Dheeraj, East Coast JV launches over AED 300 million project - D.E.C Towers - in Dubai Marina

Unveiling the maiden project of the new joint venture, Dheeraj & East Coast L.L.C, senior representatives of the company said the project which will comprise a 25 and 21-storey two-tower residential component and an L-shaped three-storey complex in front of it with commercial space on the ground floor was a strategic initiative to tap the growing potential for both residential and commercial freehold space in Dubai.

Commenting on the project, Mr. Dheeraj Wadhawan, Director of Dheeraj & East Coast L.L.C., said: "For Dheeraj Group, this is the very first project outside India and marks a significant strategic overseas expansion. We are confident that D.E.C. Towers will be well received by home buyers thanks to our competitive rates and the location of Dubai Marina, which is a preferred destination for home-buyers."

"We are proud to join hands with the East Coast Group of the UAE and we are confident of our continued success combining the expertise of Dheeraj Group and the local market knowledge of East Coast Group, to offer best-of-the-breed projects to home buyers," he said.

Dheeraj Group, established in 1978, is a renowned real estate developer with an array of world-class projects in its portfolio in several cities in India including the commercial capital of the country, Mumbai. It is reputed for across-the board expertise in real estate development and has developed over 100 residential, commercial and industrial buildings in Mumbai alone.

The East Coast Group is a UAE-based business group owned by UAE nationals. The group was established in the 70s with East Coast Contracting and Trading as a construction company. While concentrating on construction, building materials, the group has diversified interests and investments in different businesses.

Mr. Dheeraj said the joint venture is now looking at more investments to develop blue-chip projects in Dubai and the region and it will be soon announcing plans for Business Bay and Dubailand.

Announcing the details of D.E.C Towers, Mr. Dheeraj said the project will offer studio, one, two and three-bed room apartments to buyers at a special introductory price for the next two weeks. "The project will have all modern amenities and comforts offering world-class facilities in an elegant ambience. It will overlook the marina and will offer excellent to the home owners. The project will have facilities like two-level car park, Business Centre, Day Care Centre and a host of other modern amenities."

The price for studio apartments ranging from 650-700 square feet will be AED685 a square feet while the rates for one and two-bed room apartments will be in the range of AED705 to 725 per square feet. The area of one bed room apartments will range from 900 to 1,000 square feet while two-bed room apartments will have an area of approximately 1,725 square feet. Rates for three-bed room apartments with an area ranging from 3200 to 3500 square feet will be AED735 per square feet. The project delivery will be in the first quarter of 2007.

"We have taken care to provide every single amenity that is required for today's city living. D.E.C. Towers offers breathtaking marina and coast views and have easy access to beach fronts, gardens, cafes, shops and boulevards," Mr. Dheeraj said.

The facilities of D.E.C Towers also include Olympic size swimming pool, health club, tennis court, squash court, outdoor jogging tracks, billiards room, CCTV monitoring in public places, retail space for shops, boutiques and restaurants.