Sheffield announces Dh3.5b projects on Dubai Waterfront
October 21, 2008 by UAERush · Leave a Comment
Sheffield Real Estate FZC, developers of the skyscraper Marina 101, said it will build three projects on the Dubai Waterfront at a cumulative investment value of Dh3.5 billion.
Abu Ali Malek Shroff, chairman of Sheffield Real Estate, said: “Over the years, we have carved a niche for ourselves as a real estate developer focussed on master communities that have added value to Dubai’s stature as world’s best destination for freehold real estate investments. We believe that Dubai Waterfront is another exclusive opportunity from Nakheel with huge potential for maximising returns from investments.”
The Dubai Waterfront properties join Sheffield’s developments in its portfolio with residential projects in Dubai Marina, International City, commercial development in Jumeirah Lake Towers (JLT) and a shopping mall in Mizin.
Portfolio
The flagship project of the company is the Dh1.7 billion Marina 101, one of the tallest towers in Dubai. Sheffield pioneered the moneyback concept with Marina 101 wherein investors after possession would gain 75 per cent returns from the management of the property.
Marina 101 will be spread across 1.65 million square feet and the hotel component will be operated by a renowned hotel operator. On the Waterfront entry, Shroff said Sheffield has received concept approval to finalise three residential developments within the Dubai Waterfront, cumulatively spanning over three million square feet in prime location within the development.
“We will be launching all three projects simultaneously. Together with the Dubai Waterfront properties, our investment value in Dubai’s freehold real estate sector will now touch approximately Dh9 billion,”
he said.
Works on all its projects, including Marina 101, the shopping mall in Mizin & the Corporate Tower in JLT are progressing in line with the committed schedules.
Mizin to unveil Dubai’s first boutique villa community at Cityscape 08
October 4, 2008 by UAERush · Leave a Comment
Mizin, the real estate development arm of Tatweer, today announced that it will unveil a contemporary, boutique villa community offering a ‘limited edition’ signature lifestyle.
Located in DUBAILAND, in close proximity to elite neighbourhoods such as Tiger Woods Dubai and Bawadi Boulevard, the Ghaya community will feature spacious villas designed with a minimalist, modern style, positioned on ample sized plots, conferring luxury and privacy.
“Mizin’s growth trajectory is based on the creation of a distinct real estate portfolio comprising high quality projects, derived from a genuine understanding of the needs of different customers. Our developments MAJAN, ARJAN, LIWAN and REMRAAM currently cover 73 million sq ft within DUBAILAND. With the addition of Ghaya, Mizin’s footprint of unique developments will exceed 82 million sq ft,”
said Ahmad Sharaf, CEO Tatweer Investments.
‘While the property sector is receptive to the general shortage of luxury villas in the UAE, Mizin is extending its customer-centric approach by proactively responding to specific lifestyle needs within the luxury market,’ continued Sharaf.
Designed by a team of internationally renowned architects, Ghaya villas have a heightened feeling of space, allowing for maximum admission of light and greater privacy, both of which are areas of differentiation for luxury buyers. Displaying subtle Arabic undertones, the architecture at Ghaya will be distinctly different from existing developments in the market.
The Ghaya villas will offer residents recreational facilities and amenities, including exclusive community centers, club houses, mosques, nurseries, schools, community pools and health care centres. The development will also feature lush landscaped parks, boardwalks and tree-lined walkways.
This new development follows the successful launch of Mizin’s REMRAAM community, which addressed the market need for affordable, yet up-scale housing. The REMRAAM community remains one of the best selling developments in the UAE to date with over 8,000 units sold in just seven months.
AME Info/Press release
