Bonyan International Investment Group, formerly DAR Consultants, has revealed plans to launch the world’s tallest hotel, adding another jewel to the impressive skyline of Dubai. Once completed, Park Square Tower – a Dh4.4 billion ($1.
$700m funds raised for AtlantisDubai: Istithmar and Kerzner International have signed a $700 million financing agreement with a consortium of banks to raise funds for the Atlantis, The Palm project. The project, valued at $1.2 billion, will be financed through the $700 million loan facility and $500 million of equity.
Pre-qualified companies are being invited to tender for various works related to the construction of the new World Trade Centre Residence in Dubai. The Residence is being built after the demolition of Dubai’s World Trade Centre Hotel.
Arabtec Construction has won additional contracts from Emaar, a leading Dubai-based property developer, to design and build 682 villas at its Arabian Ranches project.
Two leading property developers in the region have announced the development of two mega projects in the northern emirate of Umm Al Quwain. Construction work on the first, five-year phase of an ambitious Dh30 billion ($8.2 billion) real estate project to come up in Umm Al Quwain, is expected to start later this year.
Aldar Properties has announced that 11 leading UAE contractors have been invited to bid for the construction of the 1,388 villas that will make up its Al Raha Gardens community development east of the city.
Leighton (Australia) and joint venture partner Emtech have signed a pre-construction agreement to build a Dh1.8 billion ($500 million) water park, to be developed on the crescent of the Palm Jumeirah. Kerzner International confirmed that a pre-construction agreement had been made, but said that a final contract award had yet to be signed.
Dubai International Properties has awarded the joint venture of Al Habtoor and Al Jaber contracting firms the construction contract for the $200 million Dubai Towers project in the West Bay area. The 400-m-high Dubai Towers will offer high-end retail, state-of-the-art offices, a five-star hotel as well as top quality apartments.
With counterfeit air-conditioners appearing in the markets of the Middle East and Africa, global and regional digital leader LG Electronics has introduced an anti-counterfeiting programme that aims to stay one step ahead of the perpetrators.
Dubai Municipality has divided the Ras Al Khor road network projects into six contracts that carry a total estimated cost of Dh1.85 billion, to expedite work on the projects.
Dutco Balfour Beatty Construction Group has been awarded the Dh200 million ($54.5 million) contract for the phase one extension of Dubai’s creek.
The first user consultative group meeting held by Dubai Logistics City (DLC) – the first phase of the planned Jebel Ali Airport City project – has taken place with representatives from the emirate’s freight forwarding community providing valuable inputs for the fine tuning of the project’s masterplan.
Trident International Holdings (TIH) has launched its fourth freehold luxury residential project – the Trident Grand Residence – in Dubai Marina. The project will feature a sky gym, sky lounge, tennis courts besides a full fledged business center, banquet hall and 3G transponder system alongside a whole load of luxurious offerings.
Leading property developer Emaar Properties has announced the sale of residential units in The Links East Tower. The exclusive apartment community located in Dubai’s new growth corridor on Sheikh Zayed Road, offers excellent location, views and amenities.
