Armada Towers, Salam Towers projects evince keen buyer interest at Cityscape 2005

The Middle East's premier international property investment and development event has attracted a record 300 exhibitors from 51 cities around the world. The three-day event at the Dubai World Trade Centre (DWTC) closed on Monday September 19, 2005.

Dr. Mohammed Raheef Hakmi, Chairman, Armada Group, "Potential buyers were interested in the project because of the company's sophisticated construction and luxurious amenities the Armada Towers and the Salam Towers will ultimately offer. The enquiries from varied sources, regional and international, will result in substantial business for the Armada Group. Some major deals could be closed in the near term."

The three Armada Towers, once completed, will house 1,200 apartments and occupy a space of 1,600,000 square feet. It will have 21,000 square feet of external and 15,000 square feet of internal retail space, and will also house 12 luxurious penthouses, four in each tower. The project comprises residential area, an office block, shopping area, restaurants, health club and other amenities. Construction is going on at a quick pace on this project which is expected to be completed in 28 months.

The 210-meter high 57-storied Salam Tower in Sharjah is coming up in an area of 800,000 square feet. Total investment for construction alone totals AED 170 million. The Salam Tower will have 284 lavish flats, including 12 penthouse suites, magnificently situated overlooking the Al Khan lakes.

Other amenities in the Salam Tower include a five-storey covered parking and a ground floor meeting room equipped with the most modern audio-visual facilities. The mezzanine will house numerous office spaces. There will also be an entire floor for a state of the art health club, with nursery and dedicated male and female swimming pools.

The company also has AED25-million Armada Headquarters project under construction currently at Dubai Internet City (DIC). This will be ready next year. It recently opened an office in Warrington, UK to oversee its projects abroad.

"Expectations are high on the new federal property law to be announced in the next few weeks. Dubai's plan to clear doubts about the 'freehold' and 'leasehold' property status has also helped in creating a better environment in which buyers could feel comfortable to decide on their purchase," remarked Dr. Mohammed Raheef Hakmi.

The construction of the Armada Towers project has been awarded to CSHK Dubai Contracting (LLC), a Group member of China State Construction Engineering (Hong Kong) Ltd. The company has completed more than 500 high quality and technically complicated projects over several years. The parent company of CSHK is renowned for its mega-size projects of multi-disciplinary nature.