DAMAC Properties’ completes enabling works at two flagship Business Bay properties

Leading property developer Damac Properties Dubai has announced that enabling works at two of its developments at Business Bay have been completed.

Work to carry out shoring piles and excavation in readiness for construction of the two properties at Capital Bay and Park Central has now finished and the areas are now ready for main contractors to move on site this month. Damac Properties Dubai has already awarded main contracts worth Dhs390m for both projects to Al Nekhreh Contracting Co. LLC.

Both Capital Bay and Park Central offer commercial space at the heart of Business Bay. At the 17-storey Park Central tower, people will be able to make the most of the working day with a shopping arcade and cafes on site. In addition both outdoor and indoor leisure facilities are on offer including a gym and also an opportunity to enjoy walking around the nearby lake. Similarly at its two tower development at Capital Bay, Damac Properties is offering people a location right at the heart of business in Dubai.

CEO of Damac Properties Dubai Peter Riddoch commented that the positive progress on these two developments was indicative of the company’s determination to push forward at all of its locations in Dubai.

“We have completed our enabling works on time and now look forward to the arrival of the main contractors on site to commence the construction phase of these two striking projects,”

he said.

“Business Bay truly represents the ambition and dynamism of Dubai by creating a hub for modern and forward looking companies to work in. The whole area will have vibrancy about it and we are delighted to have several projects at the heart of this cosmopolitan new business environment.”

In addition to Park Central and Capital Bay, Damac Properties Dubai also has several other projects underway at Business Bay with contractors at its XL Tower development due to undertake the ground floor concrete pour in the next few weeks.

Mr Riddoch added:’ Our entire range of properties at Business Bay will reflect the different styles and design capabilities we have as a company and we look forward to more progress at each of our towers in the coming months.’

2008 has been the ‘Year of Construction’ at Damac Properties, during which its businesses have aggressively focused on construction and contract delivery to trusted and quality contractors. In line with this, the company is making good progress at its major developments and has recently handed over 571 units at Lake Terrace in Jumeirah Lake Towers in Dubai and with the promise of delivery of 192 units at the Executive Heights project at TECOM in Dubai, 198 units in its Tera Del Sol developments in Discovery Gardens in Dubai, 536 units at LakeView in Jumeirah Lake Towers in Dubai and 847 units at The Crescent, located at IMPZ in Dubai, all before the end of 2008.

AME Info/Press release

Dubai Properties to showcase and release megaproject at Cityscape Dubai 2008

Dubai Properties, leading master developer and a subsidiary of Dubai Properties Group (DPG), yesterday announced it will release details on its new projects and showcase existing developments at Cityscape Dubai 2008, one of the largest business-to-business real estate investment and development events in the world.

The master developer is also an exclusive sponsor of the annual ITP Architecture Awards, the Media Centre at the trade center and the Cultural Evening organized by Cityscape, to be held on the 8th of October.

The exhibition scheduled to be held from 6-9 October 2008 at the Dubai International Exhibition Centre (DIEC) is the 7th edition of Cityscape Dubai and will bring together industry professionals including property developers, investors, government and property development authorities, architects, designers and consultants from over 130 countries.

The Dhs40-bn Mudon master development will be showcased at the 480 sq ft. Dubai Properties stand. Dubai Properties will launch the first aspect of Mudon, with 348 of the Cairo Townhouses made available for sale.

Mudon Cairo Townhouses comprises of a 1.4 million square foot cluster of 2-storey, 4 bedroom villas, within the Cairo section of the project. Expected to be completed in 2010, each villa within the cluster will include a garage for two cars, patio and garden and a first floor terrace.

Yaqoob Al Zarooni, Deputy CEO, Dubai Properties, said:

“As with every year, Dubai Properties looks forward to a fruitful participation at this edition of Cityscape Dubai. Over the past four years, the event has proven to be a key industry platform for spotlighting our offerings to a well-informed audience of investors and buyers. Based on the response received at previous participations, we are confident of garnering heightened interest in our stable of landmark projects and replicating our success.”

“Cairo Townhouses, the first aspect of Mudon to be released, is an exciting project that we are confident will attract major investor interest, and Cityscape is the appropriate time and place to put them on the market,”

he added.

As part of its support of architecture excellence and design from the emerging regions, Dubai Properties will sponsor the Cityscape Dubai Architecture Awards. The internationally renowned awards will bring together professionals from the GCC states, the Middle East, Asia, Africa, the Indian subcontinent and Australasia. Highlighting the multidimensional scope of architecture, the awards recognize achievement in select categories including residential, master planning, travel and transport, community, leisure, tourism and travel, environmental and Islamic architecture.

Al Zarooni added: ‘Dubai Properties strongly believes in valuing people and investing in excellence. As a leading master developer, we consider investing in human capital and nurturing growth in the company as our top priorities. We are keen to bring our organizational values to Cityscape Dubai by sponsoring the Architecture Awards.’

As sponsors of the Media Centre, Dubai Properties will offer an exclusive and well-equipped space to a constant stream of over 800 media professionals to ensure the event gains high visibility in the regional and international media.

Poised to become a trillion dirham master developer, Dubai Properties is currently implementing several unique developments around Dubai, including the Culture Village, Business Bay, Mudon, Tijara Town and The Villa.

AME Info/Press release

Hydra Properties completes excavation work for Corporate Towers at Al Reem Island

Hydra Properties, the leading UAE-based international property developer, announced the completion of excavation work for iconic Hydra Corporate Towers located at Al Reem Island in Abu Dhabi.

Reaffirming his commitment to remain as a real estate trendsetter, Dr. Sulaiman Al Fahim, Chief Executive Officer, Hydra Properties, said:

“Hydra Corporate Towers will bring hitherto unheard of class and elegance to business towers in Abu Dhabi. This project is especially meant for decision makers and the spaces are planned in such a way that ideas and strategies will flourish in a conducive atmosphere for innovative thinking. I’m confident that the Hydra Corporate Towers will inspire a new business ethos in Abu Dhabi and contribute in ample measure towards the growth of the nation.”

Giving a micro view of the project, Eng. Jonathan Ing, Project Manager, Hydra Properties, said:

“Hydra Properties has made much headway in the initial phase of the project and is going ahead of schedule to complete the towers. Excavation has been completed in a smooth manner and now men and materials are ready for the next stage.”

The project is expected to be completed by September 2011, and is executed by Tafseer Contracting Company while National Engineering Bureau acts as the engineering consultancy.

Corporate Towers include two office towers and offer scintillating views of Arabian Gulf and easy access to the centre of Abu Dhabi.

The interior is designed to make optimum use of space and light and every detail has been carefully planned and worked out, from its high-speed elevators and multi level car parks, to its world-class leisure facilities.

The tower will also have a number of serviced apartments where the finest values in design and technology meet to provide an unmatched ambience. The apartments, to be managed by a leading luxury hotel group, are available for outright sale.

Hydra Properties has blazed a new trail by raising landmark projects across the continents, stretching from Hydra Waves in Mexico to Al Aqeeq Marina in Kuwait.

Hydra Properties’ major ventures in the UAE include Hydra Village Abu Dhabi, Hydra Avenue Towers, Hydra 55, Marina Spirit, Abu Dhabi Golf Walk, Hydra Corporate Towers, Hydra Heights, Hydra Downtown Towers Dubai, Hydra Towers Business Bay Dubai and Hydra Twin Towers, Jumeirah Village, Dubai.

Hydra Properties completes foundation work of Hydra Avenue Towers at Al Reem Island

Hydra Properties, the leading UAE-based international property developer, today said that it has fast tracked its prestigious Hydra Avenue Towers project, located at Al Reem Island in Abu Dhabi, by completing the foundation work for the project ahead of the schedule.

“Hydra Avenue Towers is all set to add majesty and grandeur to Al Reem Island. Avenue Towers is rising fast to fill a void in the property market in Abu Dhabi and is the answer to the prayers of investors and those who seek serene and luxurious living spaces. We, at Hydra Properties, are devoting all our energy and expertise to the successful completion of the project,” Dr. Sulaiman Al Fahim, Chief Executive Officer, Hydra Properties, who was recently bestowed with the Outstanding Achiever - 2008 Arabian Property Award, said in a comment on the swift progress of the project.

Offering a brass-tacks view of the project, Eng. Mohammad Fawzy, Head of Engineering Division, Hydra Properties, said the project had gained momentum with the completion of foundation work which took us three months. “The focus now is on finishing the pillar work as early as possible. The logistics for the rest of the tower is being chalked out and we are confident of meeting our rigorous standards of excellence,” he added.

The Hydra Avenue Towers Project is expected to be completed by 2011. The project is carried out by Tafsir Contracting Co while Prime Engineering Consultancy is the engineering consultants for the project.

The Hydra Avenue Towers Project comprises six towers, rising up to 29 stories, and will go a long way to deepen the dazzle of the City of Lights at Al Reem Island in Abu Dhabi.

These six skyscrapers are classified into a group of three each and will stand as a brotherhood of buildings at the City of Lights. Hydra Avenue Towers are designed to triumph over a podium that stretches over five floors.

Hydra Avenue Towers are specially conceived to provide solace for the residential needs of men and women on the move. And to provide the residents a holistic living environment, thinkers at the Hydra Properties have included retail towers at the Hydra Avenue Towers.

Throughout the towers, reflecting the spirit of the times we live in, futuristic smart home technology will be deployed to ensure the residents a ceaseless flow of comfort and convenience.

Hydra Properties never forgets its core philosophy of sustainable development and is determined to adhere to global standards in eco-friendly space management at Hydra Avenue Towers.

Reaffirming Hydra Properties’ philosophy that has helped the Abu Dhabi-based company to reap a rich harvest in the global realty market, Dr. Al Fahim, said: “Hydra’s philosophy goes beyond brick and mortar. Hydra’s each project is designed to be a living organism, blending in with ecology and breathing nature’s pristine energy, so that you don’t feel trapped inside the steely and concrete claws of your apartments. Each day, Hydra strives to make its spaces radiate with positive energy so that you get more from life.” Hydra Properties has blazed a new trail by raising landmark projects across the continents, stretching from Hydra Waves in Mexico to Al Aqeeq Marina in Kuwait. Hydra Properties’ major ventures in the UAE include Hydra Village Abu Dhabi, Hydra Avenue Towers, Hydra 55, Marina Spirit, Abu Dhabi Golf Walk, Hydra Corporate Towers, Hydra Heights, Hydra Downtown Towers Dubai, Hydra Towers Business Bay Dubai and Hydra Twin Towers, Jumeirah Village, Dubai.

WAM/SA

Construction work on Oberoi Centre

Rani International Development LLC, the wholly-owned subsidiary of the Aujan Group, today announced the appointment of Al Naboodah Contracting LLC to undertake the construction works of the Oberoi Centre in Business Bay. Al Naboodah Contracting LLC will mobilize on site in Business Bay in July, following the completion of the project’s enabling works. Once completed, this distinctive project which comprises an office tower and the world-class Oberoi Hotel, will be a distinctive architectural landmark at the main entrance of Business Bay.

Mr. Maher Al Aujan, Managing Director of Rani International Development LLC says, “We are very excited with the award of the Oberoi Centre main construction works contract. We have engaged world class design team on this distinguished development and it will be very exciting and fullfiling to see it off the ground. The construction works will take 24 months and we are confident that Al Naboodah Contracting LLC will deliver our vision for this project as we have planned it.

Mr. Maher Al Aujan adds “We have award-winning professional firms working closely together to ensure this project in Business Bay is completed and delivered to the satisfaction of our clients.