NEVER BUILT: IRIS ORA TOWER , 20F Res

[bizzybonita]

IRIS to showcase Dhs500m IRIS ORA project at Cityscape Dubai

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The project will be unveiled at Cityscape Dubai, the 7th edition of the world's largest business-to-business real estate investment and development exhibition running from the 6th to the 9th of October at the Dubai International Exhibition Centre at stand ZF60.

Covering nearly 1,75,000 square feet, IRIS ORA is the exclusive 19 storey residential tower at the creek-front in Business Bay, comprises of a range of studio, 1 & 2 bedroom apartments, retail area along the promenade on the ground floor, 1 level basement and 2 podium levels for ample car parking.

Each of the luxury apartments will enjoy 24 hours security and maintenance, broadband connectivity, access to state of the art Gym and other luxurious facilities. The interiors will be finished to the highest possible standards creating a feeling of luxury and comfort.

Mr. Ashwin Sheth, CEO of IRIS and Managing Director of Sheth Estate, commented:
'CityScape is an established event on the calendar of every property developer in the region and we are delighted to be here again at Cityscape to showcase our new projects. Our impressive project portfolio includes some of the most innovative and luxurious developments in the region. This show is a great platform and a springboard for people in UAE to make their way into some of our state-of-the-art properties.'



Expressing the company's confidence in the UAE market despite the global slowdown Mr. Sheth stated, 'It is worth pointing out that the UAE real estate market is standing firm, when the markets elsewhere are witnessing the impact of global slowdown. This market is rapidly developing, when compared to markets in places such as the US and the UK, with the UAE Central Bank revealing that mortgage lending in the UAE jumped 55 percent in the first quarter of this year as compared to same period in 2007.'

Furthermore, IRIS is currently working on other unique projects such as IRIS Bay, IRIS Asmar, IRIs Amber, IRIS Crystal and IRIS Mist projects.

http://www.ameinfo.com/170500.html

[234sale]

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[AITU]

Any idea of prices?

[Morten_Denmark]

This location is just brilliant - anyone know about prices and payment plans ?

[docc]

I think its 2500/Sft if i am not mistaken. 234sale was with me when the rep mentioned the prices; maybe he remembers better.

[234sale]

I have a photographic memory
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[AITU]

Thanks. Great location, reasonable payment plan and decent sizes but certainly no bargain, particularly for those without a Bay view.

AED2500 per sq/ft would have made them more tempting.

[Morten_Denmark]

Thanks Sale and Doc

So approx. 3000 psf. I know design is not top-class - but properly fast to build and excellent location I think. Is the developer the same as the ones involved in Iris Blue - the project in Dubai Marina ? That was a good project - I saw the interior.

I noticed that one have to pay for parking space now - is that getting normal ?

[Money2Burn]

If this sells at 2800DHS/sqft before anything has moved, Churchill should reach this price once ready to move in, right? The location is almost identical, the design is not a stunner so "same same but different" to me...

[Mavekris]

Originally Posted by Money2Burn

If this sells at 2800DHS/sqft before anything has moved, Churchill should reach this price once ready to move in, right? The location is almost identical, the design is not a stunner so "same same but different" to me...

Why do you compare each and every project in business bay with your 1 bed in churchill

[Money2Burn]

Originally Posted by Mavekris

Why do you compare each and every project in business bay with your 1 bed in churchill

because it's build in the same master development just a few plots down the road on the same side of the creek, that's why. Let me officially apologize for not comparing it to U-Bora since I didnt buy there

[DaYFox]

Of course there will be differences in prices even though the buildings are right next too each other. BUT once the market has stabilzed in a few years 90% -the price will calculate out of 90% location and 10% design, features, ammenities of the building itself- will come down to location! I think that is what he means... IMHO

[Naz UK]

...No, it's getting greedy.

[DaYFox]

If this building goes NOW for 3.000AED/sqfet (which is a normal rate in BB nowadays) i think all of us who bought in Ubora at around 2.000AED might have made a good deal... Dont u think so?

[ardi]

there is no harmony in design between Iris projects, what hell are they thinking.

[Money2Burn]

I like the design, very emaarish imo.

[bizzybonita]

Bids for US $136mn Iris Ora this month


by ArabianBusiness.com staff writer on Saturday, 11 October 2008

Tenders for the US $136 million (AED500 million) Iris Ora project to be located on the creek-front in Business Bay will be sent out by the end of this month.

Iris CEO, Ashwin Sheth told Construction Week that bids for the main construction package will be invited by the end of this month.

"Construction is expected to start by the end of November or latest by the beginning of December, immediately after the main construction contract is awarded. The entire project is expected to take 21 months to be completed from the day the contract is awarded," he said.

http://www.arabianbusiness.com/53369...is-month?ln=en

[234sale]

Unknown Tower
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[Mavekris]

This one is grosvenor business bay tower.

Sheik Ahmed's project.

[234sale]

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