Burj Al Alam contract to be awarded within four weeks
Saturday, May 09, 2009
The main construction contract for the Burj Al Alam, the 501-meter tall commercial tower at the Business Bay district of Dubai, due to be one of the tallest buildings in the world, will be awarded within four to five weeks.
The Sales Co-ordinator of the project at Fortune Group, Muhammed Athar, said that the company is carrying on the final stages of negotiation with contractors, but declined to reveal the names of the firms who had been bidding for the deal.
About Dh.1bn had been kept aside from the original budget, and the construction is now likely to touch Dh.3bn. This is mainly due to lower building material costs, and the contractor for the project would be announced within five weeks, Athar said.
Athar also pointed out that the finances would be managed by the company's own resources, although other sources may be considered, if required.
Launched in 2006, Burj Al Alam was more than 50 percent sold. The foundations work was done by Middle East Foundations and is now complete. The tower, as per the scheduled, will be ready by the first quarter of 2012.
The Sales Co-ordinator of the project at Fortune Group, Muhammed Athar, said that the company is carrying on the final stages of negotiation with contractors, but declined to reveal the names of the firms who had been bidding for the deal.
About Dh.1bn had been kept aside from the original budget, and the construction is now likely to touch Dh.3bn. This is mainly due to lower building material costs, and the contractor for the project would be announced within five weeks, Athar said.
Athar also pointed out that the finances would be managed by the company's own resources, although other sources may be considered, if required.
Launched in 2006, Burj Al Alam was more than 50 percent sold. The foundations work was done by Middle East Foundations and is now complete. The tower, as per the scheduled, will be ready by the first quarter of 2012.
Labels: Business Bay, Fortune, New Contracts
Omniyat signs partnership deal for leasing services at Business Bay
Sunday, May 03, 2009
Omniyat Property Service (OPS), an arm of Omniyat Asset Management has entered into a strategic partnership with leading leasing service providers for major projects at Business Bay.
Omniyat is the first company to lease in Business Bay, the major accomplishment by Dubai, announced Mehdi Amjad, the Chairman and CEO of Omniyat Properties.
The company will deliver two major projects, namely, One Business Bay and Bayswater, worth a total of Dh.1billion. OPS, together with Jones LangLa Salle and CB Richard Ellis Limited-Middle East, guarantees unique leasing solutions to address the individual needs of owners and tenants in Omniyat.
The partnerships ensure that the development attract tenants from markets all over the world and ensures higher occupancy rates in the buildings. Moreover, the rent-free incentives, fit-out offerings and international standard of property management will help in attracting quality tenants.
With six commercial developments in the master plan, the OPS team is the first to deliver the new Central Business District in the region. Being the only company with leasable space in Business Bay, the partners will help in establishing standards for lead market research on vacancy rates and lease rates and pipeline stock.
The Director and Head of Agency Mena at Jones Lang LaSalle, Matt Hammond, said that great emphasize is being laid on customer service and Jones Lang LaSalle will help in finding the right fit for each tenant and owner through innovative deal structures, by bringing the right people together.
Omniyat is the first company to lease in Business Bay, the major accomplishment by Dubai, announced Mehdi Amjad, the Chairman and CEO of Omniyat Properties.
The company will deliver two major projects, namely, One Business Bay and Bayswater, worth a total of Dh.1billion. OPS, together with Jones LangLa Salle and CB Richard Ellis Limited-Middle East, guarantees unique leasing solutions to address the individual needs of owners and tenants in Omniyat.
The partnerships ensure that the development attract tenants from markets all over the world and ensures higher occupancy rates in the buildings. Moreover, the rent-free incentives, fit-out offerings and international standard of property management will help in attracting quality tenants.
With six commercial developments in the master plan, the OPS team is the first to deliver the new Central Business District in the region. Being the only company with leasable space in Business Bay, the partners will help in establishing standards for lead market research on vacancy rates and lease rates and pipeline stock.
The Director and Head of Agency Mena at Jones Lang LaSalle, Matt Hammond, said that great emphasize is being laid on customer service and Jones Lang LaSalle will help in finding the right fit for each tenant and owner through innovative deal structures, by bringing the right people together.
Labels: Business Bay, Leasing, Omniyat
Work initiated at Tameer's Platinum Towers
Wednesday, April 15, 2009
Tameer, the leading property developer, has commenced its works on the mixed-use twin tower development located at Dubai’s Business Bay, namely, The Platinum Towers.
The CEO of Tameer, Ghassan Sheiknini, expressed his happiness over the commencement of works, and said that this emphasizes the commitment by the company to meet the expectations of investors and customers.
The Development Director of Platinum Towers, John Zwets, said that the site mobilization, which began in early February, has been continuing for the past couple of weeks.
In the next few weeks, the secant-wall piles will be installed to retain the parking basement excavation, he revealed.
Located at the heart of Dubai's Business Bay, the Platinum Towers includes two 29-storey towers, positioned adjacent to each other. Each tower comprises 3 basements, one ground floor with state-of-the-art amenities, including health club, gymnasium hall, 984 parking spaces and shopping amenities.
The CEO of Tameer, Ghassan Sheiknini, expressed his happiness over the commencement of works, and said that this emphasizes the commitment by the company to meet the expectations of investors and customers.
The Development Director of Platinum Towers, John Zwets, said that the site mobilization, which began in early February, has been continuing for the past couple of weeks.
In the next few weeks, the secant-wall piles will be installed to retain the parking basement excavation, he revealed.
Located at the heart of Dubai's Business Bay, the Platinum Towers includes two 29-storey towers, positioned adjacent to each other. Each tower comprises 3 basements, one ground floor with state-of-the-art amenities, including health club, gymnasium hall, 984 parking spaces and shopping amenities.
Labels: Business Bay, Construction Projects, Tameer
Damac unveils XL Tower at Business Bay
Tuesday, January 06, 2009
Damac Properties has announced the launch of 'XL Tower', a modern, elegant commercial tower, located at Dubai's Business Bay.
The tower, which has reached Podium level 3, has been in records for utilizing maximum concrete pour ever, in the company's history, when about 5,500 cubic meters of concrete was poured in less than 25 hours.
Covering 153,000 square feet of space and with 8,700 square feet of retail space at the ground level, including shopping arcade, and covered walkway and parking for staff and customers, the modern, the XL Tower is an apt business location.
The XL Tower is equipped with all modern amenities such as hi-speed internet, 24-hour security cameras, swipe access, parking on 7 levels and 3 basements, swimming pool, gymnasium, aerobics room, outdoor jogging track, cafeteria, and health club.
Speaking about the progress of the tower, CEO of Damac Properties, Peter Riddoch said that being an emerging and most sought-after district for freehold residential and commercial properties, all the 13 properties by Damac at Business Bay, have received commendable response.
He revealed that CSHK Dubai Contracting (LLC), a group member of China State Construction Engineering (Hong Kong) Limited have been appointed as contractors for XL Tower.
So far, about 120 nationalities have purchased properties from Damac Properties, and the property developer has provided good support services. The company offers solutions through its vast regional network with offices location in UAE, Saudi Arabia, Kuwait, Qatar, Iraq, Jordan, Egypt, UK and Lebanon.
The tower, which has reached Podium level 3, has been in records for utilizing maximum concrete pour ever, in the company's history, when about 5,500 cubic meters of concrete was poured in less than 25 hours.
Covering 153,000 square feet of space and with 8,700 square feet of retail space at the ground level, including shopping arcade, and covered walkway and parking for staff and customers, the modern, the XL Tower is an apt business location.
The XL Tower is equipped with all modern amenities such as hi-speed internet, 24-hour security cameras, swipe access, parking on 7 levels and 3 basements, swimming pool, gymnasium, aerobics room, outdoor jogging track, cafeteria, and health club.
Speaking about the progress of the tower, CEO of Damac Properties, Peter Riddoch said that being an emerging and most sought-after district for freehold residential and commercial properties, all the 13 properties by Damac at Business Bay, have received commendable response.
He revealed that CSHK Dubai Contracting (LLC), a group member of China State Construction Engineering (Hong Kong) Limited have been appointed as contractors for XL Tower.
So far, about 120 nationalities have purchased properties from Damac Properties, and the property developer has provided good support services. The company offers solutions through its vast regional network with offices location in UAE, Saudi Arabia, Kuwait, Qatar, Iraq, Jordan, Egypt, UK and Lebanon.
Labels: Business Bay, Commercial Property, Damac Properties
World's first exclusive tower for women entrepreneurs at Business Bay
Wednesday, October 01, 2008
A leading UAE-based international property developer, Hydra Properties, has announced the completion of excavation work for Eve's Tower at Business Bay, the first exclusive tower for women entrepreneurs in the world.
Eve's Tower forms a part of the iconic Hydra Towers that consists of five unique shaped high-rise towers that forms the 'core' of largest commercial hub in the Middle East. Growing 20 storeys and facing Burj Dubai, Eve's Tower will resonate with the aspirations of businesswomen.
The design and hi-tech amenities in the region will go a long way to complement the ambitions and strategic outlook of today's women of substance, a top company official said.
The project is due for completion by 2010, and is implemented by Middle East Foundations Company. National Engineering Bureau is the Engineering Consultancy.
Dr. Sulaiman Al Fahim, CEO, Hydra Properties said that Eve's Towers at Business Bay is of topmost priority for the company. The building has been conceptualized as a tribute to the nurturing spirit of womanhood, world over.
He expressed confidence that the tower will form a new awakening and unleash the entrepreneurial talent of UAE women and contribute to overall growth of region and nation. The Construction Manager of Hydra Properties, Mahmoud Saad, revealed that Hydra Properties has successfully completed the excavation work, and is now focusing on piling work. The main contractor for the project would be announced soon.
Hydra Properties has carved a niche for itself by working on series of landmark projects across continents, starting with Hydra Waves in Mexico to Al Aqeeq Marina in Kuwait.
Labels: Business Bay, Business Tower, Latest News
Business Bay likely to be a global business hub in future
Tuesday, September 16, 2008
Prices at Business Bay are likely to cross Dh.5000 per square foot mark from the present Dh.3500 to Dh.4000 per square foot during the coming months, predicts an industry expert.
The CEO of Aakar Developers, Yadvinder Singh, recently said that with Dubai drawing considerable attention from more businesses and people, a huge shortage of commercial properties are likely in future. Business Bay apart from being the only main business hub for Dubai, will rise to be a global hub for all businesses.
Although commercial properties in localities such as the Dubai Media City, Dubai Internet City, Dubai Financial Center and TECOM continue to remain attractive, they come with certain limitations and are open only to few kinds of business activities. But properties at Business Bay are used to conduct all types of businesses, and hence there is a greater demand for commercial space at the Bay, which is likely to be the hub for every industry, he pointed out.
According to Singh, the current price of Dh.4000 per square foot at Business Bay is comparatively cheaper than established international hubs such as New York, London, Singapore or Hong Kong. The prices here are soon likely to cross Dh.5000 per square foot mark, he said.
Business Bay is an ideal location for all businesses based in Bur Dubai, Deira and adjacent areas who are seeking relocation of their businesses to Business Bay, due to its close proximity to Dubai Mall, Burj Dubai and DIFC.
"The business-friendly Dubai continues to attract an increasing number of individuals and companies to its shores. Corporates are finding it difficult to establish offices here. Being a flourishing business hub, they require the best location for setting up an office, and Business Bay will be the next business hub not only for Dubai, but for the world. Owning an office at Business Bay would be prestigious" he added.
Any new developer seeking to begin a project at Business Bay will have to think twice before investing, as a plot of land here will cost him thrice more than what he would have ideally paid two years ago. This coupled with mounting construction and labour costs will need a serious thought before embarking on a project under prevailing conditions, Singh said.
The CEO of Aakar Developers, Yadvinder Singh, recently said that with Dubai drawing considerable attention from more businesses and people, a huge shortage of commercial properties are likely in future. Business Bay apart from being the only main business hub for Dubai, will rise to be a global hub for all businesses.
Although commercial properties in localities such as the Dubai Media City, Dubai Internet City, Dubai Financial Center and TECOM continue to remain attractive, they come with certain limitations and are open only to few kinds of business activities. But properties at Business Bay are used to conduct all types of businesses, and hence there is a greater demand for commercial space at the Bay, which is likely to be the hub for every industry, he pointed out.
According to Singh, the current price of Dh.4000 per square foot at Business Bay is comparatively cheaper than established international hubs such as New York, London, Singapore or Hong Kong. The prices here are soon likely to cross Dh.5000 per square foot mark, he said.
Business Bay is an ideal location for all businesses based in Bur Dubai, Deira and adjacent areas who are seeking relocation of their businesses to Business Bay, due to its close proximity to Dubai Mall, Burj Dubai and DIFC.
"The business-friendly Dubai continues to attract an increasing number of individuals and companies to its shores. Corporates are finding it difficult to establish offices here. Being a flourishing business hub, they require the best location for setting up an office, and Business Bay will be the next business hub not only for Dubai, but for the world. Owning an office at Business Bay would be prestigious" he added.
Any new developer seeking to begin a project at Business Bay will have to think twice before investing, as a plot of land here will cost him thrice more than what he would have ideally paid two years ago. This coupled with mounting construction and labour costs will need a serious thought before embarking on a project under prevailing conditions, Singh said.
Labels: Business Bay, Market Trends
IRIS launches IRIS Crystal commercial tower at Business Bay
Saturday, May 03, 2008
IRIS, a leading property developer in the region, has officially launched the Dh.600mn IRIS Crystal, during an event held at the InterContinental Hotel on 28th April.
Located at the heart of Business Bay, the 25-storey five-star luxury business development is a freehold office tower, covering 300,000 Square Feet of floor space and 12,000 Square Feet of retail space on the ground level.
Designed by well-known international architects, Aedas, IRIS Crystal will be a commercial tower with prominent architectural features and rich interiors with finest fittings and innovative technologies incorporated. The tenants will have access to a wide range of amenities including health and fitness facilities, state-of-the-art business center, retail outlets all complemented by modern office infrastructure.
The interior will be so designed that it ensures efficient usage of space and light, accommodating six high-speed elevators, nine levels of parking with sufficient parking space for 672 cars, 24 hours secturity, high-speed internet connectivity in all units, state-of-the-art CCTV systems, Smart Card access control, apart from offering unparalleled aesthetics, which ensures high return on investments.
The starting prices of units at IRIS Crystal is nearly Dh.2,976 per Sq. Ft.
The IRIS CEO and the Managing Director of Sheth Estate, Ashwin Sheth, when speaking during the launch, mentioned that the impressive growth of Dubai economy has led to increased demand for office space at prime locations, and that IRIS is proud to introduce another iconic development in Dubai's prime business hub.
The IRIS CEO and the Managing Director of Sheth Estate, Ashwin Sheth, when speaking during the launch, mentioned that the impressive growth of Dubai economy has led to increased demand for office space at prime locations, and that IRIS is proud to introduce another iconic development in Dubai's prime business hub.
Labels: Business Bay, Business Tower, Commercial Property, Freehold Property
Omniyat awards The Opus contract to Multiplex
Thursday, March 27, 2008
The main construction contract of Omniyat's Dh.1.7bn 'The Opus', a commercial and retail development at Business Bay, has been awarded to Multiplex, one of the leading commercial construction contractors in the region.As per the contract, Multiplex has been given the responsibility of managing the development's construction and timely and on-budget delivery of the development.
The President and Chief Executive of Omniyat, Mehdi Amjad, said "The main factor behind awarding the contract of The Opus to Multiplex, is their excellent track record of delivering highly complex, prestigious and challenging projects. We are confident that Multiplex and Omniyat can work together to complete construction of The Opus in a timely and cost-effective manner."
The Opus, located on a unique 'Island' plot, is ideally positioned to provide tenants exclusivity, with a spectacular view of Burj Dubai and the Signature Towers, without any adjoining properties or projects.
Designed with the commercial tenant in mind, The Opus will be ready by 2010. At present more than 80 percent of the development has been sold out.
The project, designed by Zaha Hadid, the renowned architect, will enhance the Business Bay skyline with its unique, iconic, and artistic architectural structure.
Labels: Business Bay, Commercial Property, New Contracts, Omniyat
Omniyat launches Octavian, twin-tower at Business Bay
Saturday, March 08, 2008
Omniyat Properties has announced the launch of 19-storey modern office twin-tower, Octavian, in Business Bay, which happens to be the eighth project by the company in the prestigious downtown business hub of the city.Octavian, is another 'intelligent' development by Omniyat that reflects futuristic technologies, and is named after 'Galius Julius Caesar Octavianus', the first emperor of Rome and the man behind the most significant developments of the eternal city.
The President and CEO of Omniyat Properties, Medhi Amjad, said "Emperor Octavianus is remembered for his dynamic and inspirational approach to development, the qualities, which we believe are reflected in the unique structure of Octavian, a modern interpretation of a three-dimensional ornament."
The Octavian, which has received approval of RERA (Real Estate Regulatory Authority in Dubai), is a joint-venture between Omniyat and Investate, a Bahrain-based real estate investment company in which Omniyat has a 40 percent stake.
Even before its public launch, 13 floors out of the 19 floors of Octavian were sold within two days. According to a company official, the mad rush is due to the confidence that customers posses in the Omniyat brand name coupled with the strong international appeal of Business Bay.
The Octavian is a unique form of two-transparent towers, connected by a black center-piece, which is so designed that it sparkles in sunlight, emanating lightness and strength. The interior is designed in a manner so as to deliver easy maintenance and operation, along with a classic touch. Both towers of the Octavian has three podiums and four basement parking levels with 1250 bays and hi-tech security as a part of the facility. The ground floor of the building will be alive with 60,000 square feet of land set aside for retail space including restaurants, shops and other outlets.
Located in close proximity to Dubai International Convention and Exhibition Center and the Dubai International Financial Center, the Octavian is designed by Kling Consult, a renowned German Engineering. Enabling work of the project will begin in the third quart this year, and will be complete by 2011.
The Dh.1.2bn project will be the first project of Omniyat this year, and is one of the eight developments which will quadruple the value of the company's Dubai property portfolio to Dh.21bn this year.
Last year the company had doubled its sales and tripled its profits compared to that achieved during the year 2006.
Labels: Business Bay, Business Tower, Office Space, Omniyat
Boris Becker Tower unveiled in Dubai
Tuesday, February 26, 2008
A leading German real estate developer and affiliate of Alternative Capital Investments, ACI real estate, has announced completion of its Dh.2.2 billion worth 'Triology Project', through the launch of 'Boris Becker Business Tower'.
The Boris Becker Business Tower includes three commercial towers with each being 19 storey high, covering an area of 250,000 square feet in area and a gross commercial space of 452,000 square feet.
Speaking during the occasion of the launch, the tennis legend, Boris Becker, stated that the Dubai city, with its state-of-the-art-infrastructure matches the offerings of this tower, and the regional investment climate is founded on valid economic fundamentals.
He continued, "I have been fortunate enough to have a career, but, just as in any athlete's life, the end is inevitable. So now, I can plan my second career, and travel to most exciting destinations like Dubai."
The ACI Managing Director, Robin Lohmann revealed that ACI plans to expand its portfolio with new projects expected at Ajman and Abu Dhabi.
"We have long term commitments in the UAE market, which is reflected in our recent project launches and branch expansion to Abu Dhabi. The initial five projects on Reem Island in Abu Dhabi are due for launch shortly, and another ACI office will be open in Doha, towards the second half of this year. These developments provide investors with the opportunity to participate in a city, known and respected throughout the world."
The ACI real estate project, The Sports Legends Triology, is backed by Nikki Lauda, Michael Schumacher and Boris Becker who have lent their names to the project.
The tower is worth around Dh.500 million, with all the units already sold out. The project is due for completion by 2009 or 2010, in Business Bay.
The Boris Becker Business Tower includes three commercial towers with each being 19 storey high, covering an area of 250,000 square feet in area and a gross commercial space of 452,000 square feet.
Speaking during the occasion of the launch, the tennis legend, Boris Becker, stated that the Dubai city, with its state-of-the-art-infrastructure matches the offerings of this tower, and the regional investment climate is founded on valid economic fundamentals.
He continued, "I have been fortunate enough to have a career, but, just as in any athlete's life, the end is inevitable. So now, I can plan my second career, and travel to most exciting destinations like Dubai."
The ACI Managing Director, Robin Lohmann revealed that ACI plans to expand its portfolio with new projects expected at Ajman and Abu Dhabi.
"We have long term commitments in the UAE market, which is reflected in our recent project launches and branch expansion to Abu Dhabi. The initial five projects on Reem Island in Abu Dhabi are due for launch shortly, and another ACI office will be open in Doha, towards the second half of this year. These developments provide investors with the opportunity to participate in a city, known and respected throughout the world."
The ACI real estate project, The Sports Legends Triology, is backed by Nikki Lauda, Michael Schumacher and Boris Becker who have lent their names to the project.
The tower is worth around Dh.500 million, with all the units already sold out. The project is due for completion by 2009 or 2010, in Business Bay.
Labels: Business Bay, Business Tower, Commercial Property
ACI launches Michael Schumacher business tower in Dubai
Saturday, February 09, 2008
A prestigious business tower, "Michael Schumacher Business Avenue" has been launched by ACI Real Estate in Business Bay, Dubai. ACI is an affiliate of Alternative Capital Invest Gmbh, a leading alternative investment solution firm.
The tower is the second phase of the sports-branded real estate project by ACI, which is an ambitious plan to transform the Business Bay district into an architectural delight, defined by three spectacular towers, each of which are named after legendary sports super-stars.
The Business Avenue offer prominent office spaces with eye-catching views of Burj Dubai, the world's tallest building. The tower also houses the first Michael Schumacher Business Center that offers hi-tech facilities, with state-of-the-art design that matches international standards.
The launch of the business tower is the second in a series of three projects, introduced into the market by ACI. The Niki Lauda Twin Tower has been already launched last month, and Boris Becker Business Tower, is next in line to be launched in February 2008.
The tower was launched by the Seven-time Formula One World Champion, Michael Schumacher himself. Speaking on the occasion of the launch, the Managing Director of ACI, Robin Lohmann, said that only few properties in the world can boast about the direct involvement from the greatest F1 driver in the world. Michael Schumacher represents the commitment and energy to excel, and the ambition required for every business enterprise to reach the top position, and only a city like Dubai, befits such an association.
The tower is the second phase of the sports-branded real estate project by ACI, which is an ambitious plan to transform the Business Bay district into an architectural delight, defined by three spectacular towers, each of which are named after legendary sports super-stars.
The Business Avenue offer prominent office spaces with eye-catching views of Burj Dubai, the world's tallest building. The tower also houses the first Michael Schumacher Business Center that offers hi-tech facilities, with state-of-the-art design that matches international standards.
The launch of the business tower is the second in a series of three projects, introduced into the market by ACI. The Niki Lauda Twin Tower has been already launched last month, and Boris Becker Business Tower, is next in line to be launched in February 2008.
The tower was launched by the Seven-time Formula One World Champion, Michael Schumacher himself. Speaking on the occasion of the launch, the Managing Director of ACI, Robin Lohmann, said that only few properties in the world can boast about the direct involvement from the greatest F1 driver in the world. Michael Schumacher represents the commitment and energy to excel, and the ambition required for every business enterprise to reach the top position, and only a city like Dubai, befits such an association.
Labels: Business Bay, Business Tower, Dubai Real Estate
Sale of Al Madar's Scala an Siraj towers, a huge success
Monday, February 04, 2008
Al Madar's Scala and Siraj Towers have brought about robust sales for the company.
The 18 storey residential complex, Scala Tower, with 182 apartments, located at Business Bay, Dubai, has been completely sold out. On the other hand, the 30 storey residential complex, Siraj Tower, located at Arjan in dubailand, has been 50 percent sold out, revealed the property developer.
"Both the Towers have achieved enormous sales success, which far exceeds out expectations. We believe that this could be the fruitful result of our commitment to deliver on time, top-class properties, that are greatly appreciated by clients and investors. Also, Dubai's increasing reputation of being an attractive investment destination, has also been vital to the success of Al Madar," quoted the Group Managing Director, Haider Mashhadi.
Al Madar already has a range of exciting projects in pipeline for the current year, including Bellagio, an office tower at Liwan in Dubai, Coppet, and commercial facility at Arjan - Dubai, apart from purchase of various leading properties across major locations in Doha, GCC and Dubai. As a part of its expansion plans for the current year, Al Madar has also begun construction of two more office towers and a hotel in Doha, and has purchased a new plot in Lusail, and a comprehensive integrated development in Qatar where a 15-storey building is likely to be constructed by the company.
The 18 storey residential complex, Scala Tower, with 182 apartments, located at Business Bay, Dubai, has been completely sold out. On the other hand, the 30 storey residential complex, Siraj Tower, located at Arjan in dubailand, has been 50 percent sold out, revealed the property developer.
"Both the Towers have achieved enormous sales success, which far exceeds out expectations. We believe that this could be the fruitful result of our commitment to deliver on time, top-class properties, that are greatly appreciated by clients and investors. Also, Dubai's increasing reputation of being an attractive investment destination, has also been vital to the success of Al Madar," quoted the Group Managing Director, Haider Mashhadi.Al Madar already has a range of exciting projects in pipeline for the current year, including Bellagio, an office tower at Liwan in Dubai, Coppet, and commercial facility at Arjan - Dubai, apart from purchase of various leading properties across major locations in Doha, GCC and Dubai. As a part of its expansion plans for the current year, Al Madar has also begun construction of two more office towers and a hotel in Doha, and has purchased a new plot in Lusail, and a comprehensive integrated development in Qatar where a 15-storey building is likely to be constructed by the company.
Labels: Business Bay, Residential, Sales
Deyaar launches Dh1.5bn Bristol Towers at Business Bay
Saturday, January 19, 2008
One of the region's fastest growing real estate companies, Deyaar, yesterday, unveiled Bristol Towers, a Dh.1.5bn twin tower project in Business Bay.With the inclusion of Bristol Towers, Deyaar has about a dozen projects in Business Bay. The properties of Deyaar, are one of the most sought-after in the development.
The Chief Executive of Deyaar, Zack Shahin, said "Bristol Towers are the jewel of the collection. This project is amongst the largest and most well-designed undertakings in Business Bay with excellent facilities. The trust posed on us, by our customers has motivated us to constantly deliver our commitments of ensuring transparency, quality and timely deliveries. "
The project features a residential block (Bristol Residency) and a commercial block (Bristol Executive). Comprising 29 storeys, the towers feature a refreshingly beautiful exterior that resembles an open book. The project spreads across an area of 623,680 square feet of space, and offers ample parking space with more than 1300 parking units.
Bristol Residency comprises studio, single, double and triple bedroom apartments, with well-designed office space, along with a host of facilities, such as a podium level garden with an outdoor sitting area, state-of-the-art IT facilities and security systems.
Deyaar is a leading developer in Business Bay, with most of its projects almost sold out, which includes, Metropolis, The Citadel, 51@Business Bay, Burlington, Fairview Residency, Oxford Tower and such others. Most of the developments of the company are much in demand on the secondary market as well, drawing customers from UAE and overseas.
The Bristol Residency and Bristol Executive clients get to avail themselves of many finance schemes from leading banks such as First Gulf Bank, Tamweel, National Bank of Dubai, Dubai Islamic Bank and Abu Dhabi Commercial Bank.
Labels: Apartments, Business Bay, Business Tower, Deyaar, Real Estate Projects
Swift progress of construction work at Sobha Ivory I and II
Thursday, December 27, 2007
Sobha Group, the well-known Indian-based realty developer, is making swift progress with its first two commercial projects, recently launched in Dubai.
The construction work is progressing in full swing at the Sobha Ivory I and Sobha Ivory II towers at Business Bay, as the Indian realty giant continues to leave its impression in the Middle East market.
The construction work is progressing in full swing at the Sobha Ivory I and Sobha Ivory II towers at Business Bay, as the Indian realty giant continues to leave its impression in the Middle East market.
The sales of Sobha Ivory I and Ivory II real estate projects were complete within 8 months, which indicates the growing popularity of Sobha with investors and end-users. The iconic and modern business towers offer commercial and retail space that has been sold on a freehold basis.
The Vice Chairman of the Group, Ajay Rajendran, said that Sobha Ivory I and II have marked the entry of the group into Dubai, as a property developer, and that they are thrilled by the phenomenal success of the projects, which were sold in record time.
The Vice Chairman of the Group, Ajay Rajendran, said that Sobha Ivory I and II have marked the entry of the group into Dubai, as a property developer, and that they are thrilled by the phenomenal success of the projects, which were sold in record time.
Labels: Business Bay, Business Tower, Freehold Property
ACI real estate launched Niki Lauda Twin Towers in Business Bay
Tuesday, December 04, 2007
Leading providers of investment solutions in Germany, ACI (Alternative Capital Invest) Real Estate, has officially launched the Niki Lauda Twin Towers in Dubai. The launch was alongside the 36th anniversary of UAE's formation, where ACI participated in the National Day celebrations. The legendary Formula 1 World Champion racer, Niki Lauda, was also present during the launch ceremony.
The launch of Niki Lauda Twin Towers in Dubai, is the first among the series of celebrity-branded real estate developments to be launched by ACI Real Estate. Two other properties endorsed by Boris Becker and Michael Schumacher are expected to be launched in the next couple of weeks.
The ACI Real Estate Managing Director, Robin Lohmann, said that "We at ACI believe in doing things in a different manner, as being innovative adds significant value to our offerings. By adding a celebrity brand, which matches our standards of excellence, we make sure that apart from delivering just a great product to our customers, we also create an iconic landmark which is instantly recognizable."
Positioned in Business Bay, the Twin Towers with 29 and 26 storey each, and another four floors at basement parking, are due for completion by 2010. The towers, which houses only offices, are the only office development in Dubai that provides leisure amenities such as outdoor swimming pools, gymnasium and prayer rooms.
The launch of Niki Lauda Twin Towers in Dubai, is the first among the series of celebrity-branded real estate developments to be launched by ACI Real Estate. Two other properties endorsed by Boris Becker and Michael Schumacher are expected to be launched in the next couple of weeks.The ACI Real Estate Managing Director, Robin Lohmann, said that "We at ACI believe in doing things in a different manner, as being innovative adds significant value to our offerings. By adding a celebrity brand, which matches our standards of excellence, we make sure that apart from delivering just a great product to our customers, we also create an iconic landmark which is instantly recognizable."
Positioned in Business Bay, the Twin Towers with 29 and 26 storey each, and another four floors at basement parking, are due for completion by 2010. The towers, which houses only offices, are the only office development in Dubai that provides leisure amenities such as outdoor swimming pools, gymnasium and prayer rooms.
Labels: Business Bay, Business Tower, New Developments, Office Space
TAMANI Art Offices undergoes public launch at Artisan Cluster, Business Bay
Thursday, November 08, 2007
The latest luxury realty development by KM Properties, the real estate development arm of KM Holdings, the TAMANI Art Offices, underwent public launch at the Artisan Cluster in Business Bay, Dubai.
TAMANI Arts Offices is an iconic mixed-use realty development complex, comprising a 20 storey tower. About 32 percent of the project was already sold to investors during its pre-launch at the Cityscape, Dubai.
The twenty storey glass and steel tower with latest cutting-edge technology will make a flawless business platform and grow to be the business epicenter of the prestigious Business Bay development in Dubai. Strategically located in the Artisan Cluster in Business Bay, the TAMANI Arts Offices will offer convenient and easy access to the most notable recreational and landmark destinations, including Dubai Mall, Old Town, Burj Dubai, and the Sheikh Zayed Road.
Spreading across two million square feet in area, the development comprises clusters of iconic towers which include residential buildings, commercial towers and hotels, designed by renowned design engineers and architects of Terry Farrel and Partners, the renowned designers behind the Greenwich Peninsula in London.
TAMANI Arts Offices will provide the best boutique offices, a grand reception and lobby lounge, spacious retail outlets, on-site art museums, hi-tech business offices and IT services, including IT infrastructure security and hi-speed internet access. The TAMANI owners and tenants will also be benefited by the exclusive facility management services, which include 24-hour concierge and valet, efficient housekeeping, on-call maintenance, and engineering services, access to meeting rooms and business centers, and banqueting and catering services on request.
KM Properties has come forward with Escrow facilities by joining hands with National Bank of Dubai, and has also entered into agreements with Amlak Financing, which will offer mortgages for about 85% of the purchase price.
TAMANI Arts Offices is an iconic mixed-use realty development complex, comprising a 20 storey tower. About 32 percent of the project was already sold to investors during its pre-launch at the Cityscape, Dubai.
The twenty storey glass and steel tower with latest cutting-edge technology will make a flawless business platform and grow to be the business epicenter of the prestigious Business Bay development in Dubai. Strategically located in the Artisan Cluster in Business Bay, the TAMANI Arts Offices will offer convenient and easy access to the most notable recreational and landmark destinations, including Dubai Mall, Old Town, Burj Dubai, and the Sheikh Zayed Road.
Spreading across two million square feet in area, the development comprises clusters of iconic towers which include residential buildings, commercial towers and hotels, designed by renowned design engineers and architects of Terry Farrel and Partners, the renowned designers behind the Greenwich Peninsula in London.
TAMANI Arts Offices will provide the best boutique offices, a grand reception and lobby lounge, spacious retail outlets, on-site art museums, hi-tech business offices and IT services, including IT infrastructure security and hi-speed internet access. The TAMANI owners and tenants will also be benefited by the exclusive facility management services, which include 24-hour concierge and valet, efficient housekeeping, on-call maintenance, and engineering services, access to meeting rooms and business centers, and banqueting and catering services on request.
KM Properties has come forward with Escrow facilities by joining hands with National Bank of Dubai, and has also entered into agreements with Amlak Financing, which will offer mortgages for about 85% of the purchase price.
Labels: Business Bay, Office Space, Real Estate News
Dubai Government awards land worth Dh.280m to Dubai Financial Market
Friday, November 02, 2007
The Dubai Government has awarded a land grant, measuring 390,000 square feet, worth Dh.280 million to the Dubai Financial Market (DFM). Based on the directives by the Dubai Government, Dubai Properties, a leading real estate developer in Dubai, will set aside a land plot in their Business Bay project exclusively to DFM.
The land plot, covering 390,000 square feet in area, overlooks the waterfront in Business Bay, from three angles. The DFM plans to use the plot for construction of its main building, housing the future head quarters of DFM.
Spreading over an area of 43,500 square meters, the new headquarters will upgrade and replace the current DFM facilities. The DFM development in Business Bay will comprise a three storey tower, including a main trading floor with 120 broker offices, when compared to the existing 58 offices. The new facilities will also include press rooms, VIP areas, meeting and conference rooms, cafes and restaurants.
The Chairman for Dubai Financial Market, Essa Kazim, expressing his appreciation to H.H. Sheikh Mohammed bin Rashid Al Maktoum, said that this generous grant by the Dubai Government confirms the leading initiatives taken by him, which has always resulted in high achievements and prosperity to the residents and nationals of the UAE, and particularly to the shareholders in DFM.
The land plot, covering 390,000 square feet in area, overlooks the waterfront in Business Bay, from three angles. The DFM plans to use the plot for construction of its main building, housing the future head quarters of DFM.
Spreading over an area of 43,500 square meters, the new headquarters will upgrade and replace the current DFM facilities. The DFM development in Business Bay will comprise a three storey tower, including a main trading floor with 120 broker offices, when compared to the existing 58 offices. The new facilities will also include press rooms, VIP areas, meeting and conference rooms, cafes and restaurants.
The Chairman for Dubai Financial Market, Essa Kazim, expressing his appreciation to H.H. Sheikh Mohammed bin Rashid Al Maktoum, said that this generous grant by the Dubai Government confirms the leading initiatives taken by him, which has always resulted in high achievements and prosperity to the residents and nationals of the UAE, and particularly to the shareholders in DFM.
Labels: Business Bay, Dubai Real Estate, Latest News
Omniyat Properties commences ground-breaking work on 'The Opus' project
Thursday, October 25, 2007
Omniyat Properties, the developer of exclusive real estate projects in Dubai, has begun the ground-breaking work on their commercial development, 'The Opus' situated in the heart of Business Bay. More than 60% of the project has already been sold out.
Designed by the Pritzker Prize winning architect, Zaha Hadid, 'The Opus' is worth more than Dh.1.7billion, and has been set to adorn the Dubai skyline with artistic and iconic architecture. The project, spreading over 85,000 square meters, was unveiled by the CEO of Dubai Properties, Mohammed Binbrek.
Being a perfect blend of art and technology, 'The Opus' forms a structure resembling cube with a fluid for "void" in the middle. The Opus will comprise of three individual towers, that are fused together to create the illusion of a single structure.
Located on an island plot in Business Bay, Dubai, The Opus, depicts a waterfront location, offering the most exclusive office real estate in Dubai, The eye-catching views of Burj Dubai, will further enhance the value of the development.
'The Opus' is expected to be completed during early 2010.
Designed by the Pritzker Prize winning architect, Zaha Hadid, 'The Opus' is worth more than Dh.1.7billion, and has been set to adorn the Dubai skyline with artistic and iconic architecture. The project, spreading over 85,000 square meters, was unveiled by the CEO of Dubai Properties, Mohammed Binbrek.Being a perfect blend of art and technology, 'The Opus' forms a structure resembling cube with a fluid for "void" in the middle. The Opus will comprise of three individual towers, that are fused together to create the illusion of a single structure.
Located on an island plot in Business Bay, Dubai, The Opus, depicts a waterfront location, offering the most exclusive office real estate in Dubai, The eye-catching views of Burj Dubai, will further enhance the value of the development.
'The Opus' is expected to be completed during early 2010.
Labels: Business Bay, Commercial Property, Construction Projects, Office Space, Omniyat
Dubai properties unveils Dh.4billion Bay Square at Business Bay
Sunday, October 21, 2007
The most recent development of Dubai Properties, the Bay Square, worth Dh.4billion, has been unveiled at Business Bay in Dubai.
The development that stretches over five million square feet in area is considered a new-age community project, targeting residents, retailers and businessmen who wish to lead a stress-free lifestyle within a corporate environment.
A boutique hotel with a 'downtown setting' and a residential tower, will be the center of attraction of the thirteen building development. Remaining eleven buildings will comprise mixed-use projects that feature commercial and retail space, terraced apartments and two storeys of rooftop apartments.
The Chief Executive Officer of Dubai Properties, Mohammad Bin Braik, said that Bay Square will be a prestigious business landmark for companies, offering business professionals and visitors an unmatched experience about modern Dubai. He revealed that about 60 percent of the project has been exclusively earmarked for commercial investors alone.
Dubai Properties has also placed before its investors, an opportunity for purchasing five to ten floors, covering nearly one million square feet of commercial space, which ranges from 1500 to 17000 square feet.
The Bay Square forms the core of Business Bay. The height of the building and the Bay Square towers will range from 10 to 14 floors featuring studios, single-bedroom and loft-style apartments that overlook the Square and the rest of Business Bay. Apart from being a pedestrian-only zone, the Bay Square will comprise retail outlets, a central plaza, restaurants, hosting cafes, and state-of-the-art gym.
Bay Square is scheduled for completion by 2009.
The development that stretches over five million square feet in area is considered a new-age community project, targeting residents, retailers and businessmen who wish to lead a stress-free lifestyle within a corporate environment.
A boutique hotel with a 'downtown setting' and a residential tower, will be the center of attraction of the thirteen building development. Remaining eleven buildings will comprise mixed-use projects that feature commercial and retail space, terraced apartments and two storeys of rooftop apartments.
The Chief Executive Officer of Dubai Properties, Mohammad Bin Braik, said that Bay Square will be a prestigious business landmark for companies, offering business professionals and visitors an unmatched experience about modern Dubai. He revealed that about 60 percent of the project has been exclusively earmarked for commercial investors alone.
Dubai Properties has also placed before its investors, an opportunity for purchasing five to ten floors, covering nearly one million square feet of commercial space, which ranges from 1500 to 17000 square feet.
The Bay Square forms the core of Business Bay. The height of the building and the Bay Square towers will range from 10 to 14 floors featuring studios, single-bedroom and loft-style apartments that overlook the Square and the rest of Business Bay. Apart from being a pedestrian-only zone, the Bay Square will comprise retail outlets, a central plaza, restaurants, hosting cafes, and state-of-the-art gym.
Bay Square is scheduled for completion by 2009.
Labels: Business Bay, Business Tower, New Developments, Office Space
KM Properties to launch Dh.1.3bn Tamani Arts Offices in Business Bay
Friday, October 19, 2007
The real-estate development branch of Dubai-based KM Holding, KM Properties, has unveiled a Dh.1.3billion tower at Dubai's Business Bay, the prime commercial district in the emirate.
The tower named 'Tamani Arts Offices', will include a twenty storey glass and steel building in the Artisan cluster of Business Bay.
The Chairman and CEO of KM Holding, Mohammad Haddad, is quoted as having said that the Tamani Arts Offices will be the most significant address for business in New Dubai.
The Artisan Cluster that covers a built-up area of two million square feet comprises numerous commercial, residential and hotel towers.
Another development of KM Properties is the Tamani Arts hotel, which is located adjacent to Tamani Arts Offices.
KM Holding is the owner of numerous properties in the UAE, and is planning to enter the Indian and Saudi Arabian markets, scheduling a six-year growth plan.
The tower named 'Tamani Arts Offices', will include a twenty storey glass and steel building in the Artisan cluster of Business Bay.
The Chairman and CEO of KM Holding, Mohammad Haddad, is quoted as having said that the Tamani Arts Offices will be the most significant address for business in New Dubai.
The Artisan Cluster that covers a built-up area of two million square feet comprises numerous commercial, residential and hotel towers.
Another development of KM Properties is the Tamani Arts hotel, which is located adjacent to Tamani Arts Offices.
KM Holding is the owner of numerous properties in the UAE, and is planning to enter the Indian and Saudi Arabian markets, scheduling a six-year growth plan.
Labels: Business Bay, Business Tower, New Developments, Office Space
Omniyat Properties begins construction work on 'The Binary' freehold commercial tower
Saturday, September 29, 2007
Omniyat Properties, the real estate arm of Omniyat Holdings, has announced the first phase of construction work on 'The Binary'. The main construction work for the freehold commercial project, worth Dh.550 million, has been awarded to Dutco Balfour Beatty Group. The enabling works, which began in March 2007, is almost complete, with 5% of overall development work now being completed.
The President and CEO of Omniyat Properties, Mehdi Amjad says "The project is a significant development and working together with the finest names in construction industry is a guarantee to deliver the most technologically advanced and futuristic developments to customers in the region. We wish to develop an office tower that help make its inhabitant more creative, efficient, and more productive."
The Binary real estate project comprises of two 21 and 25 storey freehold commercial towers, fused at the center, which is likely to come up on plot number 50 in Business Bay District in Dubai. The towers offer commercial space ranging from 55 to 180 square meters. The state-of-the art project will be elevated over a four level podium and will contain retail and commercial shops. 'The Binary' will be infused with intelligent technology, such as radio frequency identification, biometric access and voice over internet telephony.
The President and CEO of Omniyat Properties, Mehdi Amjad says "The project is a significant development and working together with the finest names in construction industry is a guarantee to deliver the most technologically advanced and futuristic developments to customers in the region. We wish to develop an office tower that help make its inhabitant more creative, efficient, and more productive."The Binary real estate project comprises of two 21 and 25 storey freehold commercial towers, fused at the center, which is likely to come up on plot number 50 in Business Bay District in Dubai. The towers offer commercial space ranging from 55 to 180 square meters. The state-of-the art project will be elevated over a four level podium and will contain retail and commercial shops. 'The Binary' will be infused with intelligent technology, such as radio frequency identification, biometric access and voice over internet telephony.
Labels: Business Bay, Business Tower, Construction Projects, Freehold Property, Omniyat, Real Estate Company
Omniyat Properties appointed CSCEC as main contractor for Bayswater project
Tuesday, September 11, 2007
Omniyat Properties, the real estate branch of the UAE-based 'Omniyat Holdings', has awarded its AED345 million (US$92million) 'Bayswater' project, a 25 storey commercial tower, to China State Construction Engineering Corporation (CSCEC), appointing them as the main contractor for the project.
The project, which is expected to come up on a prime waterfront location in Business Bay district, Dubai, has now stepped into its second phase, after the enabling works were completed by Al Dhafra Piling Contracting Company (APCC). At present, about 25 percent of the main construction and 33 percent of the overall development have already been completed.
Omniyat Properties have agreed that the work is progressing as scheduled, and the work is likely to be completed by the third quarter of 2008.
CSCED is the most successful and one of the largest international contractors in the world, bringing with it the rich experience of working in landmark properties across the glove, and have received numerous awards for timely delivery of projects, and for meeting quality standards.
The contract has been handed-over just after the confirmation from the developer that the first phase of construction work on this freehold commercial tower has been completed.
The Managing Director, CSCEC, Yu Tao, expressing the company's excitement to be involved in the unique and innovative project, said that they are proud to be associated with a developer such as Omniyat Properties, who has been developing the most technologically advanced properties.
The tower, designed by Dubarch, the leading Dubai-based architects, is unique in its shape and is an optical illusion which looks like two slim towers side by side to the viewer, taking the shape of the letter X.
The tower projects hi-tech features such as multiple access points, high ratios of parking to office space, 825 bays spread over the four podium floors and two basement. The building comprises two penthouse office floors, a podium with terrace, and a few waterfront loft-style offices.
The project, which is expected to come up on a prime waterfront location in Business Bay district, Dubai, has now stepped into its second phase, after the enabling works were completed by Al Dhafra Piling Contracting Company (APCC). At present, about 25 percent of the main construction and 33 percent of the overall development have already been completed.
Omniyat Properties have agreed that the work is progressing as scheduled, and the work is likely to be completed by the third quarter of 2008.
CSCED is the most successful and one of the largest international contractors in the world, bringing with it the rich experience of working in landmark properties across the glove, and have received numerous awards for timely delivery of projects, and for meeting quality standards.
The contract has been handed-over just after the confirmation from the developer that the first phase of construction work on this freehold commercial tower has been completed.
The Managing Director, CSCEC, Yu Tao, expressing the company's excitement to be involved in the unique and innovative project, said that they are proud to be associated with a developer such as Omniyat Properties, who has been developing the most technologically advanced properties.
The tower, designed by Dubarch, the leading Dubai-based architects, is unique in its shape and is an optical illusion which looks like two slim towers side by side to the viewer, taking the shape of the letter X.
The tower is targeted to medium-sized companies looking for Grade-A office space.
The tower projects hi-tech features such as multiple access points, high ratios of parking to office space, 825 bays spread over the four podium floors and two basement. The building comprises two penthouse office floors, a podium with terrace, and a few waterfront loft-style offices.
Labels: Business Bay, Business Tower, Commercial Property, New Contracts, Office Space, Omniyat
AAKAR to deliver CBC Tower worth Dh.200 million, as scheduled
Sunday, September 09, 2007
AAKAR Developers Limited, a prominent property developer based in Canada, has revealed the completion of works on its Canada Business Center (CBC) Tower, worth Dh.200 million in Business Bay. The shoring and piling works of the tower has been completed and the commercial tower located in the heart of Business Bay, Dubai has been scheduled for delivery in December 2008.
The completion of works including the guide wall, the contiguous pile wall, the temporary shoring, capping beam, anchors, excavation and dewatering works have been completed by the IFG team due to the state-of-the-art equipment in use at site.
The CBC Tower development offers its occupants the required space for work and lifestyle, comprising, nineteen storeys of offices and about 7,500 square feet of retail space, apart from fitness amenities such as gymnasium, rooftop pool, steam room, Jacuzzi, food courts, shopping space, and six-level parking facilities. The Tower also includes modern hi-tech business amenities and conference rooms. The tower is centrally located in Business Bay, next to Burj Dubai, offering unobstructed views to all its offices.
The CEO & President of AAKAR, Yadvinder Singh, mentioned that AAKAR was among the first developers to buy into the Business Bay concept with the launch of their Canada Business Center during 2006. Expressing his complete satisfaction with the progress and construction of Business Bay, he mentioned that the company coul visualize that they are moving closer to their dream of delivering the commercial tower, which will be unique in most aspects.
Moreover, through the partnership of industry leaders such as IFG & Cansult, the project will be completed and delivered on schedule, he said.
The completion of works including the guide wall, the contiguous pile wall, the temporary shoring, capping beam, anchors, excavation and dewatering works have been completed by the IFG team due to the state-of-the-art equipment in use at site.The CBC Tower development offers its occupants the required space for work and lifestyle, comprising, nineteen storeys of offices and about 7,500 square feet of retail space, apart from fitness amenities such as gymnasium, rooftop pool, steam room, Jacuzzi, food courts, shopping space, and six-level parking facilities. The Tower also includes modern hi-tech business amenities and conference rooms. The tower is centrally located in Business Bay, next to Burj Dubai, offering unobstructed views to all its offices.
The CEO & President of AAKAR, Yadvinder Singh, mentioned that AAKAR was among the first developers to buy into the Business Bay concept with the launch of their Canada Business Center during 2006. Expressing his complete satisfaction with the progress and construction of Business Bay, he mentioned that the company coul visualize that they are moving closer to their dream of delivering the commercial tower, which will be unique in most aspects.
Moreover, through the partnership of industry leaders such as IFG & Cansult, the project will be completed and delivered on schedule, he said.
Labels: Business Bay, Business Tower, Commercial Property
Vision Tower to be unveiled in 2009
Saturday, September 08, 2007
According to Dubai Properties, the Dh.1.2 billion 'Vision Tower' will bring about 500,000 square feet of commercial space when it opens for business during the year 2009.
The construction at the moment is progressing as scheduled with more than 25 percent of the project complete.
Dubai Properties has provided its investors and corporate users with an exclusive opportunity for purchase of the first 38 floors of the 52 storey glass tower at Business Bay.
The Vision Tower will be situated at the entrance of the Business Bay master development, offering eye-catching waterfront views on the Shaikh Zayed Road and the Dubai Creek.
Apart from four floors that offer room for two office units each, the remaining floors are best suited for an integrated office. The average floor size of each unit of the 51 units for sale is 10,575 sq.ft., with the top two floors interconnected as a single unit.
The CEO of Dubai Properties, Mohammad Binbrek, describing Dubai Properties as an innovative master developer that provides financially secure and feasible investments with highest yields on investments, mentioned that, through the launch of Vision Tower, Dubai Properties intends to cement the position of Business Bay, as the prime choice for local, regional and international businesses.
Acting as the gateway to Business Bay, Vision Tower is the only commercial tower developed by Dubai Properties. The hi-tech transparent glazing of the tower with bent glass façade will be internally lit to create a luminous feel at night-time.
Vision Tower is connected to the Executive Towers through a pedestrian bridge, and thereby links the offices to the Bay Avenue, and the hotel and residential towers.
The construction at the moment is progressing as scheduled with more than 25 percent of the project complete.Dubai Properties has provided its investors and corporate users with an exclusive opportunity for purchase of the first 38 floors of the 52 storey glass tower at Business Bay.
The Vision Tower will be situated at the entrance of the Business Bay master development, offering eye-catching waterfront views on the Shaikh Zayed Road and the Dubai Creek.
Apart from four floors that offer room for two office units each, the remaining floors are best suited for an integrated office. The average floor size of each unit of the 51 units for sale is 10,575 sq.ft., with the top two floors interconnected as a single unit.
The CEO of Dubai Properties, Mohammad Binbrek, describing Dubai Properties as an innovative master developer that provides financially secure and feasible investments with highest yields on investments, mentioned that, through the launch of Vision Tower, Dubai Properties intends to cement the position of Business Bay, as the prime choice for local, regional and international businesses.
Acting as the gateway to Business Bay, Vision Tower is the only commercial tower developed by Dubai Properties. The hi-tech transparent glazing of the tower with bent glass façade will be internally lit to create a luminous feel at night-time.
Vision Tower is connected to the Executive Towers through a pedestrian bridge, and thereby links the offices to the Bay Avenue, and the hotel and residential towers.
Labels: Business Bay, Business Tower, Commercial Property
Tameer's Silver Tower sales meets complete success
Tuesday, September 04, 2007
Tameel Holding has announced that all the units in its "Silver Tower" development have been successfully sold within fifteen days of its launch.
This achievement brings to Tameer, the credit of being the first in Business Bay, Dubai, to announce 100 percent sales of its units, among the other 500 commercial and residential towers in Business Bay.
The success has been attributed to the strategic approach by Tameer, and its focus on developing integrated projects with an aim to cater to major companies and businessmen, apart from residents belonging to all social segments.
Tameer considers this success as another valuable addition to its unique line of successive achievements in the local and regional property market, and as an indicator to prove the depth of customer confidence that Tameer has established in the property market.
The launch of 260 offices Sliver Tower was coincident with the growing demand for commercial and residential units in Dubai property market. The launch came at an apt time, when Dubai was witnessing a continuous surge in population, which had doubled during the past ten years, and when the demand was exceeding supply, coupled with economic growth. Experts predict that the population in Dubai will touch 2 million towards the year 2015.
The Silver Tower, worth Dh.450 million, will include 260 offices of various sizes, with 27 buildings and 31 floors that meets the best in design, quality of construction and finishing. The total area of the tower is expected to be 700,000 square feet, and the final height of the tower is expected to touch 147.5 meters by 2009. The tower will comprise modern amenities such as a sophisticated conference hall, health club, swimming pools, mini golf course, car parking spaces for 793 cards, commercial and retail outlets and cafeteria and more.
The strategic location of the tower makes it easily accessible to all parts of Dubai, and to prominent locations such as Burj Dubai downtown, Sheikh Zyed Road to Jebel Ali Free Zone, Dubai Media City, Dubai International Financial Center, and Dubai Internet City.
Tameer had entered into a partnership with Al-Rajhi Investment Group two years ago, and today, ameer has a real estate investment portfolio exceeding AED 150 billion. Currently, Tameer is developing "AlSalam City" in Umm Al Quwain, and the "Al Ameera Village" in Ajman and the "Princess Tower" which the tallest residential tower in the world, located at Dubai Marina.
This achievement brings to Tameer, the credit of being the first in Business Bay, Dubai, to announce 100 percent sales of its units, among the other 500 commercial and residential towers in Business Bay.
The success has been attributed to the strategic approach by Tameer, and its focus on developing integrated projects with an aim to cater to major companies and businessmen, apart from residents belonging to all social segments.
Tameer considers this success as another valuable addition to its unique line of successive achievements in the local and regional property market, and as an indicator to prove the depth of customer confidence that Tameer has established in the property market.The launch of 260 offices Sliver Tower was coincident with the growing demand for commercial and residential units in Dubai property market. The launch came at an apt time, when Dubai was witnessing a continuous surge in population, which had doubled during the past ten years, and when the demand was exceeding supply, coupled with economic growth. Experts predict that the population in Dubai will touch 2 million towards the year 2015.
The Silver Tower, worth Dh.450 million, will include 260 offices of various sizes, with 27 buildings and 31 floors that meets the best in design, quality of construction and finishing. The total area of the tower is expected to be 700,000 square feet, and the final height of the tower is expected to touch 147.5 meters by 2009. The tower will comprise modern amenities such as a sophisticated conference hall, health club, swimming pools, mini golf course, car parking spaces for 793 cards, commercial and retail outlets and cafeteria and more.
The strategic location of the tower makes it easily accessible to all parts of Dubai, and to prominent locations such as Burj Dubai downtown, Sheikh Zyed Road to Jebel Ali Free Zone, Dubai Media City, Dubai International Financial Center, and Dubai Internet City.
Tameer had entered into a partnership with Al-Rajhi Investment Group two years ago, and today, ameer has a real estate investment portfolio exceeding AED 150 billion. Currently, Tameer is developing "AlSalam City" in Umm Al Quwain, and the "Al Ameera Village" in Ajman and the "Princess Tower" which the tallest residential tower in the world, located at Dubai Marina.
Labels: Business Bay, Business Tower, New Developments, Sales
Groundbreaking ceremony held in Business Bay for The Pad tower
Wednesday, August 29, 2007
Omniyat Properties, the real estate development branch of Omniyat Holdings recently held a groundbreaking ceremony of their prestigious Dh.550 million hi-tech tower, The Pad, in Business Bay.
Designed by James Law Cybertecture International, The Pad, will set an example for the rest of the world, with its unique, sophisticated residential buildings, due for completion by 2009.
This totally integrated residential complex is essentially a mix of advanced technology and perfection in design and architecture that personifies 21st century living in everyway. Through its innovative use of technology and design The Pad will offer its inhabitants a unique lifestyle experience not found anywhere else.
The President and CEO of Omniyat Properties, Mehdi Amjad, said "This marks the beginning of a new era, which will see us push boundaries of futuristic lifestyles. The Pad will set new standards of design in the Middle East and beyond. The project has already drawn huge media attention all over the world, particular the markets which are mesmerized by scope of developments in Dubai. This residential complex personifies the 21st century lifestyle in every way."
'The pad' is expected to comprise 231 apartments ranging from studios, one and two bedroom units, and a range of loft homes. The apartments will have various interesting features, including an inspirational clubhouse, which is meant exclusively for its residents. The exclusive club-house will comprise state-of-the-art gym, basketball court, running track, swimming pool with underwater audio system and more. The club will also offer its residents with a big meeting lounge, games room, party room, outdoor sunset terrace and library.
Designed by James Law Cybertecture International, The Pad, will set an example for the rest of the world, with its unique, sophisticated residential buildings, due for completion by 2009.
This totally integrated residential complex is essentially a mix of advanced technology and perfection in design and architecture that personifies 21st century living in everyway. Through its innovative use of technology and design The Pad will offer its inhabitants a unique lifestyle experience not found anywhere else.The President and CEO of Omniyat Properties, Mehdi Amjad, said "This marks the beginning of a new era, which will see us push boundaries of futuristic lifestyles. The Pad will set new standards of design in the Middle East and beyond. The project has already drawn huge media attention all over the world, particular the markets which are mesmerized by scope of developments in Dubai. This residential complex personifies the 21st century lifestyle in every way."
'The pad' is expected to comprise 231 apartments ranging from studios, one and two bedroom units, and a range of loft homes. The apartments will have various interesting features, including an inspirational clubhouse, which is meant exclusively for its residents. The exclusive club-house will comprise state-of-the-art gym, basketball court, running track, swimming pool with underwater audio system and more. The club will also offer its residents with a big meeting lounge, games room, party room, outdoor sunset terrace and library.
Labels: Business Bay, Latest News, Luxury Homes, Omniyat, Residential
Al Madar's Scala Towers proves successful
Al Madar Property Investments, the real estate branch of Al Madar Group, announced that its 22 storeyed 'Scala Tower' in business bay has been more than 80 percent sold out.
The tower comprises of eighteen storey of residential units with studios, single and double bedroom apartments. It has world-class features such as a hi-tech health club, high-speed internet connectivity, cafeterias, shopping area, recreation area, closed-circuit television, high-speed elevators, 24 hours security and maintenance, car parking and more. The tower will be ready for delivery by 2009.
The Sales and Marketing Director of Al Madar Group, Keith Pepperdine, expressing his happiness over the success of Scala Tower, mentioned that the ideal location of the tower in Business Bay with eye-catching view of the Burj Dubai, coupled with modern amenities offered by the tower has been the major factors for the success of Scala Towers.
After a series of hig-profile realty projects in the UAE and Dubai, Al MAdar is now looking forward to regional expansion. The company has a rich portfolio of being involved in the property sector for more than fifteen years and has already completed 125 developments throughout the Middle East.
The tower comprises of eighteen storey of residential units with studios, single and double bedroom apartments. It has world-class features such as a hi-tech health club, high-speed internet connectivity, cafeterias, shopping area, recreation area, closed-circuit television, high-speed elevators, 24 hours security and maintenance, car parking and more. The tower will be ready for delivery by 2009.The Sales and Marketing Director of Al Madar Group, Keith Pepperdine, expressing his happiness over the success of Scala Tower, mentioned that the ideal location of the tower in Business Bay with eye-catching view of the Burj Dubai, coupled with modern amenities offered by the tower has been the major factors for the success of Scala Towers.
After a series of hig-profile realty projects in the UAE and Dubai, Al MAdar is now looking forward to regional expansion. The company has a rich portfolio of being involved in the property sector for more than fifteen years and has already completed 125 developments throughout the Middle East.
Labels: Apartments, Business Bay, Luxury Homes, New Developments, Residential, Sales
DIP awards office tower project worth Dh.200 million to DCC
Sunday, August 26, 2007
The construction contract of Dubai Investment Properties (DIP) LLC Office Tower in Business Bay district of Dubai has been awarded to Dubai Contracting Company (DCC), a major international construction company in Dubai.
The project involves development of a luxurious forty five storey commercial tower, with a separate fourteen storey car park and two basements on Sheikh Zayed Road.
The Investment and Marketing Manager of DCC, Wissam Otaky, said "The DIP tower is a great addition to our projects portfolio, and provides office space solutions with premium quality finishing."
The commercial project will spread over an area of 70,172 square meters, and will comprise of the latest and state-of-the-art technologies, meant for business purposes with supreme functionality, without any kind of compromise on elegance and aesthetics.
DCC, along with Arkiteknik International Consulting Engineers, who are also the architects behind projects such as the Twin Towers Deira, Flora Creek, and the Grand Hyatt Dubai, will together carry the project forward. The tower is in preliminary stages of construction and is due to be completed by 2009.
The project involves development of a luxurious forty five storey commercial tower, with a separate fourteen storey car park and two basements on Sheikh Zayed Road.
The Investment and Marketing Manager of DCC, Wissam Otaky, said "The DIP tower is a great addition to our projects portfolio, and provides office space solutions with premium quality finishing."
The commercial project will spread over an area of 70,172 square meters, and will comprise of the latest and state-of-the-art technologies, meant for business purposes with supreme functionality, without any kind of compromise on elegance and aesthetics.
DCC, along with Arkiteknik International Consulting Engineers, who are also the architects behind projects such as the Twin Towers Deira, Flora Creek, and the Grand Hyatt Dubai, will together carry the project forward. The tower is in preliminary stages of construction and is due to be completed by 2009.
Labels: Business Bay, Construction Projects, New Contracts