Tower

Ivory Tower-contracts cancelled

Hundreds of investors in the long-delayed Ivory Tower residential project in Dubai have been told by the developer, Sokook Investment Group, that their contracts will be cancelled and 20 per cent of the sales price kept. Investors were told the move was made because they were in arrears in instalment... 

MAG 218 set for completion

MAG Group announced apartment owners in the MAG 218 Tower in Dubai Marina will be able to view one and two-bedroom residences at least 18 months prior to handover. The MAG 218 residential tower consists of 555 apartments spread over 66 floors and will be completed within schedule in December 2009. Strategically... 

Damac Properties awards Dh805m contract to Intermass

Luxury lifestyle provider, Damac Properties, has awarded an Dhs805m contract to M/s Intermass Engineering and Contracting Co. LLC., for its Lakeside project at International Media production Zone (IMPZ). The project will be completed by December 2010. Intermass is one of the most renowned contractors... 

DCC awarded contract for new residential tower at Dubai Marina

Dubai Contracting Company (DCC) was recently awarded the main contract to build a new residential tower in Dubai Marina valued at AED 244m. The tower is planned to cover a built-up area of 43,677m2 and will stand 30 storeys tall, have 2 large top floor penthouses, and 3 basements. Consultants Erga Progress... 

Deyaar appointed as development manager for ICD’s One Za’abeel

Deyaar Development PJSC, the region’s fastest growing real estate company, announced today that it has signed an agreement with the Investment Corporation of Dubai (ICD), the investment arm of the Government of Dubai, to assume the development and management rights for One Za’abeel, an iconic... 

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... 

Santorini on Marjan Island unveiled

Stallion Properties on Sunday launched the Dh1.2 billion Greek-style development on Marjan island in Ras Al Khaimah, in line with plans to raise its total portfolio in the UAE to around Dh4.5 billion. The Santorini development will comprise 560 units covering an area of just over 463,000 square feet.... 

Al Fara’a Properties launches AED 1 billion ‘Burj Al Fara’a’

Al Fara’a Properties, the flagship subsidiary of the Al Fara’a Construction, Industrial and Property Group, has announced the launch of the Dh1 billion ‘Burj Al Fara’a', a state-of-the-art commercial tower located in the commercial business district of Jumeirah Village, which... 

Dubai residential prices to ease in 2010?

House prices in Dubai are set to moderate in 2010, as supply and demand begin to strike a balance, according to industry analysts. Robert McKinnon, managing director of Al Mal Capital Research, said: “Into next year we expect prices to begin to moderate, though not substantially.” There has... 

Awali unveils four towers in Ajman

Awali Real Estate Investment yesterday announced the launch of four towers valued at Dh1.2 billion located within the Dh20 billion Awali City in Ajman. The 25-storey Mashrabia Residence will be residential twin towers, comprising of 800 apartments. The residence will be around 14,965 square feet on each...