Al Fara’a to invest in Dubai Waterfront and Dubai Maritime City
August 18, 2008 by UAERush · Leave a Comment
The Arabian Gulf is currently witnessing over $100bn worth of investments in waterfront developments, in tune with ongoing global trends as indicated by recent studies that reveal up to two thirds of the world’s population living in coastal communities and a large amount of developments taking place in waterfront areas.
With aims to leverage the booming demand for high-profile coastal projects, Al Fara’a Properties, the flagship subsidiary of the Al Fara’a Construction, Industrial and Property Group, has announced its plans to invest within Dubai Waterfront and Dubai Maritime City - two of the largest master planned coastal developments in the world.
The developer’s latest expansion plan is in line with the ‘Blue Communities’ initiative spearheaded by master developer Nakheel under the patronage of H.H. Sheikh Mohammed Bin Rashid Al Maktoum.
As part of its aims to play an active role in the market for coastal developments while promoting ocean life preservation, Al Fara’a Properties has pledged its support for the ‘Blue Communities’, a model that effectively manages building communities within the coastal areas.
The developer is set to announce its projects within Dubai Waterfront and Dubai Maritime City in line with its plans to launch a series of new projects collectively valued at Dhs10bn in the second half of 2008.
Further, Al Fara’a Properties also plans to collaborate with experts to develop standards that govern coastal communities, which will foster new and innovative methods to fully maximise the potential of waterfront mega developments.
‘The ‘Blue Communities’ initiative is a breakthrough model that underlines the importance of ensuring a healthy balance in the development of luxury projects and the preservation of marine life,’
said Natasha Gangaramani, Director, Al Fara’a Properties.
‘Accordingly, we have translated our strong support for Nakheel’s pioneering concept into a concrete plan to build within Dubai Waterfront and Dubai Maritime City. We are expecting this move to reiterate our commitment as a developer to the resolution of environmental issues by taking into consideration such factors when developing our projects,’ she added.
Dubai Waterfront is a stunning new development, which is set to extend Dubai’s coastal line up to 12 times its current length or by 820 kilometres and will provide sea access for trade and entertainment. Designed to cater to commercial, residential and resort developments, the development will feature over 100 different waterfront projects and over 150 planned communities.
Similarly, the expansive Dubai Maritime City is a 227 hectare fully-equipped, iconic and multidimensional maritime centre, which is expected to house 400,000 people upon its completion by 2012. The developer has committed to develop its waterfront projects in line with US Green Building Council (USGBC) guidelines, which are being implemented within these high profile master developments.
‘The potential of these two mega projects to push Dubai as a major frontrunner in waterfront development is being eagerly anticipated by developers, investors and end-users, and this has fuelled our keen interest in venturing into these world class destinations. Moreover, we will ensure that our signature touch of sophistication and comfort will be incorporated within all of our future projects, which we expect to be delivered in line with the stipulated schedule,’
concluded Nitesh Gangaramani.
The commitment of Al Fara’a Properties towards the environment and the society reflects the company’s core values, particularly with regards to its corporate social responsibilities. In conjunction with the Al Fara’a Construction, Industrial and Property Group, Al Fara’a Properties has played a major part in significant community-related activities such as the recent ‘Dr. Moopen’s Medical Camp’, which was supported by the Indian Community Welfare Association, and provided free medical treatment and medicines to more than 500 construction labourers.
Further, the developer also organized an AIDS awareness seminar, which was held at the Le Grand Château construction site in Jumeirah Village in collaboration with Dubai Police, the United Nations Children’s Fund (UNICEF) and the Permanent Committee for Labour Affairs (PCLA), where officials disseminated preventive information regarding AIDS and the human immunodeficiency virus (HIV) to over 150 labourers.
Al Fara’a Properties launches AED 1 billion ‘Burj Al Fara’a’
July 19, 2008 by UAERush · 2 Comments
Al Fara’a Properties, the flagship subsidiary of the Al Fara’a Construction, Industrial and Property Group, has announced the launch of the Dh1 billion ‘Burj Al Fara’a', a state-of-the-art commercial tower located in the commercial business district of Jumeirah Village, which is spread across 811 hectares.
The unveiling of the developer’s latest project is aimed at addressing the strong demand for commercial space within Dubai, which is expected to witness the construction of over 86 million square feet of built space for office use by 2010.
Scheduled for completion by December 2011, Al Fara’a Properties has revealed plans to break ground on the 38-storey state-of-the-art commercial tower by December 2008. Set to offer a selection of office spaces, Burj Al Fara’a will provide a highly impressive business address to both local and multinational businesses seeking to establish a strong presence within the commercial business district at Jumeirah Village, which has recently witnessed the completion of 60 per cent of its infrastructure works.
“The launch of ‘Burj Al Fara’a', which is a testament to our growth and diversifying business, is aimed at leveraging the enormous demand for high-technology commercial spaces in Dubai,” said Natasha Gangaramani, Director, Al Fara’a Properties. “We will be working towards the timely delivery of this project, which will be constructed using the highest industry standards to supply the booming demand and fittingly represent the philosophy of our organisation. Our main focus lies in achieving success in all our endeavours, and we have developed a result-driven strategy based on the rapidly-maturing real estate climate which clearly states the excessive need for commercial spaces to be built in Dubai within the coming years.”
Recent studies have shown that Dubai ranks second to Moscow in terms of the amount of commercial floor space being constructed, and with the limited stock of quality office space in Dubai, it is not surprising why massive commercial developments are being undertaken in the emirate at present. The lack in supply and relatively cheaper rates compared to other real estate destinations such as London continue to drive the growth of Dubai as the world’s premier business hub. Al Fara’a Properties has recognized the underlying niche within the commercial segment and has plans to further leverage the booming demand for office space in Dubai.
“The construction of the ‘Burj Al Fara’a’ will be undertaken in accordance to a rigid timetable, which will ensure that the project will be delivered within our stipulated delivery schedule. This is part of our continuous commitment to customer satisfaction not only in terms of quality benchmarks but also in our proven credibility. We are also preparing to undertake several project launches under our expansion plan for 2008, which is aimed at bolstering our portfolio and further establishing our position as one of the top developers in the UAE,” concluded Nitesh Gangaramani, Director, Al Fara’a Properties.
Al Fara reveals Dh10 bn plans
July 13, 2008 by UAERush · Leave a Comment
Al Fara’a Properties, the flagship subsidiary of the Al Fara’a Construction, Industrial and Property Group, has announced its plans to launch a series of new projects collectively valued at Dh10 billion within Dubai’s most sought-after real estate destinations by the end of 2008. The ten-fold expansion will reiterate the leading developer’s focus on providing quality built spaces and integrated services for regional and international clients through the unveiling of several high-profile commercial, residential and mixed-used projects.
Al Fara’a Properties said that the projects will be strategically located in Dubai Maritime City, Dubai Waterfront, Downtown Jebel Ali, and Al Reem Island.
The new batch of projects will incorporate the developer’s signature features, including additional amenities that give Al Fara’a Properties’ projects its distinctive edge, said a statement.
“We have developed a result-driven strategy based on the rapidly-maturing real estate climate to ensure the success of the upcoming projects we currently have in the pipeline,” said Natasha Gangaramani, director, Al Fara’a Properties. Read more
