• HSBC

Joint venture announced to build Sheikh Zayed Road icon

  • United Arab Emirates: Tuesday, December 05 - 2006 at 15:35
  • PRESS RELEASE

Zabeel Investments and United Holdings have announced a joint venture to build the AED 1.75 billion Tiara United Towers, a reference landmark on the Sheikh Zayed Road.

The visually striking 61-storey twinned towers are slated for completion in 2009 and represent an architectural first for the region.

The project is the first partnership for Zabeel Investments and United Holdings, a Dubai-based holding company with interests in commercial, residential and retail property development, investments in hospitality and recreation projects, as well as areas of finance.

Mohammed Ali Al Hashimi, Executive Chairman for Zabeel Investments, said: "This joint venture will see a true architectural icon take its place in Dubai's vision. The concept and planning for Tiara United Towers has been under discussion for months; as we looked for new techniques and solutions in order to bring something truly original; another Dubai first."

In a regional construction first, Tiara United Towers will feature a colouration technique, which will have the building appear in multiple colours as the building ascends. The exterior of the building will also feature veins; like those on a leaf, spreading across the surface from the corners and embracing the building. The scheme of the façade follows the colour spectrum, and as such is the definition of visible light.

In a fine balance between rational design and poetic interpretation, one of the towers will be dedicated to executive office space, while the sister tower will house a five-star business hotel comprising around 400 rooms. Connected by a leisure podium that circumscribes both towers organically, the entire complex sits on a 75,000 square foot area of business, hospitality, convention, retail and entertainment space.

"With Dubai's current shortage of office space, and consistent need for more short stay hotel rooms Tiara United Towers will feed a gap in the Dubai commerce market,' continued Al Hashimi.

United Holdings CEO, Abbas Kiani, said of the joint venture: "For our first development project, signing up with Zabeel Investments will allow us to realise an ambitious, yet unique property. United Holdings is committed to developing bespoke projects that reflect the vision of Dubai, and that will become a reference point on Dubai's main highway."

The office tower will comprise 350,000 square feet of leasable commercial space, while the hotel will provide 400 rooms including serviced apartments. Although a management contract for the hotel is yet to be decided on, the property will be more focussed on business and executive travellers. In another first for Sheikh Zayed road, Tiara United Towers will feature a robotic parking system with 1500 spaces. The complex will also comprise 50,000 sq. ft of retail space over six storeys.

Tiara United Towers has been managed by Asteco Development Management with consultation by adpi Designers and Planners and Project Management & Development Consultants (PMDC). adpi Designers and Planners have been responsible for the design of Dubai International Airport's Terminal Three, the New Passenger Terminal at Imam Khomeini International Airport, in Iran, the A380 Final Assembly Line Complex, Toulouse, France as well as China's National Grand Theatre in Beijing and the Shanghai Oriental Art Centre.
Tiara United Towers. 
Tiara United Towers.
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Notes and Media Contacts »

Zabeel Investments - is a multi-diversified investment company focused in the areas of commercial real estate development and management, private equity and asset management across a wide range of economic sectors in the UAE, GCC and overseas.

United Holdings - an investment company with interests covering commercial, residential and retail property development, as well as hospitality and recreation project development. United Holding also specialises in financial trading and services, guiding investors and engaging in joint ventures.

For further information, please contact:
Rami Halawani, Kate Mullen - Asda'a Public Relations, Dubai
Tel: +971 4 3344550 (ext: 404/403)

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