Gulf Construction Online - Bonyan Emirates' Marina complex takes off

UAE Focus

Bonyan Emirates' Marina complex takes off

01 October 2003

Groundbreaking work for Azure@Dubai Marina, a residential project promoted by Dubai-based Bonyan Emirates, was started recently.

A senior official of the company said the six-storey complex will comprise one, two and three-bedroom condominium units and four-bedroom luxury duplex suites.
'Construction work on the state-of-the-art project has started and the project would be completed as per schedule,' says Bonyan Emirates chief executive officer Ismail Akil Abbasi.

Abbasi said that the company had positioned Azure@Dubai Marina as a landmark development, which would distinguish itself as being a high-quality, high-rise building. Quality materials will be used and the best-of-the-breed architectural consultants, designers and contractors - UK-based architectural firm RMJM and Dubai Civil Engineering (DCE) - have been roped in to execute the project, he said.

Prices for apartments in Azure@Dubai Marina range from Dh395,000 ($107,556) for a one-bedroom apartment on the first floor, to Dh1,450,000 for a four-bedroom duplex apartment with a terrace facing the Marina.
Azure@Dubai Marina will be located next to a huge park and will face the Dubai Marina Promenade, which will feature a busy shopping boulevard.

Investors will be offered an easy eight-installment payment plan starting with a 10 per cent down payment at the signing of the preliminary agreement. The final 10 per cent will be due at the time of taking over possession in September 2004.

Abbasi said the pricing of the project was extremely competitive, with the square foot rates being 10 to 20 per cent lower than any other comparable residential projects in the area.