estate projects and developing new ones.
Makaseb means "profit" in Arabic. It is a joint venture between AA Investment Company, a Fujairah and Ras Al Khaimah-based business, Pakistan's Rufi Group, Egypt's Sharm Land and Quattro Limited. Each company own a 25 per cent stake in the project. Makaseb aims to develop master-built communities and commercial, residential and hotel projects.
Abu Dhabi rent cap may bring down inflation
Abu Dhabi rent cap is expected to bring down the inflation across the country. Standard Chartered Bank has slashed its UAE's 2007 inflation forecast to 7.30 per cent from 9.60 per cent.
Abu Dhabi's rent cap aims to avoid cost-of-living pressures and is lower than its own forecast of an 18 per cent increase in rents next year.
Inflation is expected to fall to 7.30 per cent in 2007, down from 13.80 per cent in 2006, according to Steve Brice, regional head of research, Standard Chartered Bank. An inflation survey released in September in the GCC countries revealed that the 2005 and 2006 inflation was much higher than official estimates.
Abu Dhabi's move to cap rent increase at seven per cent in 2007 has had an impact on the inflation outlook.
Social BookmarkingAbu Dhabi's rent cap aims to avoid cost-of-living pressures and is lower than its own forecast of an 18 per cent increase in rents next year.
Inflation is expected to fall to 7.30 per cent in 2007, down from 13.80 per cent in 2006, according to Steve Brice, regional head of research, Standard Chartered Bank. An inflation survey released in September in the GCC countries revealed that the 2005 and 2006 inflation was much higher than official estimates.
Abu Dhabi's move to cap rent increase at seven per cent in 2007 has had an impact on the inflation outlook.
Labels: Rentals
Aldar properties to issue sukuk
Aldar Properties stated that it is waiting for an approval from the Ministry of Economy, to issue a sukuk, or Islamic bond and/or debentures in early 2007.
The decision to seek ministry approval for the issue and listing of a sukuk on the Abu Dhabi Stock Exchange was taken at a board meet on October 30th.
This move will give Islamic finance investors an opportunity to participate in the issue and Aldar Properties will take advantage of the current liquidity in the Islamic finance market.
Social BookmarkingThe decision to seek ministry approval for the issue and listing of a sukuk on the Abu Dhabi Stock Exchange was taken at a board meet on October 30th.
This move will give Islamic finance investors an opportunity to participate in the issue and Aldar Properties will take advantage of the current liquidity in the Islamic finance market.
Dubai Silicon Oasis to build 750 new villas
Friday, November 17, 2006
Dubai Silicon Oasis has announced to build 750 new villas at its 7.2 million square metre facility.
It will invest Dh3.5 billion in building the villas. This will include the infrastructure, landscaping, 560 villas, staff accommodation and a sewage treatment plant as well as the DSO headquarters. Construction is slated to begin early next year.
Apart from this project, DSO has approved the construction of 40 towers with a total investment of Dh2.8 billion.
DSO is Dubai government's vision to attract investment in high-tech industries, especially electronics components, semiconductors and micro-chips.
Once the project is completed, DSO will host more than 100,000 residents who can live and work within the community.
Social BookmarkingIt will invest Dh3.5 billion in building the villas. This will include the infrastructure, landscaping, 560 villas, staff accommodation and a sewage treatment plant as well as the DSO headquarters. Construction is slated to begin early next year.
Apart from this project, DSO has approved the construction of 40 towers with a total investment of Dh2.8 billion.
DSO is Dubai government's vision to attract investment in high-tech industries, especially electronics components, semiconductors and micro-chips.
Once the project is completed, DSO will host more than 100,000 residents who can live and work within the community.
RAK Airport Tower Project launched
Tasees launched the Ras Al Khaimah's AED 1 billion Airport Towers project.
The project is situated in the Ras Al Khaimah Airport Free Zone near the RAK airport. This project aims to drive in increased commerce and tourism to the emirate and also function as a business services nexus.
Saad Ibrahim Al Moosa, President of Ta’sees; Eng. Mohammad Saleh, President of Al Aqariya Group; Oussama El Omari, CEO, Ras Al Khaimah Free Trade Zone (RAKFTZ) Authority and Eng Hisham Abdul Ghani, Chairman A&A Investment attended the launch.
The Airport Towers project comprises of 10 commercial towers with 10 floors, two tower blocks of furnished apartments, a luxury hotel and a cargo village. The park will also have a building for Rnata Travels.
The RAKFTZ is an important partner in the emirate's development, and is trying to attract further capital flows to RAK's economy.
The Airport Towers project will offer hospitality, residential, corporate and retail space in the emirate of Ras Al Khaimah.
Social BookmarkingThe project is situated in the Ras Al Khaimah Airport Free Zone near the RAK airport. This project aims to drive in increased commerce and tourism to the emirate and also function as a business services nexus.
Saad Ibrahim Al Moosa, President of Ta’sees; Eng. Mohammad Saleh, President of Al Aqariya Group; Oussama El Omari, CEO, Ras Al Khaimah Free Trade Zone (RAKFTZ) Authority and Eng Hisham Abdul Ghani, Chairman A&A Investment attended the launch.
The Airport Towers project comprises of 10 commercial towers with 10 floors, two tower blocks of furnished apartments, a luxury hotel and a cargo village. The park will also have a building for Rnata Travels.
The RAKFTZ is an important partner in the emirate's development, and is trying to attract further capital flows to RAK's economy.
The Airport Towers project will offer hospitality, residential, corporate and retail space in the emirate of Ras Al Khaimah.
Limitless unveils Downtown Jebel Ali
Limitless unveiled Downtown Jebel Ali, a township worth Dh70 billion township. It added that Downtown Jebel Ali will house 235,000 people.
The project is considered a massive one and is expected to be completed in phases by 2011. It will occupy an 11 kilometre land stretch covering 200 hectares with built-up area of 70 million square feet.
The infrastructure work is slated to be completed by 2009 while the entire project is slated for completion by 2011.
Social BookmarkingThe project is considered a massive one and is expected to be completed in phases by 2011. It will occupy an 11 kilometre land stretch covering 200 hectares with built-up area of 70 million square feet.
The project is expected to have a total of 326 buildings out of whichThe project is said to be connected to Dubai with four Dubai Metro stations and an automated people mover system.
237 will be residential and the rest commercial. It will be divided into four quarters, each divided into three districts with business, residential, dining and retail facilities.
The infrastructure work is slated to be completed by 2009 while the entire project is slated for completion by 2011.
Dubai Industrial City begins Shuaib Residential Complexes
Dubai Industrial City unveiled the construction of Shuaib Residential Complexes worth DH1.6 billion accomodation complex.
Shuaib Residential Complexes is expected to conform to the highest national and international health and quality standards and will provide the most advanced labour infrastructure in the region.
The complex is proposed to have diverse leisure and recreation centers such as retail outlets, coffee shops, communication centers, cinemans, hotels, sports facilities.
Essential facilities like health clinics, banking facilities, police, fire stations, laundry and mosques will also be included in the complex.
The complex will have 87,000 beds stretching over seven plots of the industrial facility.
Social BookmarkingShuaib Residential Complexes is expected to conform to the highest national and international health and quality standards and will provide the most advanced labour infrastructure in the region.
The complex is proposed to have diverse leisure and recreation centers such as retail outlets, coffee shops, communication centers, cinemans, hotels, sports facilities.
Essential facilities like health clinics, banking facilities, police, fire stations, laundry and mosques will also be included in the complex.
The complex will have 87,000 beds stretching over seven plots of the industrial facility.
Ras Al Khaimah announced Yasmin Village
Ras Al Khaimah announced the launch of Yasmin Village at a press conference.
Yasmin Village is a rural residential and commercial project in Ras Al Khaimah. It has a mountain view ans is away from city life. The project has lot of open space and ideal setting with villas, apartments, office space and communtiy buildings.
Yasmin Village proposes to have rain water harvesting, chemical-free sewage treatment plant with latest biotechnology. It also has plans to use solar energy for lighting throughout the development and will use battery operated vehicles for a shuttle service for residents.
Yasmin Village will have a ring road that encircles the entire development.
Social BookmarkingYasmin Village is a rural residential and commercial project in Ras Al Khaimah. It has a mountain view ans is away from city life. The project has lot of open space and ideal setting with villas, apartments, office space and communtiy buildings.
Yasmin Village proposes to have rain water harvesting, chemical-free sewage treatment plant with latest biotechnology. It also has plans to use solar energy for lighting throughout the development and will use battery operated vehicles for a shuttle service for residents.
Yasmin Village will have a ring road that encircles the entire development.
Labels: Villa Projects
Ishraqah to invest in real estate
Ishraqah announced that it will invest Dh6 billion in the next two years in real estate projects around the world.
Ishraqah has revealed plans to create distinctive developments in several markets such as Morocco, India, Pakistan and Egypt. It has said that it will follow the international real estate standards and provide distinctive projects in all the markets.
Ishraqah has already bought an Dh1.48 billion plot of land from Limitless where it will build a residential project in Jumeirah Village by the the end of this year.
Social BookmarkingIshraqah has revealed plans to create distinctive developments in several markets such as Morocco, India, Pakistan and Egypt. It has said that it will follow the international real estate standards and provide distinctive projects in all the markets.
Ishraqah has already bought an Dh1.48 billion plot of land from Limitless where it will build a residential project in Jumeirah Village by the the end of this year.
Sungwon to build luxury towers in Dubai
Sungwon Corporation plans to invest over $1.2 billion in property development in the Middle East in UAE's property market over the next three years.
Sungwon plans to invest by entering an alliance with Dubai Properties. Sungwon plans to pump in the money for building unique world-class lifestyle developments at Business Bay and Culture Village. Sungwon also plans to build luxury towers in Dubai.
Sungwon is one of the large integrated real estate, construction and engineering company of South Korea that has built many luxury high-rise residential/mixed use complexes.
Sungwon is known for its high rise mixed-use complexes, civil works, environmental plants and special projects, including championship golf courses, world class stadia and resorts. In 2005, Sungwon has built 52 commercial and residential projects so far.
Social BookmarkingSungwon plans to invest by entering an alliance with Dubai Properties. Sungwon plans to pump in the money for building unique world-class lifestyle developments at Business Bay and Culture Village. Sungwon also plans to build luxury towers in Dubai.
Sungwon is one of the large integrated real estate, construction and engineering company of South Korea that has built many luxury high-rise residential/mixed use complexes.
Sungwon is known for its high rise mixed-use complexes, civil works, environmental plants and special projects, including championship golf courses, world class stadia and resorts. In 2005, Sungwon has built 52 commercial and residential projects so far.
Labels: Business Bay, Luxury Homes
Daffa International, Middle East Real Estate form JV
Grubb & Ellis/Gulf States Realty Advisors has been set up in order to provide real estate services to Qatar and the Gulf region.
Grubb&Ellis/Gulf States Realty Advisors is a joint venture company between Daffa International Company and Middle East Real Estate Services.
Daffa International will hold 51 per cent stake while Middle East Real Estate Services will have the remaining 49 per cent.
The tie-up is an effort to boost Qatar's real estate sector.
Social BookmarkingGrubb&Ellis/Gulf States Realty Advisors is a joint venture company between Daffa International Company and Middle East Real Estate Services.
Daffa International will hold 51 per cent stake while Middle East Real Estate Services will have the remaining 49 per cent.
The tie-up is an effort to boost Qatar's real estate sector.
Maximus Group begins Silicon Oasis project
Maximus Group has begun work on two of its debut ventures at Silicon Oasis in Dubai, The Dunes and The Apricot. The project are worth Dh360 million.
The Dunes will offer apartments with balconies, terraces and gardens and other leisure facilities while the Apricot will offer premium open office spaces of the highest specification.
The projects are slated to be completed in the first quarter of 2008. Larsen & Toubro, India's largest contractors have been signed to build the project.
Social BookmarkingThe Dunes will offer apartments with balconies, terraces and gardens and other leisure facilities while the Apricot will offer premium open office spaces of the highest specification.
The projects are slated to be completed in the first quarter of 2008. Larsen & Toubro, India's largest contractors have been signed to build the project.
Hilton comes up with first residence in Dubai
Hilton Hotels has unveiled its plans of first residence property in Dubai. The hotel chain plans to build a 371-apartment Hilton Jumeirah Beach Residence in September next year.
A.A Al Moosa Enterprises owns the project and Hilton International will manage the same. The project will be located near the golden sandy beaches of the Dubai Jumeirah strip, and proposes to offer a home away for Dubai residents. It is said to offer a complete lifestyle experience for the residents. The Hilton Jumeirah Beach Residence is aimed to be a premier place for leisure and business travellers.
The tower will be 44-storied and will feature a blend of Arabesque and Mediterranean design elements. There will be one-bedroom to four bedroom apartment types, including five loft and two penthouse apartments.
Social BookmarkingA.A Al Moosa Enterprises owns the project and Hilton International will manage the same. The project will be located near the golden sandy beaches of the Dubai Jumeirah strip, and proposes to offer a home away for Dubai residents. It is said to offer a complete lifestyle experience for the residents. The Hilton Jumeirah Beach Residence is aimed to be a premier place for leisure and business travellers.
The tower will be 44-storied and will feature a blend of Arabesque and Mediterranean design elements. There will be one-bedroom to four bedroom apartment types, including five loft and two penthouse apartments.
Labels: New Hotels
Bando Construction to invest in UAE
Wednesday, November 15, 2006
South Korean property developer Bando Construction and Engineering has revealed plans to invest in UAE's real estate projects next year. It said it will invest approximately $1 billion.
The company added that it plans to unveil many new developments including retail, commercial and residential units.
Bando Construction and Engineering is a 30-year-old company which has more than 280 professionals working in Korea. It builds approximately around 2,000 apartments every year and has a sales turnover of more than Dh1.83 billion in South Korea.
Bando’s Chairman Hong-Sa Kwon said, 'We aim to establish our hold here, but are also considering opportunities throughout the region.'
Social BookmarkingThe company added that it plans to unveil many new developments including retail, commercial and residential units.
Bando Construction and Engineering is a 30-year-old company which has more than 280 professionals working in Korea. It builds approximately around 2,000 apartments every year and has a sales turnover of more than Dh1.83 billion in South Korea.
Bando’s Chairman Hong-Sa Kwon said, 'We aim to establish our hold here, but are also considering opportunities throughout the region.'