2006
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Cityscape opens today
Cityscape Dubai 2006 opens today at the Dubai International Exhibition Centre and runs until Wednesday, December 6. The event now covers 555,000 sqft and incorporates more than 500 exhibitors from 55 countries. In all, over 35,000 visitors are expected to attend the show.
Limitless unveils Russian project
Dubai World subsidiary Limitless has unveiled details of the Great Domodedovo project, its first project in Russia, which is being undertaken with Russian investment and development company, Coalco. Spread over an 18,000 hectare site in the Moscow area, Great Domodedovo will include residential, commercial and employment units as well as educational, recreational and entertainment facilities. Work will begin immediately on the $11bn first phase, with construction commencing in 2007.
SG Holdings, Western City
SG Capital, SG Developments, SG Programme Management and SG Shared Service Centre have all been brought under the umbrella of SG Holdings. The holding company will take control of around $1.9bn worth of developments. SG Holdings will also today unveil its first project in the form of a mixed us theme park at Dubailand called Western City and costing nearly $600m.
Ascorp eyes AD compounds
Ascorp Holdings aims to build 25 housing compounds for workers in Abu Dhabi and Al Ain over the next eight years, according to Khalfan Saeed Al Ka'abi, the firm's chairman and cited by Gulf News. Al Ka'abi revealed $2.2bn was presently being invested in five compounds in the two cities. Demand for compounds has jumped in Abu Dhabi following the introduction of legislation forcing employers to provide accommodation for workers.
Tatweer teams up with Tiger
Tiger Woods is designing a signature golf course at Dubailand, in a project with Dubai Holding subsidiary Tatweer. Called Al Ruwaya, the 7,700 yard, par 72 course will be part of "The Tiger Woods - Dubai" golf community that includes a hotel, 300 luxury villas and 20 mansions. The 25.3m sqft development is set for completion in late 2009.
BB creek dredging ends 2007
Dredging of Dubai Creek, which is being extended to Business Bay, will be completed by mid 2007, according to Dubai Properties. Hashim Al Dabal, the firm's CEO, also revealed that infrastructure facilities including roads and bridges for Business Bay will be completed by the end of 2008. Al Dabal was speaking at the ground breaking ceremony for The Prism, a $136.2m commercial development by Credo Investments.
Bay Central at Dubai Marina
Dubai Select has launched the $408m Bay Central project in Dubai Marina. In conjunction with Barclays Bank and Emaar Properties, purchasers at Bay Central will receive full protection of their funds throughout the construction period via an escrow account. The project combines residential property with serviced apartments and a 55 storey five star hotel; the project is due for completion by September 2009.
Saraya Islands details unveiled
Ras Al Khaimah's Investment and Development Office, Saraya Holdings and the Arab Bank have revelaed the details behind the $1.5bn Saraya Islands project in Ras Al Khaimah. The project will occupy Julfar Island and will cover an area of over 10m sqft. The project's master plan includes the development of four islands: al Boum, al Marsa, al Sahab and al Wahat, in addition to the mainland Saraya Village centre.
DCC launches Abdali developments
The Dubai Contracting Company is to unveil two new construction projects in Amman's Abdali district at this week's Cityscape event. The 666,000 sqft Vertex Tower and Residences will cost $128m and will consist of a 34 storey tower and two seven storey podiums. Commerce One, a 145,000 sqft office development, will cost $19.9m and will contain six storeys.
Tilal Al Khuwair for Muscat
The Al Madina Real Estate Company is to launch a mixed use development in Muscat at this week's Cityscape event in Dubai. The Australian designed Tilal Al Khuwair project features the 610,000 sqft Muscat Grand Mall, offices, apartments as well as a health club. The $26m Tilal Fund was launched in the summer to fund the development.
Not enough office space in Dubai
Demand for office space in Dubai will outstrip supply in 2007, according to Tamweel CEO Adel Al Shirawi and cited by Gulf News. Research carried out by the home financing firm has revealed demand will jump by 5.7m sqft next year. Al Shirawi added that, due to many developments focusing on residential needs, not enough commercial projects will come on stream next year to meet the hike.
Al Massaleh, BB tower
Kuwait's Al Massaleh Real Estate is to showcase its first project in the UAE at the upcoming Cityscape exhibition, a 30 storey office complex. Each level in the office tower will offer 12,000 sqft of space, while there will also be four levels of parking. The tower will be located at Dubai's Business Bay, near to the Burj Dubai.
Dubai Prop, Cityscape plans
Dubai Properties will have two stands at Cityscape in order to showcase its various projects, including Business Bay, Culture Village and Jumeirah Beach Residence. The firm will also provide visitors with a preview of the properties available for the December 6 Mazad auction, which will feature residential and commercial units, as well as plots, in Business Bay and Culture Village.
Emaar ready for Cityscape
Emaar Properties will feature around $60bn worth of projects at Cityscape this week. The property developer, a platinum sponsor of the event, will have an 8,250 sqft stand, a quarter of which will be set aside for highlighting the King Abdullah Economic City in Saudi Arabia.
Mizin predicts $408m plot sales
Real estate development company Mizin has forecast plot sales of $408m during Cityscape, taking place this week at the Dubai International Convention and Exhibition Centre. The firm, which was launched in July, will be participating at the event, in hall one, stand IC10.
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