New projects for Al Sharq worth US$ 1.2 billion

One of their residential development projects is Al Sharq Tower, which once completed will be the tallest tower on Dubai's Sheikh Zayed Road.

With construction starting in April next year, Al Sharq will reach new heights with their signature landmark appropriately named Al Sharq Tower. Positioned in the centre of Dubai's business district, the 100 storey, 360 metre tower consists of 268 luxury apartments and notably allows buyers the option to customise their own individual floor plans. Designed by the internationally renowned Skidmore, Owings & Merrill (SOM), the iconic vertical resort has eight cylinders defined by a spiraling filigree structure, which will create a unique marker on Dubai's main highway.

"Our business strategy is to offer an expanding portfolio of signature projects with cutting-edge design and uncompromised quality. These projects reflect our commitment to market demand for high-end, quality driven and innovative real estate developments," commented Ali Al Shehri, Chairman, Al Sharq Investment.

Their other projects carry some of the most prestigious addresses in Dubai such as the 400 room luxury resort hotel, W Dubai - The Palm on the crescent of the Palm Jumeirah. W Hotels®, the world's fastest growing luxury hotel brand, is a part of Starwood Hotels & Resorts Worldwide, Inc.. At a cost of US$ 180 million, the hotel is due for completion in December 2009. Al Sharq will also release 200 prestige freehold residences on the Palm Jumeirah, adjacent to the W Dubai - The Palm, featuring 40 metres of pristine beach front.

Steve Tight, Chief Executive, Al Sharq Investment, stated, "To achieve our highest quality standards we partner with world-class organisations, from the start of the project through to completion and beyond. Distinguished architects, leading construction companies and internationally branded operators are all meticulously selected to ensure that we deliver our promise to not only meet, but exceed our clients' and guests' expectations."

In Business Bay, Al Sharq will develop two architecturally stunning towers, Rawasi Tower and Nadra Tower. The 35 storey commercial Rawasi Tower offers 590,000 square feet of freehold office space and 58,000 square feet of retail space, in a prime location at the gateway to Business Bay. The project will be finished by September 2009 at a cost of US$ 140 million. The Nadra Tower consists of 30 storeys and will be ready for occupancy a full 12 months before its sister property Rawasi Tower.

Over at Dubailand, having already launched Aqua Dunya Resort, a water themed family entertainment destination spread across more than 60 hectares, Al Sharq has added Aqua Dunya Residences which contains over 1,600 freehold apartments for sale along Emirates Road adjacent to the City of Arabia. The community includes a lakeside hotel, restaurants, cafes and bars with water taxi service to the adjacent Aqua Dunya Resort. This residential development takes Al Sharq's total investment in Dubailand to over US$ 1.7 billion alone.