Eco Towers launched
October 29, 2008 by UAERush · Leave a Comment
Connection Real Estate, an Abu Dhabi-based property development company, yesterday launched a Dh1 billion mix-use environmentally-friendly project in the capital - Eco Towers - comprising luxury apartments and commercial property.
Chairman of the board of directors of Connection Real Estate, Abed Al Zeera said at a news conference in Abu Dhabi that the levelling work on their two plots where the project is to be built, will start within the next four weeks.
The gross floor area of the two plots is 787,000 square feet and it’s located on the Airport Road.
Talks with banks
“The two towers are expected to be ready for use in the first quarter of 2011,” said Al Zeera, adding that the project’s debt-to-equity ratio is targeted at 70:30. “We are currently in talks with a number of banks for financing the project. The project will be 70 per cent financed by regional banks from the Gulf states,” Al Zeera added. He didn’t elaborate further on the subject.
Al Zeera didn’t disclose the price-per-square feet for buyers, saying it will be announced later. Al Zeera said their project is being launched at a time when there’s a real shortage of residential and commercial property in Abu Dhabi and there’s a big demand from end users.
“We are doing it at the right time,”
he added. “Eco Towers addresses environmental challenges while ensuring great and long-term rewards for stakeholders,” claimed Al Zeera.
Another senior executive associated with the project, Khalifa Yousef Khouri, said in a statement that “Eco Towers advocate the rapidly emerging consensus that green buildings are fundamentally better - more healthy, less expensive to run, more appealing to occupiers and the public, and ultimately, more profitable.”
Connection Real Estate announces 1st LEED Platinum mixed-use towers in the Middle East at Cityscape Dubai 2008
October 6, 2008 by UAERush · Leave a Comment
Connection Real Estate and their exclusive sales agent, Colliers International, plan to launch the landmark Eco Towers at Cityscape Dubai 2008.
During their participation they will reveal details about the 23-storey twin towers which are strategically located in the prestigious community of Dhanet Abu Dhabi. The Abu Dhabi-based property development company is set to build the first mixed-used towers in the Middle East with LEED Platinum certification.
The Eco Towers, named for their eco-friendly positioning, will provide retail space, modern facilities and luxurious Grade-A quality finishing while adhering to environmentally sensitive standards. Costing an estimated Dhs900m, this unique residential and commercial property also personifies the compatibility between value driven principles and a multi-facted approach to green construction.
HE Khalifah Khoury, Vice President of Connection Real Estate said:
“We are extremely excited about launching the Eco Towers at this year’s Cityscape Dubai as it will highlight our company’s plans to play a dedicated role in promoting the UAE’s vision of green building. By offering construction solutions that create the lease impact on the environment, we hope to serve as a sustainable benchmark for the region.”
The Leadership in Energy and Environmental Design (LEED) is an international green building rating system that sets environmentally sustainable construction criteria. It aims to establish a common standard of building designs that minimize risks on the environment and raise awareness among consumers of the benefits of green construction. and Platinum is the highest level.
Fadi Al Qassim, Projects Manager of Connection Real Estate said:’ While striving to achieve the highest LEED certification in the extreme conditions of the desert for the Eco Towers, we look forward to the transformative effect of adopting environmentally friendly practices in the building industry. Building for the future has never been more exciting or imperative,’ Al Qassim continued ‘We have selected the US Green Building Council to grant us with the Leed Certification as they have a thorough understanding of what our local market requirements need as they experience similar conditions to those we have in our market.
The commercial tower will offer 36,485 square meters of office space while the residential tower will provide 36,685 square meters of space for healthy living. Eco Towers’ living and working spaces will be more cost-effective, safer for the environment, healthier to live and work in. Air purification systems, renewable energy, toxic-free materials, dual glaze windows, water efficiency and waste reduction are just some of the eco-friendly features incorporated into the development. Perched on a podium, the towers’ amenities include Smart Home Technology, linked underground car park and proximity to the Holiday Inn in Dhanet Abu Dhabi.
Connection Real Estate and Colliers International will showcase the Eco Towers at stand number 7E40, Hall 7 at the Dubai International Exhibition Centre. Expressions of interest for sales will be accepted at Cityscape Dubai 2008.
AME Info/Press release
