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Tuesday, November 10 - 2009

DWC'S residential avenue apartments opened for registration

  • United Arab Emirates: Monday, October 20 - 2008 at 16:09
  • PRESS RELEASE

Dubai's most important long-term infrastructure project, Dubai World Central (DWC) - the 140 square kilometre urban land development under construction in Southwest Dubai - is opening up registration for an important residential component to Kuwaiti investors.

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  • Khalid bin Harib, CEO, DWC Real Estate.
    Khalid bin Harib, CEO, DWC Real Estate.
DWC's aviation, logistics, tourism and commercial proposition has captured the interest of most Kuwaitis, enhancing the image of the project which is centred around what will one day be the world's largest airport.

Based on the massive response received from DWC's participation at Kuwait Property Exhibition (KUPEX) last year, registration for the building apartments along The Residential Avenue, a 70-metre wide spine road that divides the southeast and northwest portions of DWC Residential City, will be conducted at KUPEX 2008.

KUPEX will be held at the Sheraton Hotel and Tower in Kuwait on 21-24 October 2008.

"The interest generated by the real estate components within Dubai World Central spans across the GCC, Middle East, and even beyond. The value proposition of the entire DWC has attracted tremendous response during the initial sales of plots in DWC Residential City's phase one and two," said Khalid bin Harib, CEO, DWC Real Estate.

"With all first two phase plots sold out, we are confident that an equally encouraging response will be generated at KUPEX,"


added bin Harib.

DWC Residential City, a mix of five to ten-storey mid-cost apartment blocks targeting the mid-income segment, is expected to house up to 250,000 people, and also provide for approximately 20,000 jobs. Other features include a special staff village that will house blue-collar workers within high-quality accommodation, as well as the latest facilities including schools, malls, hotels, health centres, community centres, mosques, fuel stations and parks.

In February 2007, over 200 plots valued at Dhs2bn were sold out in Phase 1, while another 283 plots valued at Dhs6bn were sold out in Phase 2 in March this year. The development of DWC Residential City is on-track, as the next three phases of a five-phase development plan will be up for sale during the next three consecutive years.

"Our participation at KUPEX is a reflection of the regional and international interest from investors to Dubai World Central," said Abdulla Al Falasi, Director of Marketing and Corporate Communications, DWC.

"We expect that the apartments which are to be offered for registration at KUPEX would immediately be filled up as testament to Dubai World Central's extremely attractive and sound investment opportunity that is unique to anywhere else in the region,"


added Al Falasi.

In Phase 1, corporate houses led the investor rush with an aim of providing their employees subsidised housing, while on the other hand, Phase 2 saw major real estate developers investing in DWC's prime real estate as regional developers have already understood DWC's value proposition in offering mid-cost housing.
Also consider reading:
Log in to request more information from Dubai World Central (DWC)

Notes and media contacts

About Dubai World Central:
Dubai World Central (DWC) is a 140 square kilometre urban aviation community centred around the world's largest international airport. Currently being built 40 kilometres from the existing Dubai International Airport the project is almost twice the size of Hong Kong Island.

DWC creates a new benchmark in urban planning and destination living designed to support Dubai's aviation, tourism, commercial and logistics requirements until 2050 and beyond, and represents one of the most important developments in the history of the United Arab Emirates.

Eventually home to over 900,000 people, DWC will be true 'city-within-a-city' with all the amenities that make up a world-class residential destination.

DWC, with infrastructure costs estimated at $33bn, comprises six specialized clustered zones: DWC-Al Maktoum International Airport, Dubai Logistics City (DLC), DWC Aviation City, DWC Commercial City, DWC Residential City and DWC Golf City.

DWC is endorsed by the Government of Dubai and is chaired by His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Aviation City Corporation - Dubai World Central, Government of Dubai.

About Dubai World Central components:
DWC-Al Maktoum International Airport when completed will be the world's biggest passenger and cargo hub, with a capacity of 150 million passengers and more than 12 million tonnes of cargo annually. The airport will have six parallel runways and as many concourses with a 91 metre high control tower that will be an aviation landmark in the Middle East.

Dubai Logistics City (DLC) will be part of the world's first truly integrated multi-modal logistics platform in a single-bonded free zone environment made up of DLC, DWC Aviation City and Jebel Ali Port. It is designed as the region's unchallenged logistics hub catering to some two billion people throughout the Middle East, Indian Sub-continent, Africa and the CIS, all within three-to-four hours flying time from Dubai.

DWC Aviation City will be the region's premier centre of excellence for aviation manufacturing, MRO, aviation support services and consultancy, research and development, training, aviation products and parts and high tech industries. It is a unique concept to establish a complete aviation cluster in one area to cater to the region's aviation growth. It is strategically located to provide clients access to emerging markets as well as servicing the fast growing Middle East market.

DWC Commercial City will be DWC's business and finance hub featuring several hundred high rise towers, ranging from up to 45 storeys in height. The city, expected to employ 150,000 people, will also boast 25 hotels ranging from deluxe, through to five-star, four-star and three-star properties.

DWC Residential City will include a mix of five-ten storey mid-cost apartment blocks. Up to 250,000 people are expected to live in this 'city'. A special staff village will house blue-collar workers within high-quality accommodation.

DWC Golf City will feature several golf courses, extensive practice facilities, driving ranges, putting greens, a luxury clubhouse with restaurants and a pro-shop. Over 5,000 freehold homes will surround the courses. The resort will also feature a high-end boutique hotel.

For more information please contact:
Gladson Ronad
Tel: +9714 390 2960
Fax: +9714 390 8161
Mob: +971 50 4533479

Albert Alba
Tel: +9714 390 2960
Fax: +9714 390 8161
Mob: +971 50 8498642

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