95% work on The Lagoons Islands completed
Sama Dubai, the international real estate investment and development arm of Dubai Holding, today announced it has successfully completed over 95 per cent of work on the water front (water-edging) at ‘The Lagoons’, the 70 million square feet Dubai Creek waterfront project that is fast taking shape as one of Dubai’s most ambitious developments.
With the excavation of canals almost complete and land reclamation in final stages, Sama Dubai estimates the seven landscaped and interconnected island districts that comprise ‘The Lagoons’ will be surrounded by Creek waters by end-2009.
As a master developer, Sama Dubai’s strategy is to develop various areas of the project through strategic partnerships with select third party developers. The preparedness of the site to flag off construction activities is being demonstrated with several third party (sub) developers mobilizing contractors to commence construction on their plots at The Lagoons. Last April, National Properties broke ground for its low-rise Flamingo Creek residential community at the award winning development.
Located within the heart of Dubai, the self-contained urban development has registered perhaps the most visible manifestation of the break-neck progression on site. Infrastructure work on more than 185,000 square meters of land is making rapid headway, achieving a significant number of key milestones.
Farhan Faraidooni, Executive Chairman of Sama Dubai, said:
“Sama Dubai is investing significant resources and efforts to ensure the infrastructure at ‘The Lagoons’ project is the best of breed. We have been making impressive strides towards the realization of a distinct project that will set precedents and raise the bar for future waterborne developments across the world.”
‘The Lagoons’ is currently making way to open its impressive on-site sales and customer service centre by the fourth quarter of 2008 with the upcoming release of two residential buildings slated for the first half of 2009.
The Lagoons’ will comprise seven beautifully landscaped islands, offering an inspired landscaped surrounding that is enhanced by a plethora of tranquil waterways, peaceful open parks, and green belts, all in a natural habitat setting. The development’s unique features have enabled it to continue attracting interest amidst the surge of real estate projects currently being developed in the UAE and across the region.
Underlining the emirate’s position as a world renowned destination, ‘The Lagoons’ anticipates the growing need in Dubai for a living environment that delivers an unmatched quality of life within a unique natural setting. The development embodies a bold vision of the future while building upon its rich past, where traditional souks and navigable waterways will co-exist with global business houses and boldly designed landmarks in a dynamic environment set amongst a lush, green waterfront.
Dubai Towers scoops prestigious property award
August 24, 2008 by UAERush · Leave a Comment
Sama Dubai, the international real estate investment and development arm of Dubai Holding, today announced its Dubai Towers-Doha project has won honours in three categories at the coveted CNBC Arabian Property Awards 2008.
The prestigious awards for Property Marketing, High-Rise Architecture and Best Developer Website, will be presented to Sama Dubai at a gala dinner to be held on 19 October at The Madinat Jumeirah in Dubai.
Farhan Faraidooni, Executive Chairman of Sama Dubai, said:
“We are proud our brand is synonymous with success in the regional and global markets. The prestigious awards for our Dubai Towers portfolio further consolidate our status as an international real estate master developer. Such coveted recognitions motivate us to expand our horizon and strive harder in our commitment to exceed expectations.”
Chaired by Eric Pickles, British Shadow Secretary of State, the awards’ panel comprised eminent global real estate experts, including design and architecture consultants.
Faraidooni added:
“The awards reiterate the UAE’s relentless pursuit of excellence. It also gives our brand higher credibility, allowing us to run the distinctions across all our marketing and communications strategy. In addition, investors will also be confident of making a informed decisions while selecting Sama Dubai as their master developer of choice.”
Earlier this year, CThe LagoonsC, a freehold, mixed-use project being developed by Sama Dubai, won two awards at Cityscape Abu Dhabi 2008. The Best Mixed-Use Development award was presented to CThe LagoonsC for its unique concept, components, overall planning and vision, while the Best Corporate Social Responsibility award was given in recognition of its vigorous efforts to preserve and enhance wildlife at the Ras Al Khor Wildlife Sanctuary.
Police arrest 4 Sama Dubai employees over alleged corruption
August 21, 2008 by UAERush · Leave a Comment
Four officials of real-estate developer Sama Dubai have been arrested and are being questioned by Dubai’s Public Prosecution, adding to the number of persons under investigation over allegations of bribe-taking and other financial wrongdoings.
One of the four people being held is Abdulsalam Almarri, chief executive of the Lagoon project of Sama Dubai, the international real-estate development and investment arm of the government-owned Dubai Holding, said a report by Zawya Dow Jones, citing the documents it saw on Thursday.
A Sama Dubai spokesperson said in a phone interview that he is trying to contact the company’s executive chairman, Farhan Faraidooni, who is out of the country, for “confirmation or negation” of the report.
“But as of now I have no information whether this is true or not,” said the spokesperson.
On Tuesday a former employee of Nakheel, another company owned by the government, was reported to be under investigation over allegations of bribe-taking, bringing to two the number of persons being investigated in connection with bribery at Nakheel.
Nakheel issued a statement on Friday confirming that a current employee was undergoing investigation by authorities for allegedly accepting bribes from another party. But it stressed that no embezzlement had happened in the company.
Dubai’s Public Prosecution issued a statement on Sunday saying that the government has a zero-tolerance policy against corruption, following a series of police probes this year into alleged financial wrongdoings by employees at firms including Tamweel, Dubai Islamic Bank and Deyaar Development.
Sama Dubai launches construction on QAR 2.3 Bn ‘Dubai Towers’ in Doha, Qatar
June 23, 2008 by UAERush · Leave a Comment
Sama Dubai, the international real estate investment and development arm of Dubai Holding, has commenced infrastructure work on the QAR 2.3 (Dh20) billion mixed use corporate towers - ‘Dubai Towers - Doha’. Ongoing construction work includes advanced enabling (substructure) works and tower piling. Podium piles have already been installed, with the main structure ‘building’ works scheduled to commence in the first half of 2007.
Located on the Corniche in the West Bay area of Doha, the project is set to be one of Qatar’s iconic landmarks and a prominent feature of Doha’s new skyline. The mixed-use corporate towers have been conceived to deliver the complete corporate experience in the heart of Doha’s bustling new business district. Projected to reach a soaring height of 435 meters, ‘Dubai Towers - Doha’ will help enhance the city’s diverse offerings and cosmopolitan character. Providing premium corporate real estate facilities with services and amenities catering to the local and regional business community, the towers will meet the rising demand for first-rate office space, quality residential units and hotel rooms.
