Name: Ritz Carlton DIFC
Location: DIFC
Floors: 15
Height: ?
Use: Hotel

http://207.44.228.232/photopost/data//500/2Ritz_Carlton_DIFC.jpg

Union Properties and The Ritz-Carlton, Hotel Company L.L.C. partner to open a hotel in the center of Dubai's new financial district

The Ritz-Carlton Hotel Company, L.L.C, Chevy Chase, Md. and Union Properties PJSC have announced plans to open a 330-room hotel, with 121 serviced and managed apartments, at the Dubai International Financial Centre (DIFC).

http://www.ameinfo.com/images/news/4/13944-up.jpg
Simon Cooper President and COO OF The Ritz Carlton Hotel company, Mr Fardan bin Ali Al Fardan VICE CHAIRMAN Union properties.
Scheduled to open in 2008, this will be the second Ritz-Carlton in Dubai and the fifth location in the Middle East for the award-winning luxury hotel company.

'We believe the hotel will be a very strategic addition to our global portfolio,' noted Simon F. Cooper, president and chief operating officer of The Ritz-Carlton Hotel Company. 'We have enjoyed great success with our resort on Jumeirah Beach, therefore the opportunity to expand our presence in Dubai and be part of a region of substantial growth is a tremendous opportunity. The Ritz-Carlton, Dubai International Financial Centre will attract senior corporate executives travelling to Dubai to conduct business in the centre, and provide an outstanding meeting site for the international companies that have opened offices and expecting to open offices at the DIFC. Dubai is a vibrant and exciting city, poised on the brink of becoming one of the world's foremost leisure and business destinations, and we feel privileged to play a part in this development.'

Mr. Anis Al Jallaf, Chairman, Union Properties, speaking on the occasion said 'The visions of our leaders seemingly have no boundaries and the Dubai International Financial Centre is yet another example of the foresight of Sheikh Mohamed Bin Rashid Al Maktoum, Crown Prince of Dubai and U.A.E. Defence Minister. Our partnership with The Ritz-Carlton Hotel Company in the development of The Ritz-Carlton, Dubai International Financial Centre, is in sync with that vision. The Ritz-Carlton Hotel Company has established a world class reputation for outstanding service and surroundings, and with our joint venture Dubai can expect a hotel and residences which will be the most prestigious address in the region.'

A soaring contemporary design on Sheikh Zayed Road, The Ritz-Carlton, Dubai International Financial Centre will stand 15 stories high. The interior will blend elements of modern style and classic Arabic design elements for a showplace of luxury and elegance. The 330 guestrooms and suites will include a Ritz-Carlton Suite and Royal Suite with the convenience and comfort suitable to host visiting dignitaries and delegations.

Several floors of the hotel will be dedicated to guests of The Ritz-Carlton Club, which features an extra measure of privacy and amenities for guests. A dedicated concierge will staff The Club Lounge, offering complimentary food and beverage presentations from breakfast to after hours cocktails.

Three restaurants, including specialty dining outlets, will provide a setting to enjoy the cuisine made famous by Ritz-Carlton chefs. A Lobby Lounge and Bar will offer a casual elegance for the enjoyment of afternoon tea and evening cocktails.

Meetings and conference space at The Ritz-Carlton, totaling 2000 square meters will be extensive, and flexible enough to host large gatherings and exclusive social events. The facilities include a 1,400 square meters Ballroom, five meeting rooms, including a boardroom, will be available to accommodate a range of needs and occasions.

Recreational amenities will include a 2100 square meters health club and spa, as well as both indoor and outdoor swimming pools. Serviced apartments will range in size from 125 to 350 square meters and feature one to four bedroom, furnished luxury units. Residents will be able to utilize all services offered by the hotel including housekeeping, catering, concierge, and in- room dining.

added to emporis

enough launches of towers we wanna see some cranes

one of the smaller buildings right handed of the gate i guess?

maybe this is part of the park lane apartments by union properties around the gate
they seem to be about 15 floors as well, at least in the renders!

i wish union properties would publish more info

Dubai gets second Ritz-Carlton property

By Saifur Rahman, Staff Reporter

Dubai:
Dubai-based developers Union Properties is investing Dh1.5 billion in a new hotel and serviced apartment complex to be managed by Ritz-Carlton, company officials said.

A soaring contemporary design on Shaikh Zayed Road, the Ritz-Carlton DIFC will stand 15 storeys high. The interior will blend elements of modern style and classic Arabic design elements. The 330 guestrooms and suites will include a Ritz-Carlton Suite and Royal Suite.

Simon T. Azzam, chief executive of Union Properties, said construction of the complex at the Dubai International Financial City would begin soon. Gensler are the architects of the property, which comprises a 330-room hotel and 121-room serviced apartment complex.

The project is currently in the tendering process. "We expect to award the construction contract next month. The project will be completed by the first quarter of 2008," Azzam said.

This will be the second Ritz-Carlton in Dubai and its fifth location in the Middle East.

Several floors of the hotel will be dedicated to guests of the Ritz-Carlton Club, which provides an extra measure of privacy and amenities for guests.

The hotel will have three restaurants, a lobby lounge and a bar. It will also have meetings and conference space totalling 2,000 square metres, including a ballroom and five meeting rooms.

Recreational amenities will include a health club and spa and indoor and outdoor swimming pools. Serviced apartments will range in size from 125 to 350 square metres and feature one- to four-bedroom, furnished luxury units.

Simon F. Cooper, president and chief operating officer of The Ritz-Carlton Hotel Company, said, "We believe the hotel will be a very strategic addition to our global portfolio. We have enjoyed great success with our resort on Jumeirah Beach, therefore the opportunity to expand our presence in Dubai and be part of a region of substantial growth is a tremendous opportunity."

I have seen renders, maybe in newspapers. It seams that it is the first building, nearerst to Emirates towers and The Gate, just behind Capricorn

then it definitely is part of park lane
but we can't find any info on the web :(

Sorry it's such a small image but here is the only rendering I could find....from the Al Bawaba website.

http://img151.echo.cx/img151/521/8009mbfileea1c74yi.jpg

thanks
this is how the park lane apartments by union properties look like
they surround the gate and the gate precinct

the ritz carlton will have the same design then

so Park Lane Apartments is now The Ritz-Carlton?

not really

park lane apartments is a bunch of 15 floor residential buildings of which one is the ritz

here's another proof it's one of the park lane buildings


Dubai: Ritz-Carlton Hotel Company, Union Properties to open 330-room hotel

The Ritz-Carlton Hotel Company, L.L.C, Chevy Chase, Md. and Union Properties PJSC have announced plans to open a 330-room hotel, with 121 serviced and managed apartments, at the Dubai International Financial Centre (DIFC). Scheduled to open in 2008, this will be the second Ritz-Carlton in Dubai and the fifth location in the Middle East for the award-winning luxury hotel company.

http://manager.albawaba.com/img/new_sys/mediabank/8009_mb_file_ea1c7.jpg

“We believe the hotel will be a very strategic addition to our global portfolio,” noted Simon F. Cooper, president and chief operating officer of The Ritz-Carlton Hotel Company. “We have enjoyed great success with our resort on Jumeirah Beach, therefore the opportunity to expand our presence in Dubai and be part of a region of substantial growth is a tremendous opportunity. The Ritz-Carlton, Dubai International Financial Centre will attract senior corporate executives travelling to Dubai to conduct business in the centre, and provide an outstanding meeting site for the international companies that have opened offices and expecting to open offices at the DIFC. Dubai is a vibrant and exciting city, poised on the brink of becoming one of the world’s foremost leisure and business destinations, and we feel privileged to play a part in this development.”



Mr. Anis Al Jallaf, Chairman, Union Properties, speaking on the occasion said “The visions of our leaders seemingly have no boundaries and the Dubai International Financial Centre is yet another example of the foresight of Sheikh Mohamed Bin Rashid Al Maktoum, Crown Prince of Dubai and U.A.E. Defence Minister. Our partnership with The Ritz-Carlton Hotel Company in the development of The Ritz-Carlton, Dubai International Financial Centre, is in sync with that vision. The Ritz-Carlton Hotel Company has established a world class reputation for outstanding service and surroundings, and with our joint venture Dubai can expect a hotel and residences which will be the most prestigious address in the region.”



A soaring contemporary design on Sheikh Zayed Road, The Ritz-Carlton, Dubai International Financial Centre will stand 15 stories high. The interior will blend elements of modern style and classic Arabic design elements for a showplace of luxury and elegance. The 330 guestrooms and suites will include a Ritz-Carlton Suite and Royal Suite with the convenience and comfort suitable to host visiting dignitaries and delegations.



Several floors of the hotel will be dedicated to guests of The Ritz-Carlton Club, which features an extra measure of privacy and amenities for guests. A dedicated concierge will staff The Club Lounge, offering complimentary food and beverage presentations from breakfast to after hours cocktails.



Three restaurants, including specialty dining outlets, will provide a setting to enjoy the cuisine made famous by Ritz-Carlton chefs. A Lobby Lounge and Bar will offer a casual elegance for the enjoyment of afternoon tea and evening cocktails.



Meetings and conference space at The Ritz-Carlton, totaling 2000 square meters will be extensive, and flexible enough to host large gatherings and exclusive social events. The facilities include a 1,400 square meters Ballroom, five meeting rooms, including a boardroom, will be available to accommodate a range of needs and occasions.



Recreational amenities will include a 2100 square meters health club and spa, as well as both indoor and outdoor swimming pools. Serviced apartments will range in size from 125 to 350 square meters and feature one to four bedroom, furnished luxury units. Residents will be able to utilize all services offered by the hotel including housekeeping, catering, concierge, and in- room dining.

the ritz carlton website has been updated today

http://www.ritzcarlton.com

render uploaded to emporis

http://207.44.228.232/photopost/data//500/2Ritz_Carlton_DIFC.jpg

like this looks very regal will add a good element to DIFC

Preferred locations


Ritz-Carlton broke ground on a second property in Dubai at the end of April. The luxury hotel chain is set to develop a 330-room business property in the heart of the Dubai International Financial Centre (DIFC), an onshore capital market designated as a financial free zone located parallel to Dubai’s Sheikh Zayed Road.

The Ritz-Carlton, DIFC will boast 121 serviced apartments, a selection of restaurants and bars, a speciality restaurant, cigar bar and lobby lounge. The new property, scheduled to open at the end of 2007, will also provide extensive meeting facilities.

“This is quite an exciting project. Obviously in Dubai we have been established for a very long time with a boutique hotel resort. Now we have the best of both worlds. We have a great location on Jumeirah and will have a great location in the financial centre, so I think the two properties will complement each other,” says Marc Dardenne, area vice president, Middle East, The Ritz-Carlton Hotel Company.

“The new hotel will have 330 rooms, in addition there will be 121 serviced apartments. It is quite a complex! The new hotel in DIFC will be quite dramatic. That is our goal, to have the leading business hotel in Dubai,” Dardenne adds.

The new property will be a true business hotel, according to Dardenne, and will complement the company’s existing hotel, The Ritz-Carlton, Dubai. “They are totally different products; one is a resort and one is totally a business hotel. We will look for synergies between the hotels with purchasing and human resources etc. But we will see that at a later stage,” he says.

The new property joins a portfolio of luxury resorts across the Middle East, including a business hotel in Doha and a mixed market hotel in Bahrain, which targets both the leisure and corporate sectors.

Ritz-Carlton is looking to extend its regional reach, and not just in terms of new property development. Dardenne says the region is also a vital outbound market for the company. The Ritz-Carlton, Dubai hosted a delegation of company representatives from Ritz-Carlton hotels in New York, Washington, Barcelona, Singapore and Kuala Lumpur at the end of March, all looking to attract the regional traveller.

“We have recognised the Middle East market as an important market, not only for hotel locations, but also as an outbound market for the company. When the delegation came over we did some sales calls to try and get to the outbound market. So really, as a company, we have realised that the Middle East is important and we want to have a strong presence,” Dardenne stresses.

Further Middle East expansion is still on the cards: Cairo, Kuwait and Oman are all locations under consideration for the chain.

“The preferred location we want to look at is definitely Cairo, especially as we have a hotel in Sharm. Kuwait could also be a location. We did look at Beirut, but it is not our highest priority at the moment because of what is happening. And we did have a project in Oman, which is now dormant, but that could still be a good location,” Dardenne reveals.

“But if you ask where we would like to be as soon as possible it would be Cairo and Kuwait, because they seem like good markets. Cairo would be a mixed hotel, business and leisure, as we would like to have a Nile location.”

A Cairo hotel would see Ritz-Carlton entering the market behind global competitor Four Seasons. The two chains are set to go head to head in Doha now that the Four Seasons Hotel Doha has just opened, and will compete for market share in Dubai when Four Seasons opens at Dubai Festival City in 2006.

“Four Seasons have strong backing, with Prince Al Waleed. This has really helped them in their expansion,” Dardenne admits.

“Clearly Four Seasons is our global competitor, but I always say that I welcome Four Seasons to come into the market. For example, they have just opened in Doha and we are very much aware of what they are planning and what they are going to do. We don’t take it easy, but I welcome Four Seasons to come into the market because in Doha we didn’t really have any comparison. We had one hotel and then all the other hotels were really not anything in comparison to us. Finally we are a player. There was always an issue with the rate, because we were much more expensive. Now we can measure this against the Four Seasons,” Dardenne says.

“With regards to us coming to Cairo, all the big players are in Cairo. Whereas other Four Seasons locations like Damascus and Amman are not high on our priority list.

“We think Four Seasons is a great company and they know what they are doing, they are just different from what we are doing. It is just great to see more high-end players coming into the market.”

In general, Ritz-Carlton has larger sized hotels whereas Four Seasons hotels are smaller, boutique hotels. However, they are still very similar in terms of service, market position and customer profile. And they are both very strong in terms of brand recognition.

“The key to success is to create brand loyalty,” says Dardenne. “That’s why we don’t have loyalty programmes. Other hotels do have rewards programmes, where customer loyalty is basically bought by giving them points. We believe we can get great loyalty by giving great service.

“Guests sometimes choose the location not because of the location, but because there is a Ritz-Carlton there. That is what we want to create. Now, would a Ritz-Carlton guest never stay in a Four Seasons or vice versa? No, I think that can happen,” Dardenne admits.

“Everyone is looking for value for money. At the moment [The Ritz-Carlton, Dubai] is running at an average rate of US $450. That is an average, some guests are paying US $600, US $700, or US $1,000 a night and you have to really create value for them. If they walk away and say ‘This was an expensive stay, but we just loved it and will come back’ then we have achieved what we want to do.

“Our hotels differ only from a physical point of view. The Doha property is pretty colourful, whereas here [Dubai] we have an Arabic touch. What makes it the same is the ladies and gentlemen, the company philosophy. People come and the moment they get in contact with an employee they feel genuinely cared for and they realise ‘Ahh this is The Ritz-Carlton’. The hotel is just a shell, what really makes it a Ritz-Carlton is the ladies and gentlemen.

“You can have a beautiful hotel with gold on the ceiling, but if you don’t get the right people, then it spoils the hotel. I have never received a guest comment card that says ‘I love your marble and I come back here because of your marble in the lobby’. But they all say ‘I had a wonderful experience because of Johnny in the lobby lounge and Patrick in the bar’. They come back because of the service.

“You need to have a certain standard, but what truly makes a difference is the service. Sometimes I see in hotels that are very lavish, the employees feel they are better than the guests. If you go to a hotel and don’t feel you belong there, then that is not right.”

The ladies and gentlemen of The Ritz-Carlton, DIFC will begin welcoming guests to the property at the end of 2007. The hotel will bring in a number of employees from its sister hotels in the region to assist with the pre-opening, and to ensure that the Ritz-Carlton experience remains continuous across the Middle East.

Well the Ritz seems on a roll especially in the Middle East and Asia and here is an interview with the Executive VP. I did post a similart article in the Bahrain section like a week ago or so. Let me add, nice new hotel.


Bob Kharazmi
Senior VP, Ritz-Carlton International

The Ritz-Carlton is in expansion mode in the Middle East and Asia. But this blue-blooded brand is unlikely to grow beyond 80-85 hotels worldwide from only 59 today. Maintaining the highest standards of service culture remains the prime objective.

'We have just come from the opening of our 59th hotel in Jakarta,' says Bob Kharazmi, Senior Vice President of Ritz-Carlton International, the most senior executive outside North America who was visiting Dubai last week for the Arabian Travel Market.

'We have nine hotels under construction or negotiation in Asia: two in Beijing, three more in China, Kowloon in Hong Kong, and Tokyo. Plus we are in negotiations for Bora Bora and Fiji.

'But I would be very surprised if we had more than 80 to 85 hotels in 10 to 15 years time. We just want to have the best properties in the most strategic markets.'

Mr. Kharazmi explains that the 330-room, 121-serviced-apartment, high-rise Dubai International Financial Centre Ritz-Carlton is to be the next addition to the Middle East portfolio. This landmark hotel will also have a 20,000 square foot ballroom.

'We have almost closed a deal for a second hotel in Bahrain,' he says. 'And we are adding 120 more rooms to our Jumeirah Beach property, plus more meeting rooms and completely re-doing the spa; the hotel will be almost double its present size.'

He therefore sees 'good growth in 2005-9' and notes that 'Dubai is an incredibly vibrant market; the average rate has doubled; and there is a shortage of guest room supply.'

Yet how will Ritz-Carlton ensure that the group keeps the high service standards of its 29,000 'Ladies and Gentlemen serving Ladies and Gentlemen' as the company philosophy runs?

'We are confident that our platform fits the majority of cultures around the world, as it is based on mutual respect and involving employees in the decision-making and operation of our hotels,' says Mr. Kharazmi.

'This gold standard culture fits every market. And when somebody joins Ritz-Carlton the first 10 days of training is spent on our principles, philosophy and culture.

'Food and beverage outlets are also very important to us as a connection with the local community, and appointing the right chef is vital to us.'

Elsewhere in the Middle East, Ritz-Carlton's top man is looking for an opportunity in Cairo and also Kuwait, and would also like to have a hotel in Oman. 'The Middle East is a focus for us and we are proud and privileged to be here,' he adds, only breaking off to greet the daughter of the owner of the Ritz-Carlton in Sharm El Sheikh.

Clearly the Ritz-Carlton intends to participate fully in the economic and hotel boom that is enveloping the region. But the commitment to the very highest standards and exclusivity will remain a barrier to overexpansion.

from MEED:

Bouygues/Target JV signs up for DIFC Ritz-Carlton
CONSTRUCTION UAE
20 Jan 2006
The contract is worth an estimated $275 million

A French/local joint venture (JV) of Bouygues Batiment International and Target Engineering Construction Company has begun mobilising on the Ritz-Carlton hotel and apartment project in the Dubai International Financial Centre (DIFC) after winning the estimated $275 million main contract. The client on the three-year contract is the local Union Properties (MEED 12:8:05).

Two other contractors – Saudi Oger and Al-Naboodah Laing O’Rourke – submitted bids last August for the design and build contract, which centres on the construction of a 15-storey hotel and apartment building with three basements of parking. The contract does not include piling which has been carried out under a separate contract.

The development will comprise 340 hotel rooms, 124 serviced apartments and 323 unserviced apartments, ranging in size from one-four bedrooms. In addition, it will include a ballroom, meeting rooms, restaurants and other public facilities.

The project manager on Ritz-Carlton is a JV of the local Edara and APP; the architectural consultant is US-based Gensler & Associates; the structural and mechanical, electrical and plumbing consultant is the UK’s Hyder; and the quantity surveyor is DG Jones, also of the UK.

finally the difc train has left the station

it was time for the project to finally kick off

It took long enough!

I hope the DIFC steps on its development plans now. :D

UP awards Ritz-Carlton main contract

Dubai

Union Properties (UP) has awarded the Dh1 billion ($275 million) main construction contract of the Ritz-Carlton Hotel on Sheikh Zayed Road in Dubai to a French/local joint venture (JV) of Bouygues Batiment International and Target Engineering Construction Company.

The JV has begun mobilising for the hotel and apartment project, which calls for the construction of a 15-storey hotel and apartment building with three basements of parking.
Piling works have been carried out under a separate contract and the hotel is scheduled to open in 2008.
The $410 million development will comprise 340 hotel rooms (Ritz-Carlton Suite and Royal Suite), and 323 unserviced apartments ranging in size from one to four bedrooms. In addition, it will include a 1,400 sq m ballroom, five meeting rooms with a boardroom, restaurants and other public facilities.
Recreational amenities will include a 2,100 sq m health club and spa, as well as both indoor and outdoor swimming pools. 124 serviced apartments will range in size from 125 to 350 sq m and feature one-to-four-bedroom furnished luxury units. Residents will be able to utilise all services offered by the hotel including housekeeping, catering, concierge, and in- room dining.
Gensler Architects and Interior Designer of the US has designed the 15-storey hotel. The interior will blend elements of modern style and classic Arabic design elements for a showplace of luxury and elegance.

http://img.photobucket.com/albums/v730/Greg8000/ritz02.jpg
http://img.photobucket.com/albums/v730/Greg8000/ritz03.jpg

finally some new renders
looking quite massive

wonder what the exact location is

you can see the towers its behind ie al attar business tower aka kandah house is the one in the middle

looks like a luxurious fortress! :)

nice. I like it! :D

There's a huge hole there.

you're right
it's right behind the szr towers

hence the huge hole in difc is for the ritz carlton! :eek:

under construction baby!

Bouygues wins $402m Dubai hotel and metro deals

Paris: Bouygues Construction, part of French conglomerate Bouygues, has won two contracts worth a total of 335 million euros ($402.1 million) in Dubai to build a hotel and metro line, the company said yesterday.

Bouygues's Batiment International unit, in a joint venture with Target Engineering Construction of Abu Dhabi, will build a Ritz-Carlton 5 star hotel for 225 million euros.

The VSL unit, specialised in constructing bridges, will begin building the Red Line suspended metro, which goes through Dubai.

This contract, worth 110 million euros, includes an option to build a second suspended Green Line metro, for an extra 20 million euros, Bouygues Construction said.

Bouygues shares were down 0.4 per cent to 43.73 euros by 1428 GMT.

from todays paper:

http://i2.tinypic.com/vhtclg.jpg

R

so can we change the name now to ritz carlton and Limestone House?

R

R.

R.

huh?

R

eh, RIGHT.


;)

thanx!

R

No problemo ;)

RRR

No problemo ;)

RRR

er...ermm..yeah...

R

The smell of herpes is ripe in the air as the post whores open their legs....

from emirates today:

http://i3.tinypic.com/w8w4xu.jpg

R

cool model. Lets hope they use a unique cladding that will make it look even better. :)

good basement. not so ugly. probably partly underground.

29/04/2006

The Limestone House

http://i3.tinypic.com/wrno5k.jpg


The Ritz Carlton DIFC Hotel

http://i3.tinypic.com/wrnqec.jpg

As you can see the piling is complete.

if only they could be 1.5x - 2x taller

status should be changed to u/c

http://www.up.ae/nr/up/limestone/default.asp

today by Imre

http://i7.tinypic.com/219z8ew.jpg

http://i7.tinypic.com/219z8f4.jpg

http://i7.tinypic.com/219z8k7.jpg

http://i7.tinypic.com/219z8lw.jpg

Imre is everywhere!! :)

Keep up the good work buddy :)

30/07/2006

http://i7.tinypic.com/21ep1uc.jpg

15/09/2006

http://img244.imageshack.us/img244/5422/img3885sb8.jpg (http://imageshack.us)

http://img180.imageshack.us/img180/1806/img3886sx9.jpg (http://imageshack.us)

http://img180.imageshack.us/img180/6418/img3888dv9.jpg (http://imageshack.us)

06.10.2006 By Imre

http://img226.imageshack.us/img226/2801/img4710rw1.jpg (http://imageshack.us)

03/12/2006

http://i11.tinypic.com/2lw95dz.jpg

slow

piling seems to be completed. what is the project in front?

temporary? the board? location seems to be the diamond towers we found on civicart..?

slow

Definitelly.

piling seems to be completed. what is the project in front?

temporary? the board? location seems to be the diamond towers we found on civicart..?

They have started the structure, even gone above ground level, but still the speed is very slow.

There is no project in front. That board is for the this project and if you see the aerea is occupied by TARGET offices who are the local partners for the French company that is building it.

the project board is also for this one=?

http://img257.imageshack.us/img257/3333/asd8eo.jpg

this is NOT a photo...

27.01.2007 By Imre

http://img408.imageshack.us/img408/706/photo032ed2.jpg (http://imageshack.us)

http://img408.imageshack.us/img408/5581/photo033by0.jpg (http://imageshack.us)

01.03.2007

http://img340.imageshack.us/img340/9131/photo26gy8.jpg (http://imageshack.us)

http://img237.imageshack.us/img237/7513/photo27yo0.th.jpg (http://img237.imageshack.us/my.php?image=photo27yo0.jpg)

02.03.2007

http://img413.imageshack.us/img413/5337/photo137tc8.jpg (http://imageshack.us)

04/May/2007

RITZ CARLTON & LIMESTONE HOUSE

http://img143.imageshack.us/img143/7150/imresolt023xw6.jpg (http://imageshack.us)

Ritz-Carlton's new hotel in DIFC to start operations next year

http://www.gulfnews.com/images/07/05/30/31_bs_ritz_4.jpg
The Ritz-Carlton at the DIFC is expected to attract senior corporate executives coming to Dubai on business.

Dubai: The Ritz-Carlton Hotel Company and Union Properties PJSC have announced plans to open a 330-room hotel, with 121 serviced and managed apartments, at the Dubai International Financial Centre (DIFC).

Scheduled to open in 2008, this will be the second Ritz-Carlton in Dubai and the fifth location in the Middle East for the award-winning luxury hotel company.

"We believe the hotel will be a very strategic addition to our global portfolio," noted Simon F. Cooper, president and chief operating officer of The Ritz-Carlton Hotel Company.

"We have enjoyed great success with our resort on Jumeirah beach. Therefore, the opportunity to expand our presence in Dubai and be part of a region of substantial growth is a tremendous opportunity. The new hotel will be an important addition to the DIFC. It will attract senior corporate executives travelling to Dubai to conduct business in this free trade/tax zone, and provide an outstanding meeting site for the international companies expected to open offices in the complex. Dubai is a vibrant and exciting city, poised on the brink of becoming one of the world's foremost leisure and business destinations, and we feel privileged to play a part in this development," Cooper said.

A contemporary design on Shaikh Zayed Road, The Ritz-Carlton in the Dubai International Financial Centre will rise 15 storeys.

Interiors

The interior will blend elements of modern style and classic Arabic design elements for a showplace of luxury and elegance. The 330 guestrooms and suites will include a Ritz-Carlton Suite and Royal Suite with the convenience and comfort suitable to host visiting dignitaries and delegations.

The Ritz-Carlton Hotel Company, LLC currently operates 63 hotels in the Americas, Europe, the Middle East, Asia and Africa.

Among the 33 new hotels currently under development are sites in Dublin, Tokyo, Lake Tahoe, and the Bahamas.

I cant see many of the pics!!! :(

22/June/2007

RITZ CARLTON & LIMESTONE HOUSE

http://img514.imageshack.us/img514/3783/imresolt130aa3.jpg (http://imageshack.us)

27/July/2007

RITZ CARLTON & LIMESTONE HOUSE

http://img518.imageshack.us/img518/6708/imresolt056fm9.jpg (http://imageshack.us)

As a regular business traveller I am really looking forward to staying at this hotel I must say. :) When the DIFC is completed it will be ideally located in the middle of everything. Thanks for the regular image updates Imre.

24/Aug/2007

RITZ CARLTON & LIMESTONE HOUSE

http://img249.imageshack.us/img249/5162/imresolt147sd5.jpg (http://imageshack.us)

http://img503.imageshack.us/img503/9048/imresolt138tw9.jpg (http://imageshack.us)

I cannot understand the lack of interest in the DIFC. Claren Tower at the Burj Dubai has just been launched at prices comparable to the DIFC. The Limestone House is stunning! This is going to be a very exclusive and upmarket area.

true!! and this building is a BEAST! its bigger than the index in the fact that it is wider! it is really daunghting when it gets finished!

it's just that i fear that this hotel will not have great views

first of all it's not tall enough to surpass surrounding buildings
secondly, guests will look against the car park buildings of szr's towers

it's just that i fear that this hotel will not have great views

first of all it's not tall enough to surpass surrounding buildings
secondly, guests will look against the car park buildings of szr's towers

well, the hotel is good looking and the guest wont bother looking outdoors :lol:

it's just that i fear that this hotel will not have great views

first of all it's not tall enough to surpass surrounding buildings
secondly, guests will look against the car park buildings of szr's towers

^^
The more expensive apartments look the other way - the view would be of leafy courtyards and boulevards. Also the signature lighthouse building with the wind turbines overlooks this. The place would have an amazing ambiance

14/September/2007

RITZ CARLTON & LIMESTONE HOUSE

http://img408.imageshack.us/img408/5388/imresolt035mb7.jpg (http://imageshack.us)

http://img204.imageshack.us/img204/7448/imresolt036lj4.jpg (http://imageshack.us)

Union Properties has held off further sales of the apartments in the Limestone house. Apparently a review of the prices is under progress. Expect this area to benefit further due the recently announced association of the Difx with Nasdaq.

Union Properties has held off further sales of the apartments in the Limestone house. Apparently a review of the prices is under progress. Expect this area to benefit further due the recently announced association of the Difx with Nasdaq.


In orde to tweak the prices up or down because sales were slow?

Sales reoepened - prices increased by 30%.

18/October/2007

http://img89.imageshack.us/img89/4586/imresolt024hh6.jpg (http://imageshack.us)

28/December/2007

RITZ CARLTON & LIMESTONE HOUSE

http://img168.imageshack.us/img168/6513/imresolt052ir0.jpg (http://imageshack.us)

http://img256.imageshack.us/img256/7531/imresolt053ob1.jpg (http://imageshack.us)

I might be completely off but isnt the DIFC supposed to be moving to BB, if not then what will the center piece area of the BB have?

The DIFC is staying where it currectly is: adjacent to Sheikh Zayed Road. Business Bay will have the Burj Al Alam, the Signature Towers and other architectural wonders.

^^ Would be quite a project to move DIFC at this stage... :P

Limestone House - Construction Update


Limestone House concreting is up to level 8, there is a total of 15 levels (15 Floors), Internal Builders works have commenced in typical floor levels, Limestone and the aluminum façade works will commence in September 2007 and the expected completion of concrete structure works is 31 December 2007.


http://up.ae/uploadedImages/Property_Portfolio/Limestone_House/Construction_Update/oct-pic2.jpg
http://up.ae/uploadedImages/Property_Portfolio/Limestone_House/Construction_Update/oct-pic3.jpg
http://up.ae/uploadedImages/Property_Portfolio/Limestone_House/Construction_Update/oct-pic1.jpg

http://up.ae/uploadedImages/Property_Portfolio/Limestone_House/Photo_Gallery/pic3.jpg
http://up.ae/uploadedImages/Property_Portfolio/Limestone_House/Photo_Gallery/pic1.jpg
http://up.ae/uploadedImages/Property_Portfolio/Limestone_House/Photo_Gallery/pic6.jpg
http://up.ae/uploadedImages/Property_Portfolio/Limestone_House/Photo_Gallery/pic9.jpg
http://up.ae/uploadedImages/Property_Portfolio/Limestone_House/Photo_Gallery/pic7.jpg
http://up.ae/uploadedImages/Property_Portfolio/Limestone_House/Photo_Gallery/pic8.jpg



"
(shower head lol)

23/February/2008

RITZ CARLTON & LIMESTONE HOUSE

http://img213.imageshack.us/img213/9315/imresolt15nk0.jpg (http://imageshack.us)

http://img530.imageshack.us/img530/733/imresolt16ok1.jpg (http://imageshack.us)

finish finish finish

Great progress,i think it will top out soon, the regular floors are built so they have only to add the roof......

Good progress for sure. Behind schedule though, it was supposed to be topped up by the end of 2007. Handover is expected by the end of this year, but that seems optimistic.

07/March/2008

RITZ CARLTON & LIMESTONE HOUSE

http://img518.imageshack.us/img518/2644/imresolt032dy2.jpg (http://imageshack.us)

http://www.estatesdubai.com/uploaded_images/limestone-house-784113.jpg

There is not a single resale listing for the Limestone House in all the 4 freehold sections of the Gulf News! Isn't that wierd? The building is virtually topped out and considering that the developer has more than doubled the prices from the initial launch prices, you would think that some owners would want to flip their units.

There is not a single resale listing for the Limestone House in all the 4 freehold sections of the Gulf News! Isn't that wierd? The building is virtually topped out and considering that the developer has more than doubled the prices from the initial launch prices, you would think that some owners would want to flip their units.

There are 2 units in the freehold section of Gulf news for sale, most days. They are in there for 3,200 - 3,400 Dhs psf.

I saw a 2 bed of 1583 sq foot listed for Dhs 8 M. Doesn't seem unrealistic @ Dhs 5000 psf considering what top end residential now costs in the Burj Dubai area.

well it is right behind a stock exchange, and a major financial center, and is near major transport links, and i can tell you, IS best built (materials etc), and in the vicinity of shopping and the tallest buuilding. I would pay up to 10 mil for that !

all true but 1 thing is missing... a major (operational) financial center...
still love both this and Index and would say best offering in DIFC.

still 8M is crazy btw

May 30th, by Imre

http://farm3.static.flickr.com/2140/2540807768_233b9611ce_o.jpg

http://farm3.static.flickr.com/2419/2539987043_4de01af5a6.jpg?v=0

http://farm3.static.flickr.com/2279/2539982905_595dff452d.jpg?v=0

Opening in 2009 according to Ritz Carlton homepage:)

Finally some realistic opening date.

very good one. i pass at it yesteray

^^
no official communication from the developer but I was told a 4th quarter 2008 handover when I bought. Personally, I think it will be more like mid 2009. Not sure what is happening with the retail spine. The Marina Mall is now being finished, as the rest of the Dubai Marina is complete - and I suspect the retail spine might suffer a similar fate.

http://up.ae/uploadedImages/Property_Portfolio/Limestone_House/Construction_Update/Jul-08-pic7.jpg


http://up.ae/uploadedImages/Property_Portfolio/Limestone_House/Construction_Update/Jul-08-pic3.jpg

http://up.ae/uploadedImages/Property_Portfolio/Limestone_House/Construction_Update/Jul-08-pic4.jpg

http://up.ae/uploadedImages/Property_Portfolio/Limestone_House/Construction_Update/Jul-08-pic5.jpg

i wish the Burj Dubai developer website would take some pics of the burj dubai, nice find bizzybonita

July 18th, Imre

http://farm4.static.flickr.com/3111/2681123545_e6540d4fb6_o.jpg

http://farm4.static.flickr.com/3252/2681123671_4522ba72ee_o.jpg

I came across a picture of the Ritz in Montreal - incredible how similar it looks to the one under construction at the difc. Not sure if the one in Canada has Limestone cladding though.

Yes, I see the resemblance.

http://www.roadandtravel.com/hotelsresorts/images/ritzcarltonmontreal_2.jpg

http://img517.imageshack.us/img517/7056/helicoptertour01nov0812ed4.jpg (http://imageshack.us)
http://img517.imageshack.us/img517/helicoptertour01nov0812ed4.jpg/1/w1600.png (http://g.imageshack.us/img517/helicoptertour01nov0812ed4.jpg/1/)

http://farm4.static.flickr.com/3184/3066713381_59a2375e97_o.jpg

http://farm4.static.flickr.com/3065/3067553092_a58407effd_o.jpg

Anyone has the pictues from inside the building?>

09/January/2009

RITZ CARLTON & LIMESTONE HOUSE

http://img514.imageshack.us/img514/3672/imresolt160hd5.jpg (http://imageshack.us)

http://img522.imageshack.us/img522/8746/imresolt175id5.jpg (http://imageshack.us)

when is hand over date ?

^^

Received email from UP:

The expected delivery date for Limestone House units is beginning of July 2009.

^^ that would be nice..opus how much was your original price?

Prompt Payment Incentive
DIFC/MotorCity Developments

We would like to offer you the chance to avail of a Prompt Payment Incentive with a view to saving 10% off the remaining balance due on your unit.

If you choose to settle the balance due on or before the 15th February 2009 we will reduce the amount due by 10% as an incentive for early settlement. This limited offer is available during the time frame given above and to all Buyers that have paid all their installments on their units, and are pending handover for the following developments:

· Index
· Limestone House
· Green Community Motorcity
· Uptown Motorcity
· The Control Tower

We request that you email us on info@up.ae to confirm your wish to avail of the Prompt Payment Incentive in order for us to prepare the necessary paperwork.

During the period of this campaign we would like to confirm that our Head Office will be open from 8.00am to 5.00pm, 7 days a week.

Should you have any queries in this regard you can email us on the above mentioned email, or directly call us on (04) 8062 161.

For and on behalf of
Union Properties PJSC

Jan 09 Construction Update


Current Status of the Limestone House project:

* Concrete works are complete.
* MEP works are substantially completed in the typical levels and near to completion in the public areas.
* Internal civil finishes like joinery, sanitary ware fixing, etc.. are getting completed in each level with remarkable progress.
* Limestone and aluminum facade works are 95% complete.
* External granite cladding to ground floor is substantially completed.
* Soft landscaping works is in progress.

http://www.up.ae/uploadedImages/Property_Portfolio/Limestone_House/Construction_Update/LH-01-09-zoom1.jpg

http://www.up.ae/uploadedImages/Property_Portfolio/Limestone_House/Construction_Update/jan09-LHS4.jpg

http://static.worldarchitecturenews.com/news_images/2016_2_Ritz2.jpg

http://static.worldarchitecturenews.com/news_images/2016_5_Ritz5.jpg

20/February/2009

RITZ CARLTON & LIMESTONE HOUSE

http://img9.imageshack.us/img9/4921/imresolt049jj6.jpg (http://imageshack.us)

http://img201.imageshack.us/img201/5319/imresolt067hd7.jpg (http://imageshack.us)

I noticed driving along the Sheikh Zayed Road that the scaffolding had been removed on that end too. September handover seems likely.

Good ! Finally one ! :okay:

Good news .

04/04

http://i41.tinypic.com/e188ko.jpg

10/April/2009

RITZ CARLTON & LIMESTONE HOUSE

http://i42.tinypic.com/2j31mxx.jpg

http://i44.tinypic.com/4sxyf9.jpg

http://i42.tinypic.com/nyxwqq.jpg

http://www.up.ae/site/content.aspx?id=3330&hdr=2928&sc=1610&sl=3314

classic style.... amazing!
fits perfect for DIFC area

Interiors ....


1 Bedroom

http://up.ae/uploadedImages/Property_Portfolio/Limestone_House/Photo_Gallery/oneBed-pic1.jpg

http://up.ae/uploadedImages/Property_Portfolio/Limestone_House/Photo_Gallery/oneBed-pic2.jpg

http://up.ae/uploadedImages/Property_Portfolio/Limestone_House/Photo_Gallery/oneBed-pic3.jpg

http://up.ae/uploadedImages/Property_Portfolio/Limestone_House/Photo_Gallery/oneBed-pic4.jpg

2 Bedroom

http://up.ae/uploadedImages/Property_Portfolio/Limestone_House/Photo_Gallery/ThreeBed-pic1.jpg

http://up.ae/uploadedImages/Property_Portfolio/Limestone_House/Photo_Gallery/ThreeBed-pic2.jpg

http://up.ae/uploadedImages/Property_Portfolio/Limestone_House/Photo_Gallery/ThreeBed-pic3.jpg

http://up.ae/uploadedImages/Property_Portfolio/Limestone_House/Photo_Gallery/ThreeBed-pic4.jpg

http://up.ae/uploadedImages/Property_Portfolio/Limestone_House/Photo_Gallery/ThreeBed-pic5.jpg

The bathroom sinks are so six years ago.

what"s going on here? it looks finished. what happened to the Ritz Carlton?

The Ritz banner is up on the front entrance of the hotel. Saw it yesterday.

^^ And the banners of the contractors are still on top of the building. But anyway it's obvious that furnishing a hotel takes longer.

The building looks like one you'd find in London. Very Nice!

warm greetings from Bahrain.

Handover delayed to the end of the year. And even that is not gauranteed, based on the letter received from UP today. :ohno:

Not a bad thing perhaps considering how unfinished the DIFC is at present.

http://www.business24-7.ae/Articles/2009/6/Pages/15062009/06162009_79767dde1ee346fab28d334367455390.aspx#
Union Properties has pushed back the completion date of Limestone House and Ritz Carlton Hotel at Dubai International Financial Centre to year-end, citing restricted assistance from banks, Emirates Business has learnt.

In a letter e-mailed to investors, the Dubai-listed developer said: "The overall effect of the financial crisis and difficulties facing Union Properties and those involved in the completion of our developments has resulted in a delay in the original anticipated completion date. Taking all things into consideration today, the expected completion date of Limestone House is now revised to the end of 2009. Moreover, at this stage we cannot guarantee this date, this is just our best estimate based on the present stage of completed works and the information we are getting from those involved.

"The position also affects the opening of the Ritz Carlton Hotel, which has also been delayed, which is most disappointing. This too is now expected around the end of the year."

According to realtors, Limestone House was set for completion by May 2009.

According to Ritz Carlton website, the hotel will have 341 guestrooms and suites including two Ritz-Carlton Suites, 124 serviced apartments, a signature Thai fine-dining restaurant, a French brasserie, a steakhouse and a lobby lounge. According to its website, the hotel will be opening in early 2010.

Union Properties did not reply to questions e-mailed by this newspaper.

According to the company, "Union Properties has suffered from restricted assistance from banks as they are freezing the release of funds making cash flow critical. At the same time, the contractors, suppliers and consultants involved in the construction of our developments are suffering themselves and this is affecting their progress."

Additionally, the developer said: "We understand that this will come as a disappointment to many, as we ourselves are unhappy with the present situation. However, we feel it very necessary to be as open as we can at this stage. Obviously, it is in interests of both of us to complete this iconic building and handover your units at the earlier possible opportunity."

In February, Union Properties Chief Marketing Officer Michael Jackson said MotorCity, Index and Limestone House were due to be completed and delivered in 2009 as scheduled, with the company not planning to announce any new projects under the current market situation. The then chief executive officer Simon E Azzam had told this newspaper in March that the developer was looking to approach the government for financial assistance. Azzam resigned on Sunday.

"We would love to be part of the support fund. Although we have not approached the government directly, I am of the view that loans need to be given directly to the industry, mainly to publicly-listed real estate companies, which are more transparent and adhere to regulations," he had said.

Union Properties is 49 per cent owned by Emirates NBD, , which is 56 per cent owned by the government. Its shares closed at Dh1.2, down 6.3 per cent yesterday.

Interiors are glamour factor about 3.5. Could have done better somehow.

http://www.up.ae/uploadedImages/Property_Portfolio/Limestone_House/Construction_Update/LH-May09-Pic4.jpg

http://www.up.ae/uploadedImages/Property_Portfolio/Limestone_House/Construction_Update/LH-May09-Pic2.jpg

http://www.up.ae/uploadedImages/Property_Portfolio/Limestone_House/Construction_Update/LH-May09-Pic3.jpg

http://www.up.ae/uploadedImages/Property_Portfolio/Limestone_House/Construction_Update/LH-May09-Pic1.jpg

Do you thick this can be moved into the completed section now?
Or wait until it handed over at the end of the year?

structure done but the board and the fence still there

24/July/2009

Ritz Carlton and Limestone House

http://i28.tinypic.com/rsu629.jpg

Dubai Doubles Up On Ritz-Carltons In 2010

Where: Sheikh Zayed Road, Dubai (http://www.hotelchatter.com/hotels/city/ae/Dubai), United Arab Emirates (http://www.hotelchatter.com/browse/Africa%20And%20Middle%20East/ae)

http://i28.tinypic.com/6pnpn9.jpg

September 1, 2009 at 1:11 PM

No surprise here: Dubai is getting yet another hotel, already under construction for a 2010 opening. However, this is no gimmicky property with the Middle East's biggest wave pool or a helicopter tennis court; it's actually a classy Ritz-Carlton (http://www.hotelchatter.com/tag/ritz-carlton%20hotels), the second for Dubai.

Due to abut the Dubai International Financial Centre, the property will be a consummate luxury business traveler hotel, but thankfully with world-class restaurants and a spa to boot.

We're also going to guess that it'll be a popular spot for company-owned apartments, considering how the 341-room hotel will feature 124 serviced residences. Just watch out for the waterfall as you're walking across the street to work; the Ritz-Carlton's only Dubai-ish feature will be a 10-story waterfall off the side of the building.

While there's no word yet on starting room rates, we'd consider staying here over a cheaper Dubai hotel since this spot will have its own technology butler, and considering how we're blogging this very post, you can understand how fast WiFi and an abundance of gadget goodies are important to us.

http://www.hotelchatter.com/story/2009/9/1/123215/1813/hotels/Dubai_Doubles_Up_On_Ritz_Carltons_In_2010

looks done

03/November/2009

Rosewood Dubai and Ritz Carlton/Limestone House

http://i35.tinypic.com/119s4k6.jpg

^^
Anticipated handover date 2nd quarter of 2010.

Union Properties states price for Ritz Carlton

Prospective buyer would have to fork out approximately Dh1.5b for luxury hotel

* Reuters
* Published: 00:00 February 2, 2010

http://i45.tinypic.com/aopbae.jpg
* Union Properties has put a Dh1.5-billion price tag on the Ritz Carlton hotel at the Dubai International Financial Centre.

* Image Credit: Supplied

Dubai: Dubai's Union Properties said Monday its luxury Ritz Carlton hotel could be sold for a sum close to Dh1.5 billion.

"It could be sold for a price very close to this number," the emirate's third-largest developer by market value said in a statement on Dubai's bourse website.

The firm issued the statement correcting an article published by a local newspaper which said the hotel would be sold for a price very close to Dh1.5 billion.

Union Properties general manager Khalid Al Jarwan declined to comment whether the hotel would be sold.

"It is a wealthy asset and a high-end hotel," he said.

"If there is any requirement for sale, it will be close to the amount mentioned. If it materialises it will take care of a lot of the company's expenses."

In January, Credit Suisse slashed its price target for the stock to Dh0.03 from Dh0.80 and said that even if Union Properties were to overcome its liquidity squeeze, there would not be much equity value left after meeting its debt obligations.

Union's chairman Khalid Bin Kalban said in January that the firm's Dh6.5-billion debt position, which it was due to begin paying back in 2010, is now due in 2011.

The firm said in its statement yesterday that it has 5,000 units that will be transferred to its rental portfolio, which will be worth Dh500 million a year.

The Ritz Carlton hotel, located in the Dubai International Financial Centre, will be handed over to investors in May, Kalban said last month.

The 15-storey hotel will be the second Ritz Carlton hotel in Dubai.

The firm's shares were up 2 per cent at Dh0.5 a share at 0751 GMT.

http://gulfnews.com/business/property/union-properties-states-price-for-ritz-carlton-1.577135

I heard from someone that serious investors offered them about AED 750 million for the hotel but they are holding out for the AED 1.5 billion. In the meantime they are still apparently out of money and not handing over the building. It's infuriating.

I heard from someone that serious investors offered them about AED 750 million for the hotel but they are holding out for the AED 1.5 billion. In the meantime they are still apparently out of money and not handing over the building. It's infuriating.

They will have to hold out for a very long time.

The progress over the last few months has been amazing. They must have dug up the cash from somewhere.

I am doing my site visit on Sunday, ahead of the formal orientation and desnagging visit which won't happen until the handover is imminent.

However 2nd quarter seems bullish and am now expecting this to happen by September.

http://i49.tinypic.com/v5a4d0.jpg


For more images of Ritz Carlton Click Here (http://www.skyscraperlist.com/forum/showthread.php?75)
Forgot I took some images here last weekend

Debt-laden real estate developer Union Properties has initiated talks with two foreign investors for the sale of its luxury Ritz Carlton Hotel, the Emirates Business paper said, citing an industry source.

Earlier in February, Union Properties said several investors were interested in its luxury Ritz Carlton hotel, which it could sell if offered around $400 million.

The two foreign investors are from the Unites States and Qatar, the paper said.

The source told the newspaper that negotiations are in initial stages and both the parties have expressed their willingness to buy the property which is expected to be operational by the second half of the year.

The source did not comment on the price at which the deal may happen, the paper said.

The company reported a loss of 148 million dirhams ($40.30 million) in the fourth quarter hurt by provisions for contracting and property valuation.

http://www.arabianbusiness.com/583382-dubais-union-properties-in-talks-on-ritz-sale---paper

3g9hRQmxFCQ

Panos click here (http://www.skyscraperlist.com/forum/showthread.php?79)

^^ Thanks for the video Sale. The building gives a great feel to the city.

Hi All,

I am an investor in Limestone house and unhappy with the way UP is treating it's investors. I would like to hear from any investor interested in joining a class action for compensation from UP for the unacceptable delays and the validity of their early payment scheme offered during Jan/Feb 2009.

Please send me a private message with you contact info and apartment number.

Regards


David

Nice hotel but i thought Ritz-Carlton would do a super tall skyscraper to get amazing views.

Just received this email from UP:

The Sales & Purchase Agreement for Limestone House™ is ready, should you wish to proceed with signing the SPA kindly advice so that I can arrange to keep it ready in advance. Kindly find attached a draft copy of the SPA for your review.

Expected handover date is 30th of September 2010 (as per the SPA), apartment orientation site visits are expected to be conducted in June – July and all the clients will be notified 10 days prior to this visit where all the snagging remarks will be registered and rectified by the contractor on site prior to handover.

I was at the DIFC site today and noticed that the Lighthouse tower hole has been almost completely filled in. Does anyone know if there are any plans to beautify the area facing the project, otherwise can't imagine who'd want to stay at the Ritz. I know noone cares a damn for us owners, but I can't see the Ritz operating in these circumstances.

Just received this email from UP:

The Sales & Purchase Agreement for Limestone House™ is ready, should you wish to proceed with signing the SPA kindly advice so that I can arrange to keep it ready in advance. Kindly find attached a draft copy of the SPA for your review.

Expected handover date is 30th of September 2010 (as per the SPA), apartment orientation site visits are expected to be conducted in June – July and all the clients will be notified 10 days prior to this visit where all the snagging remarks will be registered and rectified by the contractor on site prior to handover.
CAN U SHARE SOME DETAILS OF YOUR SPA on the project. please contact me on ppd13@rediffmail.com

Dubai’s Union Properties Nears Ritz-Carlton Sale to Fund Towers
2010-06-08 20:00:01.0 GMT


By Zainab Fattah
June 9 (Bloomberg) -- Union Properties PJSC is close to
selling its Ritz-Carlton hotel in Dubai and plans to dispose of
other assets after the developer “got distracted” during the
property boom and took on projects and businesses that were a
poor fit, its chairman said.
The company “got involved in so many businesses that were
not core,” said Khalid Bin Kalban, who took over when Chief
Executive Officer Simon Azzam resigned a year ago after 23 years
in charge. “I don’t understand the rationale.”
Union Properties, Dubai’s third-largest developer, halted
projects after credit dried up in the financial crisis and an
increasing number of customers defaulted. In 2009, the company
reported its first full-year loss and suspended work on F1-X, a
Formula One theme park in the MotorCity development at the Dubai
Autodrome race track.
“MotorCity was created around the concept of having a
superior race arena and many people would question the wisdom of
getting involved in that,” Bin Kalban, 52, said in an
interview. “The company got involved and it wasn’t a core
business.”
The chairman said he’s in discussions with seven potential
buyers for the Ritz Carlton in the Dubai International Financial
Center and is “very close to concluding a deal” that may
include cash and the assumption of debt tied to the project. In
the past two months, Union Properties sold a building in the Umm
Suqeim neighborhood for more than 140 million dirhams ($38
million) to supermarket operator Spinneys, he said.
Proceeds from planned asset sales will go toward completing
its Index project in July and Limestone House in August. The
Ritz Carlton will open in September if it hasn’t been sold by
then, the chairman said.

Index, Limestone

The developer is looking to bring in partners to complete
F1-X, the chairman said. Union Properties will first finish the
80-story Index, an office and residential tower, and the
Limestone House apartment building in the DIFC and then turn to
projects that are 70 percent to 75 percent complete. It also
plans to finish the Renaissance hotel and the Marriott Courtyard
in MotorCity, Bin Kalban said.
Union Properties has about 1 billion dirhams of liabilities
due this year. Bin Kalban said he expects to collect about half
of that amount from property buyers in 2010 and 2011 after
renegotiating repayment terms with defaulters.
Unlike many Dubai developers, Union Properties wasn’t born
out of the city’s property boom. The company was founded in 1987
and first sold shares to the public in 1993. Azzam stepped down
in June 2009 without naming a replacement. That put the company
in the hands of Bin Kalban, a former United Arab Emirates
Central Bank official who also holds the title of CEO at Dubai
Investments PJSC.

Old Neighborhoods

Union Properties holds assets in some of the oldest and
most popular parts of Dubai such as Jumeirah, Al Satwa and Al
wasal which are almost 100 percent occupied and have held their
value better than other parts of the city, Bin Kalban said.
The chairman plans to sell some of those older assets
because market prices are “better than what we have on the
books” and managing small, scattered housing compounds is
costly and time-consuming.
Divisions such as Emirates District Cooling LLC, known as
Emicool, Property Investments & Development, Electro-Mechanical
Contracting, or Thermo, should also be sold, Bin Kalban said.
“This is where Union Properties got distracted,” he
said. “Everybody was following the model that whatever you get
into, you will make money.” The developer’s main business has
“nothing to do with Emicool and any other facility or
contracting activity.”

‘Liquidity Issues’

Selling the units “may take some time because of the
liquidity issues,” he said.
The company scrapped plans to expand in Asia and Europe
after projects stalled in its home market. Bin Kalban blamed a
“mismatch” of funding, which was largely based on sales of
uncompleted properties.
Union Properties has fallen 47 percent in Dubai trading
this year, cutting its market value to 1.22 billion dirhams. The
June 7 closing price of 36.6 fils compares with 5.15 dirhams at
the peak on July 24, 2008.
Bin Kalban said the company will be able to settle around
600 million dirhams of liabilities against halted projects.
Contractors are owed no more than 200 million dirhams, he added.
The company, which last year reported a loss of 498 million
dirhams, is counting on the tourism industry to help it weather
the crisis. Union Properties plans to create a legal entity to
better manage and grow its hospitality business. It owns five
hotels in Dubai, including the Courtyard Marriot, Marriot
Executive Apartments and the Renaissance Hotel.
“There is a jam in the system and money isn’t
circulating,” the chairman said.

Just received this email from UP:

The Sales & Purchase Agreement for Limestone House™ is ready, should you wish to proceed with signing the SPA kindly advice so that I can arrange to keep it ready in advance. Kindly find attached a draft copy of the SPA for your review.

Expected handover date is 30th of September 2010 (as per the SPA), apartment orientation site visits are expected to be conducted in June – July and all the clients will be notified 10 days prior to this visit where all the snagging remarks will be registered and rectified by the contractor on site prior to handover.

The SPA allows this date (30/09/10) to be moved by 12 months and then further into the future if needed by UP. The SPA, if signed removes any rights you have for compensation due to the delays, size of apartment and anything misleading in the sales process or marketing material. You are also agreeing to pay all charges on your unit and for up keep of the common areas without a price being mentioned. I have only got to page 19 out of 37 but it seems to be normal Dubai as it is totally one sided for UP and the DIFC Auth.

Status?

Structurally DONE , I don't know about the rest !

Done!

Maybe you could take a new picture ! thx

Done!

That's what I thought - was expecting the pre handover inspection but have been told by UP to now expect handover by the end of the year.

http://www.thenational.ae/apps/pbcs.dll/article?AID=/20100725/BUSINESS/707259914/1005

Union Properties, Dubai’s third-largest property developer, missed its asking price of Dh1.5 billion (US$408.3 million) in the sale of the Ritz-Carlton, which is to be sealed this week, its chairman says.

The sale is part of the company’s plans to offload assetsand raise cash to pay debts and finish projects.

Khalid bin Kalban said the terms of the deal were still being “exchanged” with a buyer from the UAE, with an official announcement expected this week.

Union “almost” got its asking price for the hotel, which is located at Dubai International Financial Centre (DIFC), he said, but declined to name the buyer or provide any further details.

The investor from the UAE was in the running with a company from Saudi Arabia.

Union Properties, which will use some of the proceeds to complete projects such as the multibillion-dollar Motor City in Dubai, originally attracted about seven parties who were interested in the luxury hotel, which is expected to open by the end of the year.

Simon Cooper, the president and chief operating officer of Ritz-Carlton Hotels and Resorts, told The Nationalin May the company’s management contract would not be affected by a sale of the Dubai property.

Occupancy levels at the emirate’s hotels reached 79 per cent during the first three months of this year, a rise of 7.8 per cent from the same period last year.

As the emirate’s property sector boomed, Union Properties bankrolled master developments such as the Green Community and Motor City, which was to comprise hundreds of homes, offices and a Formula One theme park.

But a debt market freeze towards the end of 2008 and a sharp decline in house projects has left many developers struggling to attain funds to complete projects, forcing them to sell off assets. Union Properties said in February it had Dh14bn worth of sellable assets.

The company, which is 47.69 per cent owned by Emirates NBD, accumulated Dh6.5bn of debt during the boom, of which Dh2.8bn has been rolled over for repayment to next year from last.

“If the transaction [with the Ritz-Carlton] happens it will help cashflow, but will suit the debtholders rather than the shareholders,” said Yazan Abdeen, a fund manager at ING Investment Management.

Union Properties also borrowed about Dh1bn from Emirates NBD towards the end of last year to finance the completion of the Ritz-Carlton and two other projects at DIFC – Index tower and Limestone House.

“I think it’s a shame that they had to go through the process of selling the Ritz-Carlton because it is a trophy asset and one that will certainly do well in the DIFC,” said Chet Riley, an analyst with Nomura.

“But it’s a requirement that they finish and sell it for funds. Part of the proceeds, I suspect, will go towards repaying the working capital facility that Emirates NBD gave them. Then it comes down to what portion will be put back into the existing development programme and what’s going to be available for general corporate purposes.”

Other assets which Union Properties may sell include two Marriott Executive Apartment blocks, one in Deira and the other in the Green Community, Mr bin Kalban told The National in April.

It is also looking to sell a 50 per cent share in Emicool, its district-cooling unit.

Meanwhile, the delivery of property and rental income from its portfolio of villas and apartments are expected to buoy profits for the rest of the year.

The company said at the end of last year it would transfer 5,000 units, divided equally between residential and commercial, to its rental portfolio, which could provide revenue of up to Dh500 million a year.

For the first quarter of this year, Union Properties’s profit climbed 67 per cent from the same period last year thanks to the handover of property.

The return to profit followed losses last year totalling Dh498m.

Earnings for the second quarter of this year are expected to be reported next week, Mr bin Kalban said.

Union Properties agreed to sell the Ritz-Carlton hotel development in Dubai for less than the asking price of AED1.5bn ($410m), chairman Khalid Bin Kalban said.

By Bloomberg | Aug 26, 2010

http://www.hoteliermiddleeast.com/pictures/gallery/Stock/310x213/handshake.jpg
Union Properties has agreed to sell Ritz-Carlton DIFC.

Dubai’s third-biggest developer by market value plans to sign the sale agreement in the next 10 days, bin Kalban said by phone on Thursday. He declined to identify the buyer of the hotel, located within the Dubai International Financial Centre, or disclose terms of the deal until the contract is signed.

“Everything has been agreed, all that remains is the drafting of contracts,” bin Kalban said.

Proceeds from the sale will help Union complete other projects such as the Limestone House apartment building and the 80-storey Index skyscraper in the DIFC, a tax-free business park that houses hundreds of companies.

Union Properties halted development work after credit dried up in the financial crisis and more customers defaulted. In 2009, the company reported its first full-year loss and suspended work on F1-X, a Formula One theme park in the MotorCity development at the Dubai Autodrome race track.

The developer’s second-quarter loss widened to AED349 million from AED228 million a year earlier because of provisions for falling real estate values, according to a statement to the Dubai exchange on August 12.

http://www.hoteliermiddleeast.com/9342-union-properties-agrees-to-sell-ritz-carlton-difc/

I think that whoever bought it got a good deal! That $410m for a prime luxury property. Very nice building too!

http://static.worldarchitecturenews.com/news_images/2016_1_Ritz1.jpg

So , shell we move it to complete section ...

No, not fully completed yet

i hope it is not a signal paper coming from other road stick on side of cladding as double protective :D ...make us out of nerve :lol:

BTW,Thanks for update :cheers:

Finally Limestone is connected to the rest of DIFC by foot!! :banana:

http://i52.tinypic.com/mkxitv.jpg

http://i55.tinypic.com/34pkw10.jpg

That is an old article - goes back to July. They were supposed to announce the buyer last week. Does anyone have an update on when the handover is?

http://www.emirates247.com/news/emirates/legal-issues-delaying-sale-of-ritz-carlton-2010-10-04-1.298965

Legal complexities are delaying Union Properties from closing its sale deal for Ritz Carlton hotel in Dubai International Financial Centre (DIFC), the company chairman told Emirates 24|7.

“Although we have reached an agreement with an investor on the price, certain legal issues are now delaying completion of the deal,” Khalid bin Kalban said in a telephone interview.

http://vimeo.com/16305775

I would suggest that you should watch this in Full Screen.:)

Thankyou - this film made my day.

The hotel may well open in Jan, but the snagging of the apartments will drag on until the end of the year, and therefore unlikely to be handed over before Feb.

Deal is finally done after all legal issues resolved

By Parag Deulgaonkar | Published Monday, November 08, 2010

http://www.emirates247.com/polopoly_fs/1.314862.1289196691!/image/2696926429.jpg
Ritz Carlton hotel in Dubai International Financial Centre. (SUPPLIED)

Union Properties has sold the Ritz Carlton hotel in Dubai International Financial Centre (DIFC) for Dh1.1 billion, the company said on Monday.

"The hotel was sold for Dh1.1bn. The proceeds generated from the transaction will be directed toward reducing our company's overall debt position and completing few remaining assets at our flagship development, the MotorCity," UP General Manager Khalid Al Jarwan said in a statement.

Emirates 24|7 broke the news earlier this morning that Union Properties had completed the sale of the hotel. The developer had set a target price of Dh1.5bn.

The Ritz Carlton Hotel, designed by world-renowned architects Gensler, is located adjacent to the Gate Precinct within the Gate Boulevard at the Dubai International Financial Centre (DIFC) and is connected to UP's Limestone house development. The hotel has 341 guest rooms and suites and 124 executive serviced apartments ranging from one- to four-bedroom. The hotel encompasses a total of 2,000 square metres of meeting and conference space, in addition to a 1,400 sqm Grand ballroom, meeting rooms and business centre.

In October, this website had reported that legal complexities were delaying sale deal for the hotel. "Although we have reached an agreement with an investor on the price, certain legal issues are now delaying completion of the deal," company Chairman Khalid bin Kalban had said.

In August, Union Properties said its second-quarter loss widened to Dh349.38 million from Dh227.95m a year ago. The loss was mainly because the company wrote down the value of property amid falling real-estate prices in Dubai.

The developer has already halted development work on some of its projects including the $460m F1-X, a Formula One theme park in the MotorCity development, following the global financial crisis.

Emirates 24|7 (http://www.emirates247.com/news/ritz-carlton-at-the-difc-sold-for-dh1-1bn-2010-11-08-1.314858)

Ritz Carlton is taking bookings from 01/01/11. http://www.ritzcarlton.com/en/Properties/DubaiIfc/Default.htm

http://i56.tinypic.com/2s1u7ut.jpg

Nov 9, 2010

The Ritz-Carlton Hotel Company’s long-awaited hotel at Dubai International Financial Centre will open before the year end, its general manager has confirmed.

The Ritz-Carlton, Dubai International Financial Centre general manager Lothar Quarz said: “We are excited to welcome our first guests to The Ritz-Carlton, Dubai International Financial Centre by the end of December 2010.

“Our guests can expect to receive the finest personal service and facilities in a warm relaxed yet refined ambience which The Ritz-Carlton is known for around the world,” he added.

The hotel features 341 rooms and 124 executive suites and is directly linked to DIFC.

Ritz-Carlton area vice president Europe, Middle East and Africa Pascal Duchauffour said: “You will be able to come to the hotel in air conditioned surroundings and it’s really going to be key in order to be convenient to our clients based in DIFC”.

The hotel will also offer a range of meeting and conference facilities and a very large ballroom.

Dubai's Union Properties finalised the sale of the hotel for AED1.1bn ($299.6m) and will use the money to reduce debt and complete remaining projects.

http://www.hoteliermiddleeast.com/9934-long-awaited-ritz-carlton-difc-to-open-in-december/

http://www.emirates247.com/property/real-estate/going-once-going-twice-greens-flat-for-dh1m-on-auction-today-2010-11-10-1.315853

A 1094 sqft apartment in the Greens will be the first property to go under hammer today at the Dubai Land Department. In a public auction notice, published in an English daily, the property to be auctioned is located in the Greens, Emirates Hills Second, Al Dhafrah3, with the property value set at Dh1 million.

Union Properties asks owners to settle outstanding payments, if any, before handover date

Parag Deulgaonkar

Monday, November 22, 2010

http://www.emirates247.com/polopoly_fs/1.319747.1290413706!/image/2397326187.jpg
In late October, Union Properties started sending letters to owners for orientation and inspection visit following which owners are being send handover letters. (SUPPLIED)

Union Properties, Dubai-based real estate developer, will finally commence handover of units in Limestone House in Dubai International Financial Centre (DIFC) from mid-December.

In an e-mailed letter to owners, the developer said apartments were ready for handover with owners requested to settle all outstanding payments against the apartment, if any, before the handover date.

There was, however, no mention of the amount of service charge, which the company said was still being calculated.

“Upon finalising the calculation of the service charges budget, we will be communicating the amounts of the provisional service charge to all owners, which will be paid via current and post-dated cheques on a quarterly basis until end of 2011 on handover date,” the letter added.

In late October, Union Properties started sending letters to owners for orientation and inspection visit following which owners are being send handover letters.

This website, reported in July, that handover of units in its Limestone House was pushed back to end of September from the previously stated June-July handover. Realtors have said that the project was set for completion by May 2009.

According to the company, Limestone House will offer complete concierge facilities to the health and wellness offerings, including an indoor lap pool, modern fitness centre, Jacuzzi plus separate male and female changing facilities with steam rooms in each. To ensure the utmost privacy and personalised entry for the “apartments” residence, there will be exclusive lift access serving a limited number of apartments with secured parking entry and access control to operate the designated elevator to the resident’s home.

Union Properties, earlier this month, sold its Ritz Carlton hotel in DIFC for Dh1.1 billion. It reported a third quarter net loss of Dh451.8 million compared to Dh152.3 million in the same period a year ago as losses on property valuation went up significantly.

The company has net current liabilities of Dh811m, which includes short-term bank borrowings amounting to Dh325m and the current portion of long-term bank loan amounting to Dh1.17 billion.

http://www.emirates247.com/property/real-estate/limestone-units-handover-next-month-2010-11-22-1.319746

just read Limestone House handover article... i am waiting to take the handover and stay there. But no mention of service charges.

Done, please take it to the complete section ! Thx a lot

Launch packages now available at luxury property; hotel is among several new openings in Dubai

By Keith Fernandez | Published Monday, December 06, 2010

The Ritz-Carlton will open its second hotel in Dubai in January and has rolled out a range of opening deals.

After months of delay and rumours around its opening date, the Ritz-Carlton Dubai Financial Centre is accepting reservations for arrivals on January 12, 2011 and beyond, Vivienne Gan, Regional Director of Public Relations, Middle East, Ritz-Carlton, told Emirates 24|7.

Former owners Union Properties finalised the sale of the property for Dh1.1 billion last month.

The property is one of several new hotels opening their doors to clients at the moment, including One & Only The Palm, which opened in November, and Jumeirah's Zabeel Saray, believed to be opening this month. And Australian chain Staywell has just opened the Park Regis Kris Kin opposite BurJuman Centre, with rates on its website advertised from Dh389.

Three packages are available to book on the Ritz-Carlton DIFC’s website, beginning with a City Reconnect deal beginning at Dh950. Weekend bed and breakfast deals start at Dh1,110. Both are valid through to August 31.

The hotel features 341 guestrooms and suites and several fine dining restaurants, including the Thai Blue Rain, a French brasserie and a steakhouse.

Emirates 24|7 (http://www.emirates247.com/news/emirates/january-opening-for-ritz-carlton-difc-2010-12-06-1.325688)

Emirates 24|7 (http://www.emirates247.com/news/emirates/january-opening-for-ritz-carlton-difc-2010-12-06-1.325688)

This is now complete. People started moving in earlier this week. I have my handover notice for early Jan.

This is now complete. People started moving in earlier this week. I have my handover notice for early Jan.

Good news indeed. Fantastic location I must say. :cheers:

just read Limestone House handover article... i am waiting to take the handover and stay there. But no mention of service charges.

^^
Service charges for the first year work out to Dhs 29 psf. I don't know if that includes cooling.

Service fee of Dhs 30 psf includes a Dhs 5 psf charge for DIFC, and Dhs 10 psf for cooling charge (inclusive of capacity charge as well as usage). Pretty good I would say.

Posted a link of the facebook page of a small tour of what the DIFC ritz carlton has instore

Ritz Carlton Facebook Page (http://www.facebook.com/video/video.php?v=481868343588&oid=74638360984&comments&ref=mf)

Dear All,

I currently have a few rental enquiries for tenants looking to rent in Limestone House. If any landlords would be interested in registering their property for rent here please do contact me.

PM me for more information and to discuss further.

Regards,

http://www.facebook.com/video/video.php?v=481868343588

Structurally DONE , I don't know about the rest !

Done!

That's what I thought - was expecting the pre handover inspection but have been told by UP to now expect handover by the end of the year.

Sleepy Mods ! :wave:

Sleepy Mods ! :wave:

Definitely done. Had lunch at the Can Can at the Ritz today. And people have already moved into the Limestone House. :)

^^ How was the food and service?

Expensive, I would presume ;)

http://i53.tinypic.com/2mqp18n.jpg
Ritz-Carlton DIFC EAM - F&B Antony McNeil.

March 21, 2011

The newly-opened Ritz-Carlton in the heart of Dubai’s financial district has launched express lunch options in all three of its restaurants in order to attract the local corporate clientele.

Ritz-Carlton Dubai International Financial Centre (DIFC) offers express lunch options in Thai restaurant Blue Rain, French bistro Can Can and steakhouse Center Cut, which introduced its lunch at AED 105 for two courses yesterday (March 20).

The hotel’s EAM — food and beverage Antony McNeil said that neighbouring DIFC provided the restaurants’ customer base.

“The main audience would be DIFC; there are 15,000 to 18,000 people working on a daily basis at DIFC. Being financial, they are well travelled, they know their markets, they know price points and they know what they like. So it’s very simple for us to define the marketing programme and how we want to attract those guests into the hotel,” said McNeil.

He explained that the hotel had experienced demand for the lunch options.

“We had a lot of demand to open Blue Rain for lunch from DIFC clients; there’s no Thai restaurant in DIFC,” said McNeil.

It’s very much a destination for lunch diners. The lunch is an express option that comes as a bento lunch or you can go a la carte.

“Lunch had 25 covers on the first day and costs AED 85 for three courses on your plate, you can eat at your own speed,” he added.

http://www.hoteliermiddleeast.com/10817-new-dubai-ritz-carlton-seeks-to-entice-difc-diners/