Rakeen announces sales launch of Bab Al Bahr Office Tower
July 31, 2008 by UAERush · Leave a Comment
Rakeen, the master-planner and land developer of the Ras Al Khaimah Government that exercises environmental responsibility when planning and developing, has announced the sales launch of the Bab Al Bahr Office Tower, one of the centrepiece projects within Ras Al Khaimah’s AED 1.2 billion mixed-use resort development Bab Al Bahr.
Bab Al Bahr Office Tower is the only office and commercial building that is located between the entrance of Ras Al Khaimah until downtown Ras Al Khaimah City. The Bab Al Bahr Office Tower, which has 108 offices for sale, is located in a free zone area and is open to all local and international investors.
Rakeen has recently stepped up its marketing and sales initiatives for the Bab Al Bahr Tower following the recent commencement of construction, which has since been progressing at a healthy pace. Construction work on the tower is now in the piling stages even as the rest of the components of the Bab Al Bahr development have likewise progressed on schedule.
“We expect the initial sales results for the Bab Al Bahr Office Tower to exceed our expectations, as the resort development has been conceptualised to provide world-class amenities that cater to the business, leisure, recreational and personal needs of our clients. It is a fully integrated community that will rival any development of its kind in the region,” said Wahid Attalla, Member of the Board, Rakeen.
Bab Al Bahr Office Tower will be a 20-floor office facility, which is integrated into a three-tiered, 19,000 square meter shopping complex. The shopping complex boasts luxury retail stores, coffee shops, a food court, a family entertainment centre and four screen cinemas. The 18,500 square meter office tower offers a full range of business and office amenities, stunning views of the Gulf and an underground parking for up to 400 cars. Moreover, the office facility provides free zone trade licenses and easy access to a fully integrated development complex, which includes residential apartments and a 320-room resort hotel.
Bab Al Bahr is the inaugural development project on Al Marjan Island: Rakeen’s man-made coral shaped atoll that extends four kilometres into the Arabian Gulf. The island-inspired, fully integrated community offers occupants and visitors stunning 360-degree sea views and extensive landscaping that includes exotic gardens and a 500-meter long stretch of beach.
Ivory Tower-contracts cancelled
July 30, 2008 by UAERush · Leave a Comment
Hundreds of investors in the long-delayed Ivory Tower residential project in Dubai have been told by the developer, Sokook Investment Group, that their contracts will be cancelled and 20 per cent of the sales price kept.
Investors were told the move was made because they were in arrears in instalment payments, despite Sokook allegedly informing them a year ago that no further payment was due until construction began, according to The National.
“Since you were not able to pay within the due date and we did remind you of your payment schedule, please accept our apology that your contract has been cancelled automatically,” Sokook said to investors in a letter.
It added that Sokook would retain 20 per cent of the sales price as a cancellation fee.
Earlier this month, Sokook pledged to the Dubai Real Estate Regulatory Authority (Rera) that construction would begin on Nov 1 after a dispute over a bank guarantee with Tecom – the master developer of the International Media Production Zone, where Ivory Tower is to be located – was resolved.
Rera sent a statement to investors confirming that the issue had been resolved and that construction was likely to begin, albeit three years after the project was launched.
The latest move has provoked more fury among those investors who bought units off-plan.
“Sokook has said that the reason for cancelling our contracts was due to not receiving instalment payments from us on time, even though we were told in writing from Sokook [about a year ago] that our next payment instalment was put on hold until construction began,” an investor from the UK told the newspaper.
In the past week, several investors have allegedly threatened legal action against the Saudi Arabian company.
About 770 investors are believed to have bought property in Ivory Tower, 100 of whom were from the UK.
AED 2bn Mirdiff Hills launched
July 29, 2008 by UAERush · Leave a Comment
Dubai Investments (DI) announced the launch of Mirdiff Hills, a Dh2 billion mixed-use development in Dubai, through its real estate arm Dubai Investments Real Estate Company (DIRC).
The latest in a string of mega projects launched by Dubai Investments, Mirdiff Hills is envisioned as a self-contained community comprising residential apartments, corporate offices and retail outlets.
The project, which will have a total built-up area of 2.7 million square feet, comes equipped with all modern amenities such as swimming pool, clubhouse, playschool, internet facility, coffee shop and children’s play area, and offers 24-hour security.
Khalid Kalban, Managing Director and CEO of Dubai Investments, said,
“DIRC intends to play a leading role in the regional property scene, and with the launch of Mirdiff Hills we take a significant step towards achieving our strategic objectives and consolidating our market presence. With several more prestigious projects in the pipeline, DIRC is set to further expand its portfolio and position itself at the forefront of real estate activity within the UAE.”
In all, Mirdiff Hills will feature 680 well-appointed apartments, 380 offices and 129 retail outlets.
Located in the city’s Mirdiff area, prominent Dubai-based architects Al Shurooq Engineering Consultants designed the project, while construction leader Al Arif Contracting Company has been appointed the lead contractor. Mirdiff Hills is scheduled for completion in early 2010.
Dubai Trade Centre District
July 28, 2008 by UAERush · Leave a Comment
Dubai World Trade Centre (DWTC) announced today the commencement of major construction work on the first phase of the Dubai Trade Centre District, the integrated commercial destination that is coming up at the heart of Dubai’s business district on Sheikh Zayed Road.
The District has also recently received LEED (Leadership in Energy and Environmental Design) Gold standard pre-certification for its commitment to sustainability.
With the initial excavation work now being completed, over 850,000 cubic metres of concrete is being poured into the foundations, in preparation for 2.3 million square feet of commercial office space, and 135,000 square feet of ground floor retail space that will be offered in the first phase of the development.
Piling work on the project is also well underway with 3,000 of the 7,000 piles already in place, as Phase One of this spectacular redevelopment project that will transform the entire area surrounding the Dubai International Convention and Exhibition Centre (DICEC) rapidly takes shape.
Helal Saeed Al Marri, Director General, DWTC, said:
‘The Dubai Trade Centre District is now moving from vision to reality. It is critically important for us as master-developers to build something which will not only have a major impact on business across the Middle East, but will also ensure that sustainability concepts are incorporated into every aspect of construction and development.’
Statistics from the Green Building Council show that existing offices, high rises, towers and facilities are among the worst offenders when it comes to carbon dioxide (CO2) emissions and resource use, accounting for 39% of CO2 emissions and 71% of electricity consumption. However, the new wave of construction and development offers the opportunity to reduce this negative impact on the environment by around 20%.
DWTC’s approach to environmentally-sustainable development is in line with the directive of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to prioritise sustainable development, as outlined in the Dubai Strategic Plan 2015.
The largest commercial development in the UAE built to LEED Gold standards, The District will offer more than 450,000 square metres of car parking, creating 7,000 spaces on four underground levels. The commitment to LEED Gold Standards will help ensure energy-efficient use of resources, reduce waste and promote the highest level occupant comfort and material recycling.
Given, the District’s location, stretching from the Trade Centre Roundabout to Emirates Towers on Dubai’s main commercial artery, Sheikh Zayed Road, the focus on environmentally-sustainable construction will also make an important contribution to quality of life for local residents and workers in the area.
One of the innovations that have been incorporated into the blueprint is the optimum use of natural light, as well as a significant amount of landscaped terraces and green areas. In addition, working in coordination with the Green Building Council, DWTC is deploying carbon neutral technology throughout the construction and occupation process. With the first phase of the District set to receive tenants in 2010, the group is also looking to build sustainability principles into its world-class facilities management programme.
‘Our excellent working relationships with our partners Dubai Municipality, DEWA and the RTA have played a major role in the seamless progression of the project from the drawing board to its current stage of implementation,’ said Al Marri. ‘By building to a LEED Gold Standard, we are also contributing to Dubai’s overall positioning as an environmentally-friendly city.’
The District
The state-of-the-art business quarter will contain two hotels, 200,000 sq. m of grade A1 office accommodation, plus 1,000 apartments and 1,000 serviced apartments with related retail and car parking, offering a vibrant mix of public and private spaces, linked by air-conditioned pedestrian walkways.
The serviced apartments will provide a luxurious lifestyle for residents and visitors, managed by Dubai World Trade Centre, the UAE’s longest-serving residential service provider.
Using the highest standards in design, the buildings will be environmentally sustainable and will be carefully designed to the highest quality. All offices and residences will make the best use of naturally-lit interior spaces alongside landscaped terraces.
Residents and executives living within the district will have access to the World Trade Club, the city’s most prestigious business venue on the top floor of the landmark Dubai World Trade Centre Tower.
Venture Capital Bank awards D51 Island architecture and development to dxb-lab
Venture Capital Bank has granted the architecture and development of D51 Island in The World project by Nakheel to dxb-lab Architecture. Nakheel has approved the preliminary designs.
Mr. Khalid Abdul-Karim, Chief Investment Officer of Real Estate at Venture Capital Bank commented
“Among many architect offices, we found the dxb-lab team to have a unique combination of the creativity required to develop a distinguished design concept, and (ii) the local expertise required to manage the development of this size. We have been working closely with the dxb-lab team in order to develop a design theme that distinguishes D51 Island as a boutique luxury resort among other developments in the region. We are pleased with the progress made to-date. We have obtained Nakheel’s initial approval on our design concept and are now in the process of completing detailed designs”.
“Island D51 may well become the boutique resort in Nakheel’s World Development”, notes Khalid Al Najjar, Partner and Founder of dxb-lab Architecture, “We are known for our avant-garde concepts and a striking design approach; and this project in particular provides us with a novel and exciting architectural context. The architecture envisioned will have a modern, simple and sleek look. It is almost like discovering a new world”
On his side Mr. Shahab Lutfi, partner dxb-lab, commented, “We are proud to have such a challenging and exciting project at hand. D51 is truly set to be the ultimate luxury destination upon completion, and the feedback we have received thus far has been overwhelming. We have submitted our preliminary designs and have already received initial approval from Nakheel. This shows the talent, creativity and dedication of our team.”
D51 Island is located in the northern part of The World, known more commonly as Russia. The island will have unlimited views of the sea and to the east it will have a view of the skyline of Dubai. 100 villas are planned and classified in different categories such as 3 and 4 bedroom Sunset Beach villas, 2 bedroom Canal View villas, one bedroom Lagoon villas, Lagoon Suits, 4 Super Yacht units.
Each unit is uniquely situated on the island. The Lagoon villas and Sunset Beach villas are right on the beach with stunning vistas. Canal View units and Super Yacht villas have their own exclusive yacht dock. And finally, the Lagoon Suits will have 180 degree elevated view of the island facing sunrise and sunset. The island will enjoy two beaches one facing east and the other west. The marina will be spacious enough to fit 25 yachts. The Island will also offer a luxurious spa, two exclusive restaurants, a sunset lounge and a 125 meters swimming pool.
The Queen Elizabeth 2’s new home in Palm Jumeirah
July 27, 2008 by UAERush · Leave a Comment
Nakheel has revealed the new home for the world famous cruise liner, the Queen Elizabeth 2 (QE2), as the anchor of a luxurious marina development on the eastern trunk side of Palm Jumeirah.
Purchased last year by Nakheel’s parent organisation, Dubai World, QE2 will embark on her ultimate journey from Southampton, England to Dubai in November.
Nakheel will commence construction on her eventual home in September; a luxury marina development that will establish a cultural centre and tourist attraction on Palm Jumeirah paying homage to the famous ocean liner.
QE2 will form the pinnacle of a palatial pier that will stretch 300 metres out from the trunk into the waters of the Arabian Gulf.
A grand entrance to the pier will provide the gateway to a luxury residential and hotel quarter, which will feature elegant apartments, a private club, bars and restaurants, retail, wellness centre and gardens.
A high-end yacht club will service a major marina attached to the pier, giving residences on the trunk marina views.
Plans for the QE2 include its transformation into an ultra-luxury floating hotel, featuring public promenades, retail outlets, cafes and restaurants, as well as a heritage museum displaying artifacts from the QE2 and maritime history.
Johann Schumacher, Director of Palm Jumeirah, commented:
“The arrival of QE2 is one of the most anticipated events of the year and Nakheel is proud to be the custodian of such a historic treasure. The world’s most famous ocean liner will form the focal point of an exciting new development that will be a spectacular and must-see attraction on Palm Jumeirah.”
MAG 218 set for completion
July 27, 2008 by UAERush · Leave a Comment
MAG Group announced apartment owners in the MAG 218 Tower in Dubai Marina will be able to view one and two-bedroom residences at least 18 months prior to handover. The MAG 218 residential tower consists of 555 apartments spread over 66 floors and will be completed within schedule in December 2009.
Strategically located within the Dubai Marina community, MAG 218 aims to be a landmark with its pure geometric forms. This has been enhanced by the open concept of clear spaces thanks to the use of modern materials and ‘gravity defying’ engineering/design. It’s steel structure shows gradual transition from the metal cladding on the podium and lower floors to glass glazing on the upper floors, reflecting its modern architectural features.
Feel at home from the minute you step in to the luxurious lobby with welcoming ambience. Its modern open-concept reception area along with futuristic design and colors truly reflect the contemporary lifestyle you would expect from MAG 218. The aluminum tiles and cladding on the ceiling and walls add to its crisp and futuristic style. Equipped with high-speed elevators, long waits especially during the rush hours will become a thing of the past.
Relax on the outdoor deck where the all round glass and natural plants & trees will certainly provide you with peace of mind and serenity. Start the day with an invigorating swim or simply relax in the Jacuzzi. The changing rooms are conveniently located to ensure you are on time for the day’s activities. end your week enjoying the facilities in and around MAG 218, and your extra leisure time, granted by living so close to your work place. If you are the type who likes to be “on the go”, we certainly have something that will keep you running! The state-of-the-art gym is equipped with the latest exercise equipment ranging from treadmills to weight-training machines. To wind down why not go to the terrace on the community floor, meet with friends, or simply relax in the sun.
A healthier lifestyle will become an everyday practice. Expect to find your home simply “functional” no matter how you look at it! Master bedrooms have en suite bathrooms; kitchens are equipped with shutter for extra privacy, marble counter tops, and living rooms are fitted with granite tile flooring. Small details are not overlooked, all sanitary fittings are chrome-plated, shower valves are wall mounted and the mirrors are fully dimensional.
Damac Properties awards Dh805m contract to Intermass
July 26, 2008 by UAERush · Leave a Comment
Luxury lifestyle provider, Damac Properties, has awarded an Dhs805m contract to M/s Intermass Engineering and Contracting Co. LLC., for its Lakeside project at International Media production Zone (IMPZ). The project will be completed by December 2010.
Intermass is one of the most renowned contractors in the UAE and they have been associated with several landmarks in the country. Lakeside project is the Damac Properties third project in IMPZ- the previous two projects being the Crescent and Lago Vista in IMPZ. All the three projects are being built by Intermass.
“Intermass are one of the leaders in the engineering and construction industry in the UAE today and their appointment as main contractors is due to our faith in the quality of their work and our past experience with them. We have no doubt that they will deliver a product that offers state-of-the-art luxury and comfort to the residents at Lakeside”
said Peter Riddoch, CEO at Damac Properties.
Situated on the Emirates Road, the IMPZ is in close proximity to the Jebel Ali Port and the Jebel Ali Airport City, a unique free zone incorporating a vast array of residential, industrial, commercial and community service projects.
The projects prestigious location - IMPZ - extends a sophisticated lifestyle with unique facilities including in-campus transportation, medical centre, schools, hotels, shopping centres, restaurants, amphitheatre, sports grounds and full-fledged fitness clubs.
We are delighted to commence construction of yet another masterpiece for the discerning community in the Middle East and worldwide. A beautiful residential project, Lakeside at the IMPZ is a strategic development offering everything that one seeks - from state-of-the-art facilities to eco-friendly environment, added Mr. Riddoch.
A complex of two 21-storey and two 22-storey towers, Lakeside will have studio and one-bedroom apartments with state-of-the-art accessories, thoughtfully planned space and utilities and elegantly designed interiors.
In his comments on the project, Peter Riddoch, CEO at Damac Properties, said: Set amidst beautiful lawns, fountains and gardens, Lakeside extends a pioneering, premier residential complex within the heart of IMPZ, a unique free zone in Dubai. Overall, the project extends a distinctive lifestyle expression that offers unparalleled opportunities.
The project will also offer the perfect choice of amenities such as health clubs for men and women, steam and sauna facilities, gymnasium, aerobic centre, swimming pools, childrens play area, barbecue area, function room, tennis court and access to golf courses.
Lakeside is designed by industry renowned consultants - ARKonsult.
The projects prestigious location - IMPZ - extends a sophisticated lifestyle with unique facilities including in-campus transportation, medical centre, schools, hotels, shopping centres, restaurants, amphitheatre, sports grounds and full-fledged fitness clubs.
Damac has announced plans to deliver over 2300 units in 2008, followed by an additional 7100 units in 2009/10.
In 2008, Damac will also deliver 527 units in Lake View located at Jumeirah Lake Towers, 192 units in Executive Heights project at TECOM, 198 units in Tera Del Sol 1&2 and 848 units of The Crescent, located at IMPZ. In 2009/10, they will deliver a further 7100 units.
DCC awarded contract for new residential tower at Dubai Marina
July 26, 2008 by UAERush · Leave a Comment
Dubai Contracting Company (DCC) was recently awarded the main contract to build a new residential tower in Dubai Marina valued at AED 244m. The tower is planned to cover a built-up area of 43,677m2 and will stand 30 storeys tall, have 2 large top floor penthouses, and 3 basements.
Consultants Erga Progress are the consultants on the project, which is expected to start before the middle of this year and be completed within 24 months.
DCC’s Contracts Director, Mr. Ian Harper, noted that
“DCC is both excited and proud to be awarded this new project. We look forward to constructing a residential tower of the high standards and quality that people expect from our projects.”
Deyaar appointed as development manager for ICD’s One Za’abeel
July 26, 2008 by UAERush · Leave a Comment
Deyaar Development PJSC, the region’s fastest growing real estate company, announced today that it has signed an agreement with the Investment Corporation of Dubai (ICD), the investment arm of the Government of Dubai, to assume the development and management rights for One Za’abeel, an iconic 36-storey mixed-use development located at the World Trade Center roundabout in Dubai.
Under the terms of the agreement, ICD will continue to own the project, which will be developed and managed by Deyaar.
One Za’abeel was launched in June 2008 in line with ICD’s vision to identify and develop unique opportunities that will enhance Dubai’s position as an international city of excellence.
One Za’abeel will consist of three separate residential, commercial and hotel towers interconnected at the top and have a common podium at the base.
Construction at the site is set to commence shortly with completion scheduled for 2011.
The agreement further consolidates the position of Deyaar’s property management division as the development manager of choice for high-profile projects in the UAE.
Highlighting the strong growth of the company’s property management division, Saeed Al Qatami, Deyaar’s Managing Director - UAE Business, said:
‘Since the company was launched, Deyaar’s property management division has evolved from an institutional property manager focused on the management of Deyaar properties to a large, multi-client property manager in the public domain. Not only has the division taken on a bigger portfolio of properties to manage, it has been extremely successful in the process, helping property owners to maximise the return on their assets. This agreement with ICD demonstrates the high level of trust and confidence that Deyaar’s property management division enjoys among key property owners in the region.’
Khalifa H. Al Daboos, Director Investments, ICD, said: ‘Due to its central premium location at the end of the old business district and at the beginning of the business growth corridor on Sheikh Zayed Road, One Za’abeel is poised to become a symbol of Dubai’s rich trading roots, as well as its rapid rise into a modern international financial and business hub. It was extremely important in this respect that strong partners are brought onboard to deliver the highest quality of construction and services.
‘Deyaar has established itself as a principal performer in property development and management in the UAE with a proven track record of enhancing investor returns and simultaneously providing comprehensive ancillary services and care to its customers and tenants,’ he added.
‘We firmly believe that together we can develop a landmark that will be an icon in the emirate’s rapidly growing real estate landscape.’
In a first for the region, a highway will run through the development. One Za’abeel will also be in close proximity to two Metro stations.
The unique complex will include a residential tower with 450 apartments, a five-star hotel tower with 370 rooms and a commercial tower offering 500,000 square feet of office space.
