Cirrus launches residential and commercial development, Aquarius Gate, at Waterfront

It is the first development at Waterfront to have commercial and residential units, gain full technical approval from Nakheel, have a trust account operational and have approval to sell from the Dubai Land Department before starting off-plan sales.

The development has undergone a Traffic Impact Study to consider the requirements of the RTA (Roads & Transport Authority) and an Environmental Impact Study which aims to achieve LEED (Leadership in Environmental Design Green Building Rating System) Gold accreditation.

Aquarius Gate is the second major development to be launched by Cirrus in Dubai, following the very successful launch of Celestial Heights in Downtown Jebel Ali last year. It comprises of two towers – one residential and one commercial – and is located in Madinat Al Arab, the premier beachfront community in the Waterfront. It is conveniently close to beaches, the metro station, shops, restaurants, parks and other amenities. One side of the development will be dedicated to an art wall which will showcase Islamic art from around the world.

Behnam Eshragh, Chairman and CEO of Cirrus Developments, comments:

“Aquarius Gate offers a mix of residential and commercial property in the heart of Dubai’s most ambitious mega project, Waterfront. We are excited that Aquarius Gate will be the first development in Waterfront to be launched with full technical approval from Nakheel and a trust account in place.

“Nakheel is a very progressive and demanding master developer and we are thrilled to have been the first to fully meet their world class standards. We have been impressed with their high levels of technical knowledge, professionalism and dedication to making Waterfront a success for everyone involved.

“Cirrus Developments will continue to be an innovator in the Dubai real estate market. We were the first developer to establish Dubai Land Department approved trust account before launching a single property. Last month we also announced that we had been approved to offer end-user financing for our projects by both Badr Al-Islami and Mashreq Bank.”

The commercial tower at Aquarius Gate will boast panoramic views of the Arabian Gulf and Palm Jebel Ali from its 29 floors. The building will have a unique glass core facilitating six glass elevators that provide spectacular uninterrupted views out to sea. The 19 floor residential tower will offer amazing views across the canal, marina and The Palm Jebel Ali. On the ground floor, twelve luxury three bed townhouses will be built and these duplexes will be repeated further up the building. There will be a variety of apartment types offering one, two and three bedrooms units.

Martin Ashkuri, Head of Sales adds,

“Already, there has been tremendous demand for Aquarius Gate. It is a great project, with superb location, design, price, and is the largest project in Waterfront to be launched to date. The pre launch event is aimed at bulk investors, following which we will be releasing individual units with a minimum 10% premium. This will reward our current buyers with immediate value and allow the end-user the opportunity to own their ideal home or office, still at a fantastic price.”

Located on the western shores of Dubai, Nakheel’s Waterfront will transform 1.4 billion square feet of empty desert and sea into an international community for an estimated population of 1.5 million people that is twice the size of Hong Kong Island. Waterfront is being developed on the last 15km of natural coastline in Dubai and will provide more than 70km of coastline in total, including the development of 23% of the Arabian Canal.