http://img120.imageshack.us/img120/7261/abyazz3.jpg

A major Kuwaiti real estate developer, backed by one of the country’s most powerful investment groups – Aayan Leasing and Investment Company and Al Rashdan Group which has extensive real estate experience - has entered the UAE market with plans to invest up to US $1.4 billion in Dubai over the coming year.

Abyaar Real Estate Development says its Dubai projects will impact the emirate’s residential, commercial, hospitality and retail segments and will be phased in over the coming 12 months. First off the anvil for the company’s Dubai operations are two upscale service apartment projects at the exclusive Dubai Marina.

Abyaar has invested over US $150 million in the luxury serviced apartment towers Pier 24 and Pier 8 and is in final negotiations to have the facilities managed by a first-class brand of Rezidor SAS Hospitality – the fast-growing, Brussels-based hospitality company.
Inspired by Abyaar’s literal Arabic meaning - a ‘well’ - the source of water, the company’s vision is to develop stylish and contemporary destinations that enhance lifestyles.

“Our mission is building excellence and to bring international real estate opportunities to global investors that deliver incomparable value to our stakeholders,” said Hisham Al Obaid, Chairman, Abyaar Real Estate Development.

“Our projects will bring the very highest hospitality standards to the Middle East real estate sector and Abyaar’s portfolio will be an impressive collection of exclusive, finely designed, freehold initiatives which will eventually be rolled out across the GCC and Europe.

“Pier 24 and Pier 8 will be the first of several projects to be rolled out by the company in Dubai this year. Other projects on the drawing board will further demonstrate our commitment to the UAE market and our belief in its long-term investment potential.”

Investing in compliance with Shariah law, Abyaar will build mixed use projects with innovative architecture and interiors.
“The UAE property market is one of the most buoyant sectors in the region and the research shows that nearly a quarter of Dubai’s GDP is generated through real estate,” said Marzooq Al Rashdan, Managing Director, Abyaar Real Estate Development.

“We are targeting a very niche market, investors who appreciate class and quality. Designed by the finest architects, all of our five star serviced apartments will be furnished with the best in contemporary Italian décor and the latest in technology that will ensure our clients live in understated elegance.”

The 20-storey Pier 24 will be operated under Rezidor’s Radisson SAS brand. It will house 153 luxury apartments ranging from studio, one bedroom and two bedrooms. The management contract for the 40-storey Pier 8 is nearing finalisation. Pier 8 will feature 234 apartments including studios, one bedroom and two-bedroom flats as well as three townhouses and two penthouses.

“Pier 24 will set new regional living benchmarks in terms of size and exclusivity and beyond further strengthening the Radisson SAS brand, this partnership with Abyaar also sets the standard for future similar projects,” said Jean-Marc Busato, Vice President Middle East, Rezidor SAS Hospitality.

“Our strategy is to ensure that all our new properties have very distinctive and individual identities and one of the main advantages of this luxury residence is guaranteed five-star service all year round. Radisson SAS Residence, Pier 24 will be among the UAE’s most sought after address.”

Both properties will feature state-of-the-art facilities including separate gymnasiums and swimming pools for men and women, children’s play area, retail outlets as well as restaurants and cafes. There will also be secure underground parking.

Abyaar’s drive for quality led to the appointment of award-winning architects, KEO International as designers of Radisson SAS Residence, Pier 24. KEO is behind some of the region’s most prestigious hospitality and mixed-use developments including: The Pearl – Qatar, the US $2.5 billion island being reclaimed offshore the Qatari capital, Doha and Abu Dhabi’s Emirates Palace Hotel. Consultant design for Pier 8 is being undertaken by WS Atkins, which delivered consultancy for Dubai’s signature Burj Al Arab and Jumeirah Beach Hotel projects.
The interiors of both properties will be conceptualised by Milan’s Matteo Nunziati, who has designed some of the most prestigious hotels in Italy and Switzerland.

“The interiors’ inspiration has been taken from large Egyptian monumental buildings and traditional Arabic architecture – delivering a modernistic approach with reference to the past. By using light, design and contrasting textures, I want to offer distinct living spaces unlike any currently available in this market,” said Nunziati.

“We wanted to develop the Abyaar product with a philosophy of quality as its foundation. By choosing Nunziati as our designer and key Italian furnishers Poliform and Salvarani, we are delivering the creativity of an influential designer with total quality management and acute attention to top interior finishes,” added Al Rashdan.

Pier 24 is expected to be completed in the summer of next year and Pier 8 will ready in June 2008.

Pier 24 to be completed summer next year.. :bash:

there is no way, again, it will be end 2007 EARLIEST!

design looks good, i like the basement.

Great, a new one!! Colour looks awesome!!!

Wonder where it is.
Looks like right on marina edge and is that a bridge I see to the right?

Love this tower, has a nice base aswell. The only thing though is that the tower's facing the wrong way imo

most of the towers face the water this side, i would assume these are Emaar regulations, so that second row towers get a kinda view as well.

I'm just talking about the design, it looks like it should face the other way

:eek2:

Absolute Cutting edge!!!

design is really awesome

not sure, but i think i heard radisson will manage this one as well

Do we know where it will be? Could it be between Timeplace and MVT? (on the render you can see the bridge in the background) ... Just a thought

Josau

I think that site is a bit small for another tower.

Don't know, I saw a sign up there for a 35 story tower and in the site map there are three towers.

Really!!

That new to me i thought they were not building next to TP

Really!!

That new to me i thought they were not building next to TP
There WILLL be something between Timeplace and Marina View, which greatly influenced me in the choice of my flat in Marina View. Eventually lots of the flats in Tower A will have a very direct "neighbour".

http://www.tp.spt.fi/~jukarkil/uae/marina/marina_d020.gif
Look at this mission

However if it will be Pier 8 is just speculation looking at the render and based on no info from my side.

they are still negotiating about the contractor.

Picture from flickr of the first bridge over the Marina. Looking at the fence to the right with "Abyaar" on it could suggest that this is the site of Pier 8?!?
The location makes sense when you look at the render.

http://i9.tinypic.com/42mgdw0.jpg

^^ So it seams to be on the other side of Marina.

yup, this definitely is the plot
nice to already have its location

23/09/2006

Pier 8

http://img103.imageshack.us/img103/6855/img3993lm3.jpg (http://imageshack.us)

http://img154.imageshack.us/img154/4669/img3994de1.jpg (http://imageshack.us)

http://img105.imageshack.us/img105/9483/img3995uw3.jpg (http://imageshack.us)

http://img146.imageshack.us/img146/933/img3996bn9.jpg (http://imageshack.us)

http://img105.imageshack.us/img105/4480/img3998kf3.jpg (http://imageshack.us)

http://img166.imageshack.us/img166/7269/img3999vn0.jpg (http://imageshack.us)

A stunner! And with the JBR behind it it'll make it stand out even more, just like the al fattan twins

Could some please post the website or contact number for the developer. I like this building and like to buy an apartment.

Saturday, 16 September 2006
MESC wins Pier job as Abyaar moves in
by Angela Giuffrida


Modern Executive Systems Contracting has won the main contract to build one of two serviced apartments tower blocks in Dubai Marina.

The company will build Pier 24, which is one of two towers being developed by Kuwait-based Abyaar Real Estate Development, while the M&E package has gone to Ahmed Ramadan Juma.

The main contractor for the second tower, Pier 8, will be announced within the next month, while Atkins has been appointed consultant and Arabian Forasol, part of Al Ghurain Group, is undertaking the piling work.

Abyaar Real Estate Development, backed by investment companies Aayan Leasing and Investment Company and Al Rashdan Group, is spending US $150 million (AED550 million) on the project as part of a $1.4 billion investment package in Dubai over the coming year.

The 20-storey Pier 24, which has been designed by KEO International, will be operated under Rezidor’s Radisson SAS brand. The management contract for the 40-storey Pier 8 is nearing finalisation.

“Our projects will bring the very highest hospitality standards to the Middle East real estate sector and Abyaar’s portfolio will be an impressive collection of exclusive, finely designed, freehold initiatives which will eventually be rolled out across the GCC and Europe,” said Hisham Al Obaid, chairman, Abyaar Real Estate Development.

“Pier 24 and Pier 8 will be the first of several projects to be launched by the company in Dubai this year. Other projects on the drawing board will further demonstrate our commitment to the UAE market and our belief in its long-term investment potential.”

Pier 24 is expected to be completed in the summer of 2007 and Pier 8 is due to be ready in June 2008.

Posted weeks ago in the Dubai Marina (project) thread:

http://img160.imageshack.us/img160/4894/wasad4.jpg

Atkins’ Pier 8 in Dubai starts taking shape

Work has started on site for the new Atkins-designed residential ‘Pier 8’ development which, when complete, will form a prominent landmark at the Dubai Marina, the city’s major new cosmopolitan waterfront development. The 40-storey, 170 metre-tall tower comprises a mix of studio, one- and two-bedroom serviced apartments which will be managed by Radisson. The 48,000 sq m development will also contain a rooftop ladies gym, spa and health club, while retail areas, cafés and restaurants are situated along the waterfront. The building’s contemporary design is matched by a strong use of sustainability principle. Commissioned by Abyaar Real Estate Investment, Pier 8 is due for completion in June 2008.

http://img521.imageshack.us/img521/5471/566385atkinspier8dubaipa2.jpg

What a fantastic tower and a brillitiant loctation..... how do I buy one ??? Who's the deveoper and do they have a website ??? :) :) :)

^^ Finally, a render with a realistic true-to-life background! Wow! What a first for Dubai!

Looks good!

^^ Finally, a render with a realistic true-to-life background! Wow! What a first for Dubai!


true-to-life enuff if u wanna believe the space between this tower and jbr is enuff to fit a soccer pitch

^^ ??

at least 100m, so yes.

render looks amazing, the basement is stunning.

true-to-life enuff if u wanna believe the space between this tower and jbr is enuff to fit a soccer pitch
Now ur just being pedantic.

Well, at least it's better than photoshopping grosvenor house out of a render

Abyaar awards USD 260 million contract for Dubai Marina development

Abyaar Real Estate, the Kuwaiti luxury developer that surged on to the local property scene last year with a USD 1.4 billion investment plan, has named Dubai's Modern Executive Systems Contracting (MESC), as the main works contractor for its USD 150 million Dubai Marina towers Pier 24 and Pier 8.

http://www.ameinfo.com/images/news/9/34759-marzoo.jpg
Marzooq Al Rashdan, Managing Director, Abyaar.

The contract, worth $US 260 million was awarded to MESC because of its expertise in delivering multi-service construction works across the region.

Work on the first tower - the exclusive Radisson SAS operated Pier 24, which is due to be completed in the Summer of this year - is well ahead of schedule with the 20 storey, 90 metre tower already reaching floor 15.

Explains Marzooq Al Rashdan, Managing Director, Abyaar; 'As a company we will deliver on what we promise, with work on the project starting last summer, four months before we first launched in Dubai, we can be confident of meeting the exacting standards and timelines that we set for ourselves.'

The key is in the detail says Al Rashdan. 'Many people talk about quality, but for us true quality speaks for itself and that is why we have used the top international interior design brands in Europe. With our show apartment ready in March, people can experience the level of finishes for themselves.'

Working in partnership with world class design and management services company KEO International Consultants - which is behind projects such as The Pearl - Qatar and the capital's Emirates Palace Hotel - the company's vision is to develop stylish and contemporary destinations that enhance lifestyles.

Abyaar's commitment to excellence is borne though its team of specialists as the interiors of both properties will be conceptualised by Milan's award winning Matteo Nunziati, who has brought an elite group to the project.

Superior craftsmanship, quality materials and innovative design solutions symbolise the work of lighting specialists FontanaArte, door specialists Lualdi Porte, and furniture specialists Poliform and FEG to ensure that the towers will be amongst the most sought out addresses in Dubai.

Abyaar has also tasked Zebian Aluminium - one of the region's leading fabricators - to supply all glazing and aluminium products for Pier 24. Sharjah based Zebian's previous projects include Al Noor Tower, the emirate's tallest building at 42 storeys and Dubai's five star Move-N-Pick Hotel.

Consultant design for the 40 storey, Pier 8 - which is due to be completed by the end of 2008 - is being undertaken by WS Atkins, which delivered consultancy for Dubai's signature Burj Al Arab and Jumeirah Beach Hotel projects.

26/01/2007

Pier 8

http://img218.imageshack.us/img218/3487/photo130gl3.jpg (http://imageshack.us)

work seems to be in full swing... I have my doubts though if this entire plot is only for one tower

http://www.atkins-me.com/imgGrab2.aspx?id=88

23.02.2007

http://img85.imageshack.us/img85/6862/photo020fy0.jpg (http://imageshack.us)

http://img120.imageshack.us/img120/4530/photo021kx1.th.jpg (http://img120.imageshack.us/my.php?image=photo021kx1.jpg)http://img291.imageshack.us/img291/9409/photo022rt4.th.jpg (http://img291.imageshack.us/my.php?image=photo022rt4.jpg)

09.03.2007

http://img90.imageshack.us/img90/4203/photo155dv3.jpg (http://imageshack.us)

http://img81.imageshack.us/img81/5535/photo156bf6.th.jpg (http://img81.imageshack.us/my.php?image=photo156bf6.jpg)

13/April/2007

Pier 8

http://img185.imageshack.us/img185/9971/photo154bq8.jpg (http://imageshack.us)

http://img185.imageshack.us/img185/4917/photo155la9.th.jpg (http://img185.imageshack.us/my.php?image=photo155la9.jpg)http://img185.imageshack.us/img185/6915/photo156ug9.th.jpg (http://img185.imageshack.us/my.php?image=photo156ug9.jpg)http://img144.imageshack.us/img144/1812/photo157be7.th.jpg (http://img144.imageshack.us/my.php?image=photo157be7.jpg)http://img83.imageshack.us/img83/9998/photo158lx5.th.jpg (http://img83.imageshack.us/my.php?image=photo158lx5.jpg)

this possibly cant be plot for just one tower can it?

^^ Why not; just look at the (wide) base of the tower.

please . change the status U/C

27/04/2007

Pier 8

http://img84.imageshack.us/img84/4624/imresolt135xt8.jpg (http://imageshack.us)

23/May/2007

Pier 8 from Time Place

http://img503.imageshack.us/img503/6136/imresolt052br4.jpg (http://imageshack.us)

Can anybody definitely confirm that this will be the only high rise tower on this plot? I have a direct marina facing view apartment in JBR behind the plot and I will be one happy bunny if this is the case :cheers:

I wonder if the plot number "8EE" offers any clues? Does anybody know if a double letter means a double plot?

15/June/2007

Pier 8

http://img507.imageshack.us/img507/4981/imresolt161iv7.jpg (http://imageshack.us)

http://img180.imageshack.us/img180/4143/imresolt162sb6.jpg (http://imageshack.us)

29/June/2007

Pier 8

http://img224.imageshack.us/img224/3329/imresolt128dw5.jpg (http://imageshack.us)

http://img407.imageshack.us/img407/3760/imresolt129nn0.jpg (http://imageshack.us)

http://img224.imageshack.us/img224/7981/imresolt130hg1.jpg (http://imageshack.us)

^^ Does anyone know what is planned for the plot next to Pier 8 (ie where they currently have their site office etc)?

Wow they've even got the laminated wooden flooring down already.

:lol:

I wonder if the plot number "8EE" offers any clues? Does anybody know if a double letter means a double plot?

The double lettering has no real significance - if there are more than 26 plots in a numbered sector in the marina then they run out of letters by which to call them, so they start again e.g. AA BB CC etc.

03/Aug/2007

PIER 8

http://img20.imageshack.us/img20/2023/imresolt179cr4.jpg (http://imageshack.us)

http://img252.imageshack.us/img252/6292/imresolt180mp4.jpg (http://imageshack.us)

http://img504.imageshack.us/img504/603/imresolt181aj1.jpg (http://imageshack.us)

Is it just me or are the piles a bit spread out on this one. Almost the opposite of ocean Heights.

Reinforcement for the base slab has started. Waterproofing layer being completed to the rest of the excavation. This site is not breaking any speed records.

http://mysite.wanadoo-members.co.uk/cranesetcphotos/dubaipier8.jpg

Better than breaking shoring walls (ehm infinity) I suppose.

16/November/2007

PIER 8

http://img248.imageshack.us/img248/2153/imresolt040pv0.jpg (http://imageshack.us)

http://img261.imageshack.us/img261/5194/imresolt041nt6.jpg (http://imageshack.us)

Pouring concrete today. It's clear to see now that this is two plots.

04/January/2008

PIER 8

http://img292.imageshack.us/img292/1329/imresolt136se2.jpg (http://imageshack.us)

http://img118.imageshack.us/img118/2520/imresolt137we3.jpg (http://imageshack.us)

http://img245.imageshack.us/img245/4549/imresolt138dk0.jpg (http://imageshack.us)

18/January/2008

Pier 8

http://img443.imageshack.us/img443/9973/imresolt157sh3.jpg (http://imageshack.us)

http://img182.imageshack.us/img182/7803/imresolt158io2.jpg (http://imageshack.us)

28/January/2008

Pier 8 ,The Atlantic,Al DUA'A and the Dolce Vita plots

http://img261.imageshack.us/img261/1138/imresolt222ts7.jpg (http://imageshack.us)

WHOS THE DEVELOPER?

ARE THERE ANY APARTMENTS AVALIBLE OR IS IT AN OFFICE TOWER?

THANKS

15/May/2008

Pier 8

http://img221.imageshack.us/img221/7679/imresolt097jt8.jpg (http://imageshack.us)

There appears to be plots on both sides of Pier 8,does anyone know whats planned for them.

As far as I can tell, the "Pier 8" y'all refer to looks more like the location for Harbour residences, http://www.skyscrapercity.com/showthread.php?t=536014&page=2, its the one next to "The Atlantic", in front of Dolce Vita and diagonal from Al Duaa.

If you go to Dubai's Tourism website and download the map at http://www.dtcm-dubaimap.com/Map_of_Dubai.pdf, you will see that Pier 8 is referenced on the other side of the Marina. However, this map is outdated and I am unsure whether this "Pier 8" is going to be built or not.

Any ideas on the real Pier 8?

^^ this is the 'real' pier 8!

^^ this is the 'real' pier 8!

How? Has it been renamed? Like I said before, how is this Pier 8 when its location indicated contradicts with Harbour Residences???

^^ Not sure I understand what you are trying to get at. I don't think the map contradicts the location?

Have a look here:

http://i33.tinypic.com/nbvxww.jpg

Pier 8 is exactly where it should be!

Al Atina is now Bay Central!

The board says Pier 8 is on this plot! The Board is correct, no matter what a map in the internet or a developer homepage says...
Unfortunately Pier 8 is so slooow... 3 floors in 3 months! :ohno:

BTW, thread title can be changed in U/C.

Sorry for the confusion, I didnt mean the map contradicts the location.

But I do understand now though, thanks Gol.

Does anyone know what the plot next to "Pier 8" is going to be?

http://i35.tinypic.com/17x212.jpg

already up ground change title please UNCER C :)

Abyaar rebrands, launches Pier 8 sales

Kuwaiti property developer Abyaar has unveiled its new corporate logo at Cityscape Dubai. The branding takes the form of a signature that will be on all the company's marketing and advertising campaigns. Abyaar also launched sales of units in its Pier 8 development in Dubai Marina, with asking prices averaging Dhs2,750 per square foot.

http://www.ameinfo.com/170655.html

Taken on 30th September;

http://img98.imageshack.us/img98/6748/dsc00475vr4.jpg (http://imageshack.us)

Real estate agents tell us the average in the marina is currently 2050AED/ft2 but this is being launched at 2750AED/ft2 nearly 35% above the average. On that basis I don't expect it will sell out on the first day.

http://i37.tinypic.com/29fw7qs.jpg

http://i36.tinypic.com/122jjv4.jpg

Looking at this pic...It appears that there will be another tower alongside Pier 8...as they have already started to dig a hole

02/December/2008

PIER 8

http://img237.imageshack.us/img237/4760/imresolt042ac6.jpg (http://imageshack.us)

20/December/2008

PIER 8

http://img72.imageshack.us/img72/4436/imresolt026wu3.jpg (http://imageshack.us)

http://img237.imageshack.us/img237/7495/imresolt027rn6.jpg (http://imageshack.us)

08/January/2009

PIER 8

http://img508.imageshack.us/img508/2032/imresolt099xy8.jpg (http://imageshack.us)

http://img129.imageshack.us/img129/482/CIMG2402.jpg

Big thanks to CBP

http://i43.tinypic.com/21abyoj.jpg

The progress was nice until day before yesterday. It is slowing down, let us see what ABYAAR does next. The price in Peer8 is well above 2500 psf.

The next site is apparently ICE Tower, isn't it?

^^ yes ,it is from the right side .

08/February/2009

http://img297.imageshack.us/img297/3369/imresolt061hy5.jpg (http://imageshack.us)

http://img201.imageshack.us/img201/4791/imresolt107hb6.jpg (http://imageshack.us)

17/February/2009

PIER 8

http://img13.imageshack.us/img13/3269/imresolt174tz4.jpg (http://imageshack.us)

http://img520.imageshack.us/img520/7388/imresolt196cm8.jpg (http://imageshack.us)

19/February/2009

PIER 8

http://img264.imageshack.us/img264/9160/imresolt68fn6.jpg (http://imageshack.us)

The construction was going pretty fast but has totally stopped about 2 weeks ago. Does anyone of you have any idea what is happening?

no idea, yesterday I saw only 3 workers there.

Shit, the next one on hold??!! Hope not !!.... :hm: :wallbash:

top section covered by plastic, ON HOLD ...

07/March/2009

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

Anymore news on why this has gone on-hold?

What are investors in this project doing?

Seems to be on hold. Can see it from my balcony. Nothing is going on since a couple of weeks. Did any of investors contact the developer?

materials around the core were removed, bad sign.

07/April/2009

PIER 8

http://i42.tinypic.com/287i2rr.jpg

http://i41.tinypic.com/28vpy12.jpg

Any news on this one?

same status as month ago. Means nothing is happening

http://i39.tinypic.com/2vip261.jpg

No sign of life here.

Quite a big building to end up a ghost, but then again who knows. Anyone invested in this / anyone been in contact with developers?

26/June/2009

PIER 8

outside elevator removed, ON HOLD for a long or just changing the main contractor?

http://i43.tinypic.com/4igccm.jpg

http://i42.tinypic.com/k2xwdj.jpg

http://i42.tinypic.com/2qj9d9s.jpg

http://i43.tinypic.com/313oew3.jpg

On Hold

http://rpdubai.ae/rpdubai/SharedFolder/ProgressIndicator/136_80.jpg

Real shame here as its such a great plot

http://i27.tinypic.com/bfl11e.jpg

they are working again at the Acacia Avenues, at least works of villas restarted but the Olgana and Hiliana Towers still ON HOLD.

Hopefuly they will start something at the Marina as well.

Imre there is a tower in phase 1 close to Ocenaic that is at about 14 floors at present and under construction. Very close to the stairway to the metro. It has great views of the marina phase 1 area, do you know what its called? Thanks.

yes , Ariyana Tower

http://www.skyscrapercity.com/showthread.php?t=506679&page=2

18/September/2009

PIER 8

http://i32.tinypic.com/55mnis.jpg

http://i29.tinypic.com/11c5wd1.jpg

so is this on hold or what?

ON HOLD

http://farm3.static.flickr.com/2573/3958723532_e5352a8070_b.jpg

is this still on hold ?

yes

dead

26/November/2009

Pier 8

http://i50.tinypic.com/15hlrg8.jpg

still ON HOLD

29/January/2010

PIER 8

http://i48.tinypic.com/11bloxe.jpg

^^Workers back on site this morning

^^ Good news :)

Some pictures soon will be great.

^^^^

It was only about 6 and they were just cleaning up. Hopefully this is the prelude to full resumption but it hasn't started yet.

Read this, contains some news about this project.

http://www.thenational.ae/apps/pbcs.dll/article?AID=/20100206/BUSINESS/702069929/1005

I saw the site today, didnt see any workers there , main gate was closed.

Before they removed the outside elevator so they need to start with that :)

http://i47.tinypic.com/5wxwmv.jpg

Hope this gets back on track and completed as its in a great position.

^^Wot, right next to a big flyover:lol:

^^Wot, right next to a big flyover:lol:

and don't forget the busy junction with traffic lights! :lol:

work resumed here. saw about 20 workers doing some work on the podium today, and the crane was also operational, moving stuff around.

should be moved back to under construction.

good news

Today

http://i47.tinypic.com/20h8sr5.jpg

work resumed here. saw about 20 workers doing some work on the podium today, and the crane was also operational, moving stuff around.

should be moved back to under construction.

not sure - those workers have been there for a couple of weeks tidying up the site - they havn't started construction again yet.

I think just some maintenance staff there , it will be serious when we see the outside elevators agan!

18/March/2010

PIER 8

http://i42.tinypic.com/10fqceq.jpg

http://i44.tinypic.com/c7ple.jpg

^^Is this still on hold?

Still on hold, this is not construction, probably they keep few workers there just because of the RERA.

This happening at many construction sites now.

^^^^ this project is not off-plan. it was built on bank finance. that's why construction was stopped, the banks stopped the financing given the crisis.

don't think the activity here is related to RERA.

Then even worst , banks dont like financing constructions now:)

^^^^ the developer is a kuwaiti company and their finance comes from kuwait. it's easier to get finance in kuwait than here. i am only speculating, for this activity seems to be a preparation for full construction.

http://farm5.static.flickr.com/4064/4471752534_94457d89a9_b.jpg

^^^^ this project is not off-plan. it was built on bank finance. that's why construction was stopped, the banks stopped the financing given the crisis.

don't think the activity here is related to RERA.

Wonder if the delay in construction of Bay Central East is due to the same? Found this interesting article on the web from 2008

The Group successfully closed a syndicated financing arrangement for the hotel in early 2008. The syndication is comprised of two international banks; one from the United Kingdom and the other being one of the largest UAE banks.

Wonder if the delay in construction of Bay Central East is due to the same? Found this interesting article on the web from 2008

The Group successfully closed a syndicated financing arrangement for the hotel in early 2008. The syndication is comprised of two international banks; one from the United Kingdom and the other being one of the largest UAE banks.

That paragraph is from Select's website here:

http://www.select-group.ae/marina.html

The Renaissance Dubai Marina

Home to 325 beautifully appointed rooms, the Renaissance Dubai Marina will be managed by Marriott international. This five star hotel will feature an all-day casual restaurant, two specialty restaurants, lobby lounge and bar, a high energy entertainment bar with outdoor seating and a large F&B area at the roof deck for functions and parties. For recreation, the hotel will offer an internationally branded, 14,000-square foot spa; a health club with sauna and steam rooms; and an outdoor swimming pool.

With 16,800 square feet dedicated to flexible meeting space, some of the other amenities will include an executive lounge, a business center, 24 hour room service, in room mini bar, and high speed internet access.

The Group successfully closed a syndicated financing arrangement for the hotel in early 2008. The syndication is comprised of two international banks; one from the United Kingdom and the other being one of the largest UAE banks.

Bay Central Towers with their unique private peninsula position, have the prestigious distinction to be the first project in Dubai Marina by a private developer to be awarded hotel approval from the master developer – Emaar.

29.03.10
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read in a kuwaiti paper today that abyaar has secured financing a couple of days ago to complete this project and will resume work shortly.

^^This is good news as the site is really an eye sore. Since it's way out of the ground it bothers me more than the project on hold on the other side of the bridge.

Abyaar sells 50% of Pier 8 Dubai Marina project

Kuwaiti firm offloads half of Dh360m project to an Emirati investor.

By Parag Deulgaonkar | Published Tuesday, June 01, 2010

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The Dubai Marina development, where Abyaar has struck a deal for part financing of its project with an UAE investor. (PATRICK CASTILLO)

Abyaar Real Estate Development, a Kuwait-listed company, has sold 50 per cent of the Dh360 million Pier 8 project in Dubai Marina to an Emirati investor, a company official told Emirates Business.

"Although we have been in talks with Kuwaiti banks for getting finance for the project, we decided to sell 50 per cent of our project to a local businessman. He will be part funding the project," the official, who did not wished to be named, said in a telephonic interview.

The value of the deal has not been finalised, but only an agreement to sell the stake has been reached, he added. Industry experts told this newspaper the sales value could be in the range of Dh500 to Dh550 million.

The 40-storey Pier 8 in Dubai Marina features 234 apartments plus three townhouses and two penthouses. The project has reached the 16th floor, but no new timeline has been set for completion, the official added.

He said the company, once it finalises the new agreement, will approach individual unit holder, the very few, for renegotiating their contracts.

The developer has consolidated its investments in Meydan project and now owns two plots instead of four in the master development. It was planning to develop residential towers but has not yet finalised any plan.

The company has put on hold the 31-storey Ice Tower in Dubai Marina and Dubai Art District, a mixed-use project in the International Media Production Zone.

"We have put on hold these two projects and no decision has yet been taken," the official said.

Pier 24 in Dubai Marina comprising 152 hotel apartments has been delivered and is currently managed by Radisson Blu. The company has also delivered two office buildings in Dubai Investment Park called the Abyaar Business Centre.

Abyaar shares closed 7.89 per cent down at KD0.035 yesterday on the Kuwait Stock Exchange. >> Business 24/7 (http://www.business24-7.ae/companies-markets/real-estate/abyaar-sells-50-of-pier-8-dubai-marina-project-2010-06-01-1.250453)

He said the company, once it finalises the new agreement, will approach individual unit holder, the very few, for renegotiating their contracts.
^^ This means, they have sold "very few" units in this development. I always thought it would be either an Hotel apartment or units would be sold once completed, just as the Pier 24 project was.

09/July/2010

Pier 8

http://img710.imageshack.us/img710/1713/dubai277.jpg (http://img710.imageshack.us/i/dubai277.jpg/)

Uploaded with ImageShack.us (http://imageshack.us)

http://img718.imageshack.us/img718/3931/dubai278.jpg (http://img718.imageshack.us/i/dubai278.jpg/)

Uploaded with ImageShack.us (http://imageshack.us)

maybe in the next 6 months we will see things moving ahead.

^^Construction started up again last month

status still on hold, maybe we should change to "Under Construction" now

There is no activities , sometimes 3-4 workers just sitting and chatting on the podium thats all.

The outside elevator still missing , they cant go higher :)

Imre - rest assured there are 30-40 workers on site 6 days a week, most on the steel work at the top....they have already added an additional floor since work started again

Good news ,thanks, I will check again !

Imre - rest assured there are 30-40 workers on site 6 days a week, most on the steel work at the top....they have already added an additional floor since work started again

You are right, I saw again and workers there , not so much but at least they are working.

Outside elevator has been reinstalled at the marina bridge side so U/C again!

so they are working again; that is great news; if anybody has updated pictures, please post them here

Can anybody, who drives by on a daily basis coment on construction please? Are they building ?

Can anybody, who drives by on a daily basis coment on construction please? Are they building ?

No - but it is Ramadan and work slows to a crawl on most sites at this time. The lift is back in but you rarely see any workers on site.

We will probably know for sure next month after Eid.

http://www.rpdubai.ae/rpdubai/SharedFolder/ProgressIndicator/136_80.jpg

Construction works progress in Pier 8 Project

By completing up to 50% with the height of 20 story

zawya

Kuwait, 20 September, 2010- Abyaar Real Estate Development Company, has announced that construction works are now in progress in Pier Eight project, which the Company launched end of 2008.

AbyaarAbyaar Chief Executive Officer Hussain Al-Basri explained: "The construction works for Pier Eight project are an important phase for us. Pier Eight is one of the landmark projects developed by Abyaar alongside its other projects. Abyaar constantly seeks to achieve clients' satisfaction through luxurious real estate developments that exceed their expectations in terms of distinction and luxury, and which enhance the Company's position in the real estate market across the region."

"Abyaar shows firm commitment towards ensuring the completion of the building works in Pier Eight project. As the project will be delivered according to an aggressive time schedule to ensure strict compliance with delivery time tables", Al-Basri added.

Commenting on Pier Eight project, Al-Basri said: "the project is a landmark created by Atkins- one of the world leading companies in engineering advisory and design services. It is a 39-floor tower in Dubai Marina District, comprising 234 residential units ranging from studio apartments to one bedroom and two bedrooms apartments, in addition to a penthouse, and three town houses gleaming on the waterfront platform, with balconies looking on the Marina."

Upon its completion, Pier Eight project will provide a secure and comfortable environment for around 234 families. It will be an attraction destination for families outside the boundaries of the downtown. The ground floor of the tower will host a variety of exclusive commercial shops and restaurants, occupying a distinguished location looking on the yachts Marina District.

In this connection, Abyaar has appointed MESC Contracting Company to be the main contractor for this project, noting that Abyaar has plans to deliver Pier Eight project end of 2011.

Original completion was June 2008, which at that time was impossible to acheive. So here we are again being fed BS from the developer. End of 2011 is not possible for a 40 floor tower which will not top out until mid 2011:bash:

I suppose the clue is in the rest of the wording of the press release, "Abyaar constantly seeks to achieve clients' satisfaction through luxurious real estate developments that exceed their expectations in terms of distinction and luxury". Bullshit bullshit bullshit!!!

Bottom line is they will never acheive client satisfaction delivering the building 4 years late!

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The site next door (in between BC and Pier 8) has been cleared and a Foundations sign has gone up

http://www.rpdubai.ae/rpdubai/SharedFolder/ProgressIndicator/136_80.jpg

I like the roof too much !

12-dec
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23-jan
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28/January/2011

PIER 8

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^^Concrete work is still moving well, everything else is slow.

11/February/2011

PIER 8, facade testing

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6-mar
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20-march

looks flike floor 32 now.

http://farm6.static.flickr.com/5252/5543191773_486b837e59_b.jpg

25/March/2011

PIER 8

http://i54.tinypic.com/dyor2w.jpg

01/April/2011

Pier 8

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08/April/2011

PIER 8

http://i54.tinypic.com/4r7uko.jpg

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15/April/2011

Pier 8

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there's a mockup of the facade down on the walk (water side). you can see part of that already on imre's last pics (looking like a white phone booth). a few more glass elements have been added since.

29/April/2011

Pier 8

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10/June/2011

PIER 8

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http://i52.tinypic.com/2hd4byd.jpg

18june
http://i900.photobucket.com/albums/ac210/PrincessTower/zIMG_2642.jpg

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Started excavation on the plot next door. No sign board up as yet though.

how are things progressing on site ?

how are things progressing on site ?

Very, very, sloooooooooow.....

They were working on the concrete structure through the night but little else is progressing. I guess they are targeting a topped out status so they can get funds in.

31/July/2011

Pier 8

http://i52.tinypic.com/9viqdz.jpg

^^This is certain to become another Al Arieffe tower. Fully built skeleton structure with no skin.

Facade test at the marina side.

^^Yeah, but thats been there for ages. Al Arieffe has a facade test also, but no cladding for 3 years:D

Not really any progress compared to June 18th picture. Right ?

Concrete frame could be topped out. Don't think any other trades are working on the building. I'm not in Dubai though so can't say for sure, just judging by the pictures.

http://farm7.static.flickr.com/6079/6062505266_154497fa67_b.jpg

http://farm7.static.flickr.com/6184/6061957599_932e7e2516_b.jpg

I have a credit note from the developer Abyaar which I am selling urgently. The value is around 400k AED and could be used against your next payment. Contact me if you if you interested (fasame33@yahoo.com).

9/September/2011

PIER 8

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http://i54.tinypic.com/xf68o5.jpg

23/September/2011

PIER 8

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28/October/2011

Pier 8

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http://i41.tinypic.com/5le0pz.jpg

this should be topped out soon

2011-12-02 by me

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09/December/2011

PIER 8

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looks like they add some extra floors

if it ever gets finished it should be pretty good - all the units on the front and to each side will have unobstructed Marina views.

looks like they add some extra floors

Maybe they had no idea when to stop!!

40th floor done as you can see the last pic.

Started trialing the glass fit this week - should look OK.

http://i97.photobucket.com/albums/l212/sids666/P1000954.jpg

24/December/2011

PIER 8

http://i43.tinypic.com/n3nghv.jpg

21/January/2012

PIER 8

http://i41.tinypic.com/15ywz9y.jpg

3/February/2012

Pier 8

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