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Dubai Waterfront and Palm Jebel Ali Developments on Nakheel's second palm and the new surrounding city



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Old May 16th, 2008, 01:00 PM   #1
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#APPROVED: MARINA LEGEND TOWERS, 2x?F (Madinat al Arab)

By ACI and Ferreti Group



Luxury Yacht manufacturer moves ashore in Dubai
One of the world’s leading luxury yacht manufacturers, Ferretti Group, has just announced a partnership with ACI Real Estate to build a shoreline property in Dubai. The $1.6 billion project, named “Marine Legend” at Nakheel’s Dubai Waterfront will be the first real estate venture for Ferretti.

Chief Executive Officer of the Ferretti Group, Mr. Vincenzo Cannatelli, said he believes there is great potential in the real estate sector, especially in the East, and the company is eager to become involved in the shore based side of things.

"We are not getting directly involved in the real-estate business, but participating with right partners to improve our presence," Cannatelli said when asked what part his group would play in the deal. The real estate sector, he said, directly complements the yacht industry by way of accelerating business.

"The growth of waterfront properties in Dubai will definitely accelerate our business in the region. In fact, many customers of ACI Real Estate are our potential customers too and would be interested in owning one of our yachts."

Currently, Ferretti sells approximately thirty luxury yachts yearly in the United Arab Emirates, and is hoping to improve that to between fifty and a hundred units within the next five years.

"We have been thinking of the UAE as our next destination for international expansion. The market offers a special platform with a sound business environment that facilitates global business and investment. Dubai is well poised to become a leading global business capital and we are happy to join ACI to be part of this invigorating phase of growth," he declared.

Managing Director of ACI Real Estate, Mr. Robin Lohmann said the property will create new trends in luxury waterfront residence in the emirate.

"Marine Legends reflects growing demand for high-end residences and concurrently aims at providing an appropriate setting that unifies the requirements and aspirations of Dubai to appreciate the waterline and improved water canal systems," said Lohmann. "There has been a lot of infrastructure development at the Dubai Waterfront, and I think it is a realistic scenario to complete the project within the scheduled time as we have already started working on the design."

The plans are to complete the project within the next thirty–six months. Marine Legends will comprise three twin towers and will be designed with yachting elements blended in into it. Architects from both partners will co-ordinate on the design and some of the towers will be named after the Ferretti brands.

Lohmann said the company would be securing more properties in the Dubai Waterfront in the future. "We have already crossed $2.7 billion in turnover in this year. We will be diversifying our portfolio by securing our market share in emirates such as Abu Dhabi, Ajman, Ras Al Khaimah as well as Dubai, where new developments are happening."
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Old May 16th, 2008, 01:12 PM   #2
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Render?
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Old May 16th, 2008, 01:21 PM   #3
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I found this site but without render..
http://www.westcoastdubai.com/index....&listingID=674

PG: searching


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Last edited by bizzybonita; May 27th, 2008 at 09:11 PM.
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Old May 16th, 2008, 08:20 PM   #4
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Why they don't have one at the site!!!

But it's the beginning of many many towers!!!!..........
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Old May 17th, 2008, 08:47 PM   #5
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Are you sure these are in waterfront city and not madinat al arab? As far as I know no plots have been sold in waterfront city yet.
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Old May 18th, 2008, 05:31 AM   #6
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Quote:
Originally Posted by bizzybonita View Post
PG: searching
I wish I had the time bizzy ... But watch this space
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Old May 18th, 2008, 01:18 PM   #7
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I have seen the renders somewhere, its a twin tower, nice design aswell.
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Old May 18th, 2008, 02:37 PM   #8
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me too in mag but i couldn't find it out ...
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Old May 27th, 2008, 09:47 AM   #9
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http://www.alineah.com/floor/638/detail.htm

a render...
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Old May 27th, 2008, 05:44 PM   #10
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WOW! That tower is ******' awesome!
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Old May 28th, 2008, 12:25 AM   #11
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Old July 26th, 2008, 12:22 AM   #12
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Does anybody knows when the ferretti towers will be launched?
Regards
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Old July 26th, 2008, 10:55 PM   #13
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ILOVE-DUBAI, just to tell you this isn't a place to buy and sell apartments. You'd probably get your questions answered much better at a forum like www.totallyproperty.com
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Old July 27th, 2008, 05:16 PM   #14
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any other photos of this project other than that black/white? Can't even see very well.
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Old August 28th, 2008, 04:41 PM   #15
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Italy's Ferretti eyes Gulf market

Italian luxury yacht maker Ferretti may go ahead with plans to sell shares to the public after November, but a final decision would depend on market conditions, its chief executive told Reuters on Wednesday.

Speaking in an interview at the launch of a $1.6 billion property development in Dubai that will draw on Ferretti's yacht designs, CEO Vincenzo Cannatelli said the markets remained "difficult".

"In September, we will see where the markets are ... Certainly, it cannot be before the fall because we are releasing our full-year results in October," he said, adding that November onwards could be possible.

Cannatelli declined to give a range for expected profit or revenue growth in the year ending Aug. 31, but said increased sales of mega-yachts, typically over 70 feet in length, would help make 2007-2008 a "good year", despite the global economic downturn.

"Fortunately enough (the slowdown) does not have a major impact on Ferretti, because our smallest entry level is 40 to 50 feet and what does better in this (economic) environment is the 70 feet (class)," Cannatelli said.

Rising fuel prices were unlikely to dampen Ferretti's growth as buyers willing to spend 5, 10 or 15 million euros on a luxury boat would not be deterred.

Ferretti, which owns the Riva and Pershing yacht brands, is 51-percent owned by Candover , the London-based private equity fund that bought the yacht maker from rival fund Permira in 2006. Permira still holds a 9 percent stake.

In April, the Financial Times put Ferretti's valuation as high as 3 billion euros ($4.65 billion). Cannatelli declined to give a valuation.

Ferretti went public with a listing in Milan in 2000, but Permira took it private again two years later. It sold control to Candover in 2006.

Mediobanca and Merrill Lynch are joint global coordinators for the anticipated offer, with Citi and UBS joint bookrunners.

Cannatelli said the difficulties in the US were being offset by growth in Eastern Europe and South America and new opportunities in emerging markets such as India and China.

The booming Gulf market, where a more than fivefold rise in oil prices since 2002 has buoyed economic growth, could become a "significant" market for Ferretti, Cannatelli said, adding that it currently sells dozens of boats a year in the region.

Dubai, home to manmade palm-shaped islands, plans to add 50,000 boat berths across the emirate, up from 2,500 in 2007.

In the UAE, the world's fifth-largest oil exporter, millionaires accounted for one out of every 58 people in a total population of 4.5 million last year, according to data provided in the Merrill Lynch and Capgemini World Wealth Report.

Ferretti has teamed up with German real estate firm ACI to develop waterfront apartment towers in Dubai that are named after Ferretti yachts. The buildings will house yachts moored at the development.

"Middle East (people) have always been excellent clients for the big boats and mega-yachts, but generally kept them in the Mediterranean," said Cannatelli. "What is happening is the development of real estate and marinas ... I believe it will increase the culture of boating in this region."


Via (Reuters)
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Old September 10th, 2008, 12:37 AM   #16
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Ferretti, ACI launches Ferretti and Pershing luxury waterfront residences

The Ferretti Group, together with ACI Real Estate has launched two luxury waterfront residences - Ferretti Luxury Beach Residence, and Pershing Luxury Beach Residence.

This freehold ownership project, named as 'Marine ', is worth about Dh.6bn, covering about 1,969,607 square feet of saleable area at the Waterfront.

The twin tower, with its landscaped gardens, set amidst canal and sea views, offers the latest in amenities such as pool, fitness center, sauna and Jacuzzi, with eight luxury yachts per brand for residents to charter at their preferred rates. These yachts will be purchased by the ACI Group.
The twin tower Ferretti Beach Residents will include 44 storeys each, while the Pershing Luxury Beach Residence will have 41 storeys, apart from individual retail units at the ground floor of each tower.

The project is slated for completion by 2011. Robin Lohmann, the Managing Director, ACI Real Estate, said that this deal has strengthened the vision of the company in bringing world-class luxury living to Dubai. The Ferreti Group has been a pioneer in luxury brand for decades now. ACI Real Estate seeks to blend Ferretti's expertise into realty projects of the company, and provide customers with best of both worlds.

The Ferreti Group is renowned globally for its high performance luxury yachts. This partnership with ACI is another instance of its effort to create a unique concept to add tangible and intangible value to its offerings.


P.S please change title With new name elso
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Old September 11th, 2008, 07:35 PM   #17
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New name

" Ferretti Beach Residents "



New Render




Source & developer

http://acigroup.ae/project.php?project_id=20
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Old September 11th, 2008, 07:37 PM   #18
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New name

" Ferretti Beach Residents twin tower "



New Render




Source & developer

http://acigroup.ae/project.php?project_id=20
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Old September 12th, 2008, 03:54 PM   #19
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Thx a lot Bizzy !!

44 floors is not that bad !!!!
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Old September 14th, 2008, 09:32 AM   #20
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Nice addition to the Waterfront, although i doubt it would be white like in the render.
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