Kaizen Developments the first to unveil a Mina Rashid project at Cityscape Dubai

Mina Rashid, is the name given to the redevelopment of Port Rashid, covering 73 million square feet, with over 50 million square feet being re-claimed.

Amir Salam, Managing Director for Kaizen Developments confirmed the unveiling of the new project saying:

'We are proud to be the first developer granted permission to display a project in Mina Rashid at Cityscape. Altura will be a premium commercial tower in the heart of Dubai. We believe that the Mina Rashid project will be unique, drawing on the roots of modern day Dubai. The redevelopment will build on the culture and heritage of the original port and will be a tribute to the memory of His Highness Sheikh Rashid bin Saeed Al Maktoum, the father of modern-day Dubai. We are excited that by showcasing Altura, we will help generate awareness and interest in the Mina Rashid masterplan.'

Abdulrahman Kalantar, Managing Director of Design & Planning, Nakheel stated 'The redevelopment of Mina Rashid is progressing well and it will become one of the most spectacular places in Dubai. Mina Rashid will become a thoroughly modern centre of international commerce and innovative real estate development with distinct sub districts that will exemplify Dubai's first model city to fully embrace the principles of Blue Communities. The Mina Rashid development will be appproximately 760 hectares and with a population of over 200,000 people once completed, and will certainly become a signature location for any developer.'

Altura is anticipated to begin construction in the first quarter of 2009, and expected to be complete by June 2011. Cityscape will pose as the first public unveiling of the design.

Mr. Salam continued by saying:

'We believe that this project will epitomize what Kaizen Developments stands for in terms of quality and efficiency, and our ethos of Responsible Luxury. The confidence Nakheel has in our project speaks for itself, in terms of what customers and investors can expect in terms of the finished project.'

Kaizen Developments is an established international leader in responsible luxury development. Headquartered in Dubai, operations span from the United Kingdom and Turkey to the Arabian Peninsula. Located in leading financial, cultural, and historical centers around the world, Kaizen Developments' portfolio includes the full range of development and investment opportunities, incorporates commercial, residential, and mixed-use developments.