Mazaya and First Dubai For Real Estate Development sign deal with Arabtec at Cityscape

The deal was signed during Cityscape 2005, the international property investment and development event being held in Dubai.

Top officials from the companies signed the agreement appointing Arabtec as the main contactor for Sky Gardens, the first high-rise residential project at the DIFC. Sky Gardens is approximately a half Billion Dirham development of the First Dubai For Real Estate Development company managed by Al Mazaya.

First Dubai For Real Estate Development is a Kuwaiti Shareholding company working in the field of real estate development, in sales, purchase and ownership of land as well as the development both inside and outside of Kuwait.

Al-Mazaya has been appointed to manage the development from the design stage up to the construction, project management and marketing of the Sky Gardens.

"The partnership is an important collaboration between two companies that share the same passion and commitment to delivering superior quality to valued investors. We are confident that with Arabtec, Sky Gardens would become one of Dubai's iconic projects in reinventing the way residential projects are made," said Mr. Khaled Esbaitah, Mazaya's CEO.

Located at a prime position in DIFC and well appointed on an app. 6,000 sq.m. land area, Sky Gardens is a fully residential 47-story tower with around 575 studios, one, two and three bedroom apartments and penthouses. The project is scheduled to be completed in 2007.

The layout, specifications and finishes of every Sky Garden unit boasts of the same high standards and attention to detail of the overall architecture. The interiors reflect the innovative nature of the exterior while the expansive views capture the exciting scenery of Dubai's urban skyline.

Sky Gardens reinvents living and redefines Dubai with its five exquisite gardens punctuating the ascending floors, each with their own distinct character, lighting, design and planting.