malec
April 7th, 2008, 12:44 PM
Palm Canal Towers plan for Waterfront
Saturday, 08 March 2008
http://www.arabianbusiness.com/images/magazines/arabianbusiness.com/web/Harbour_thumb.jpg
DEVELOPING NICELY: Madinat Al Arab is just one component of the Dubai Waterfront project.
Nasa Multiplex has won a contract from Nakheel to build a six-tower project at Dubai Waterfront.
The project, called the Palm Canal Towers, will be spread over 600,000m2.
Although construction began last week, the project will not be officially launched for sale until June. The move is part of Nakheel's strategy to avoid ‘off-plan' sales.
The contract is one of several recently awarded at Dubai Waterfront. Wade Adams won a civil works contract for both the Veneto and Badrah components of the project, while Mammut Group is building 1,042 apartments and 146 townhouses at Badrah.
Matt Joyce, managing director, Dubai Waterfront, declined to give individual contract values but the work is part of an estimated US $3.2 billion (AED12 billion) package of contracts to be awarded in the first half of this year.
Further contracts will be issued for infrastructure and utilities work and the construction of four intersections. Joyce added that designs are also being drawn up for Badrah Gate Commercial Towers.
Dubai Waterfront will be made up of an inland component and six reclaimed islands.
"We're currently reclaiming land at a rate fast enough to fill London's Wembley Stadium each month," said Joyce.
Other components of the project include Madinat Al Arab, Canal District and Waterfront City.
Construction is underway in districts B and C of Madinat Al Arab, including Omran, an accommodation complex that will eventually house 60,000 labourers.
The Palm Cove Canal and three 160m canal bridges are also under construction.
Samsung, Dutco Balfour Beatty and Emirates Road Contracting are among the other contractors involved in the project.
Most of the project will be in the hands of third-party developers, while Nakheel will develop the rest.
"Any developer who buys a plot of land will have to abide by the Design Control Regulations (DCRs) set by Nakheel," said Joyce. "So we're acting as a regulator as well as a masterdeveloper.
The development plans to accommodate a population of 1.5 million when complete.
Joyce expects 60% of this population to come from growth-drivers within Dubai Waterfront - which will be twice the size of Hong Kong Island - and 40% from Dubai itself.
"The government here has capital to invest in infrastructure, and as long as this continues then the population will grow and job opportunities will be created. People want to live where they have opportunities and lifestyle and this is what Dubai is creating," said Joyce.
And there's no reason why Dubai and Dubai Waterfront can't achieve this; as the government has the capacity to invest in infrastructure.
R
Saturday, 08 March 2008
http://www.arabianbusiness.com/images/magazines/arabianbusiness.com/web/Harbour_thumb.jpg
DEVELOPING NICELY: Madinat Al Arab is just one component of the Dubai Waterfront project.
Nasa Multiplex has won a contract from Nakheel to build a six-tower project at Dubai Waterfront.
The project, called the Palm Canal Towers, will be spread over 600,000m2.
Although construction began last week, the project will not be officially launched for sale until June. The move is part of Nakheel's strategy to avoid ‘off-plan' sales.
The contract is one of several recently awarded at Dubai Waterfront. Wade Adams won a civil works contract for both the Veneto and Badrah components of the project, while Mammut Group is building 1,042 apartments and 146 townhouses at Badrah.
Matt Joyce, managing director, Dubai Waterfront, declined to give individual contract values but the work is part of an estimated US $3.2 billion (AED12 billion) package of contracts to be awarded in the first half of this year.
Further contracts will be issued for infrastructure and utilities work and the construction of four intersections. Joyce added that designs are also being drawn up for Badrah Gate Commercial Towers.
Dubai Waterfront will be made up of an inland component and six reclaimed islands.
"We're currently reclaiming land at a rate fast enough to fill London's Wembley Stadium each month," said Joyce.
Other components of the project include Madinat Al Arab, Canal District and Waterfront City.
Construction is underway in districts B and C of Madinat Al Arab, including Omran, an accommodation complex that will eventually house 60,000 labourers.
The Palm Cove Canal and three 160m canal bridges are also under construction.
Samsung, Dutco Balfour Beatty and Emirates Road Contracting are among the other contractors involved in the project.
Most of the project will be in the hands of third-party developers, while Nakheel will develop the rest.
"Any developer who buys a plot of land will have to abide by the Design Control Regulations (DCRs) set by Nakheel," said Joyce. "So we're acting as a regulator as well as a masterdeveloper.
The development plans to accommodate a population of 1.5 million when complete.
Joyce expects 60% of this population to come from growth-drivers within Dubai Waterfront - which will be twice the size of Hong Kong Island - and 40% from Dubai itself.
"The government here has capital to invest in infrastructure, and as long as this continues then the population will grow and job opportunities will be created. People want to live where they have opportunities and lifestyle and this is what Dubai is creating," said Joyce.
And there's no reason why Dubai and Dubai Waterfront can't achieve this; as the government has the capacity to invest in infrastructure.
R