Anara Tower in Dubai

 

Anara Tower by Tameer is scheduled to be built within 2009. With its 2150 feet, it will be 500 feet shorter than Burj Dubai, but when it comes to design the tower will be amongst the most spectacular ever seen.

Designed by the British firm Atkins Design Studio, Anara Tower will house more than 300 high-class apartments, a 250 room luxurious hotel, and several offices.

The tower will be distinguished by its propeller-like structure on top, where a restaurant with an amazing view is found in the center of the hub.

Gallery

The Gate Towers 6 Billion AED development contract awarded to Arabian Construction Company

Sorouh Real Estate PJSC and Tameer Holding Investment LLC today announced the award of a AED 6.2 Billion contract to Arabian Construction Company (ACC) to build The Gate Towers, a joint venture project, situated at the entrance of Sorouh’s flagship project, SHAMS Abu Dhabi, on Al Reem Island.

This new contract will see ACC construct six of the eight towers that make up The Gate District, covering a construction area of 1.1 million square metres. Piling work is scheduled to start immediately and construction of the towers will begin January 2009, to be delivered in phases over the next four years. The Gate Towers will be a mix of residential, commercial, retail, serviced apartments and a hotel.

Mounir Haidar, Chief Executive Officer, Sorouh, stated:

“Sorouh is pleased to announce its continued partnership with ACC. As a leading real estate developer in the United Arab Emirates, Sorouh partners with companies that reflect our own professionalism and commitment to creating innovative real estate projects. We are looking forward to working with ACC on this phase of our exciting development.”

Dr. Abdallah Shaaban, Managing Director, Tameer Abu Dhabi, added:

“Tameer has an excellent relationship with ACC. This partnership adds value to our project with Sorouh, creating a spirit of excellence and efficiency where all three parties work together to produce an innovative and exciting development for Abu Dhabi.”

The contract is seen as a strategic partnership between Sorouh, Tameer and ACC, and will see all parties sharing roles and responsibilities such as procurement and engineering.

ACC’s Managing Director Hamed Mikati said the award of this contract shows that ACC has once again gained the trust of Sorouh.

“We are looking forward to completing this unique project which is set to change Reem Island’s ever growing skyline,” he said. “We have been active in the UAE for over 40 years and are very proud to have contributed in the growth of the country.

“We are very proud to extend our relationship with Sorouh and Tameer and we thank them for their confidence in ACC.”

SHAMS Abu Dhabi will be a completely new self-sustaining city designed around canals and parks which integrates world-class master planning practices and extends the lush green of Abu Dhabi’s landscape. In addition to the Gate District, Shams Abu Dhabi will feature several other unique projects including Central Park, Sky Tower, Sun Tower and Marina, and the Gate District.

ACC is currently building the Sky and Sun Towers in Abu-Dhabi for Sorouh, as well as Princess, the world’s tallest residential tower (414m high), and Elite Towers in Dubai for Tameer.

Zawya

Nobles to unveil Dh10bn ventures

Nobles Properties, the Dh4 billion real estate investment company launched by former Tameer Holding chief executive Omar Ayesh, will soon announce projects worth Dh10 billion in various parts of the Middle East, a top official said.

“We will launch three inter-connected towers with a built-up area of 2.3 million square feet on Dubai Waterfront, worth Dh7 billion in November,”

Omar Ayesh, chairman of Nobles Investments, told Gulf News in an interview.

The project will have residential, commercial and retail facilities as well as a luxury hotel.

The company, which will formally launch these projects in November, will also launch a Dh2 billion project in Burj Dubai.

Nobles has also identified three projects in Libya - a country which is coming out of economic and political isolation.

The company has already announced a Dh1.8 billion project involving three towers to be built in Tripoli, the country’s capital.

It has signed an agreement with Oya Tourism Investment and Development, a subsidiary of Libya’s Economic and Social Development Fund (ESDF), to develop Tripoli Towers, the company announced recently.

The project will be developed on a 275,000 square feet waterfront plot in the heart of Tripoli, with a total built-up area of 3.5 million square feet.

The new mixed-use project comprises two 40-storey towers, equipped with state-of-the-art facilities and various integrated services.

The first tower will boast a 5-star hotel facility, fitted with modern leisure and business amenities, high-end serviced apartments and a shopping centre.

The second tower will hold office space, providing a work environment designed to offer comfort, convenience and style of the highest standards.

“Our projects in Libya involves two master planned communities that could spread across 36 million square feet,” Ayesh said.

“These are among many projects in some of the region’s virgin markets.”

Nobles is in the process of creating its own verticals - investment, development, property management and property sales and marketing divisions - each of which will become profit centres within the framework of a holding company - solely owned by Ayesh.

“We have major plans to become the number one developer in the region,” Ayesh said. “We look for the opportunities at the right price and we have a long-term commitment to the region.”

On the current UAE market situation, Ayesh expressed his optimism.

“The market has been affected as foreign institutional investors have withdrawn billions of dollars from the local market to make up for losses elsewhere, which created a temporary correction,” he said.

Gulfnews

90% of IREIS 2009 space reserved by real estate companies

Real estate giants from the UAE and other countries will gather in Abu Dhabi in January for a major property show and organizers said nearly 90 per cent of the exhibition’s area has already been booked.

Dome Exhibitions will organize the January 27-29 Abu Dhabi Real Estate and Investment Show - IREIS 2009, to be held under the patronage of H.H Dr. Sheikh Sultan bin Khalifa bin Zayed Al Nahyan.

“Property companies from the UAE and other countries of the region are now vying to grab the remaining area of the exhibition,” Dome Exhibitions said.

“The fifth IREIS edition, which coincides with a construction upsurge in the UAE in general and Abu Dhabi in particular, will be a chance for major real estate developers from the region and the whole world to view the latest investment opportunities in this sector.” The Show will attract such major property companies as Tameer; the platinum sponsor of this event, Sorouh, Aldar, Al Qudra and Hydra.

According to real estate sources, property projects worth nearly Dh1.2 trillion are being carried out in the UAE, including Dh300 billion in Abu Dhabi alone.

They noted that the real estate sector has become a major contributor to the country’s gross domestic product given its rapid growth over the past years.

The sources expected sustained growth in demand for housing units in Abu Dhabi and other UAE emirates in the light of the economic and social boom through which the country is passing.

“The 2009 edition of the exhibition will be an opportunity to view the major projects being carried out or planned in the UAE and the region given the wide participation by major property companies as well as finance firms, banks and real estate brokers. This means this show will be a significant platform to finalize large deals in this sector,” Dome Exhibitions said.

It said many real estate companies from the UAE and other Gulf countries have confirmed their participation and booked large spaces in the exhibition, adding that this demonstrates their strong interest in the event.

Besides showcasing their products, the participating companies will present their current projects and future investments.

“This means the event will present an important opportunity to national and expatriate investors to see those projects and future plans in this sector,” Dome Exhibitions said.

“There is a strong interest from many investors and companies to take part in this event as is evident from their planned participation in national pavilions that will constitute an umbrella for companies from the same country, including those from Egypt, Morocco and India.” “We are confident that this event will be a good chance for all exhibitors and investors to present their projects and this in turn will contribute to further expansion in this sector and achieve the interests of all concerned parties.”

WAM/MMYS

Major construction contract signed for Tameer Towers

Real estate leaders Tameer and Sorouh today finalized an agreement with a joint venture of Al Habtoor Engineering / Murray & Roberts / Al Rajhi Projects to construct the landmark Tameer Towers project in Abu Dhabi for a cost of AED 6 billion, bringing the total cost of the project to AED 8 billion.

This announcement represents the accomplishment of a major milestone in the Tameer Towers project, a joint venture between Tameer Holding Investment LLC and Sorouh Real Estate PJSC.

The iconic Tameer Towers was launched in October 2007 and has since been considered one of Abu Dhabi’s landmark developments. Its simple yet creative design has made it a favourite destination for investors and end-users alike.

The construction partners will join the Tameer / Sorouh joint venture in an alliance that will include the architect Gensler from London, along with the structural engineer Thornton Tomasetti, the mechanical engineer Hilson Moran, and the facade engineer Buro Happold in addition to the project manager Hill International and the construction manager Bureau Veritas

MENAFN