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Never Built Projects once planned for construction but never built.



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Old October 6th, 2008, 12:51 PM   #1
bizzybonita
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NEVER BUILT: IRIS ORA TOWER , 20F Res

IRIS to showcase Dhs500m IRIS ORA project at Cityscape Dubai




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
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Old October 7th, 2008, 10:10 AM   #2
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Old October 7th, 2008, 10:55 AM   #3
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Any idea of prices?
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Old October 7th, 2008, 12:38 PM   #4
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This location is just brilliant - anyone know about prices and payment plans ?
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Old October 7th, 2008, 01:18 PM   #5
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I think its 2500/Sft if i am not mistaken. 234sale was with me when the rep mentioned the prices; maybe he remembers better.
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Old October 7th, 2008, 01:31 PM   #6
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I have a photographic memory

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Old October 7th, 2008, 01:42 PM   #7
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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.
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Old October 7th, 2008, 01:55 PM   #8
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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...
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Old October 7th, 2008, 02:19 PM   #9
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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 ?
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Old October 7th, 2008, 02:24 PM   #10
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...No, it's getting greedy.
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Old October 7th, 2008, 04:40 PM   #11
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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?
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Old October 7th, 2008, 05:34 PM   #12
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Quote:
Originally Posted by Money2Burn View Post
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
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Old October 8th, 2008, 11:35 AM   #13
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there is no harmony in design between Iris projects, what hell are they thinking.
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Old October 8th, 2008, 12:57 PM   #14
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Quote:
Originally Posted by Mavekris View Post
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
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Old October 8th, 2008, 01:00 PM   #15
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I like the design, very emaarish imo.
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Old October 8th, 2008, 02:05 PM   #16
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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
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Old October 12th, 2008, 11:40 AM   #17
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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
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Old October 19th, 2008, 07:45 AM   #18
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#ON HOLD: BB.A05.009, 20F Com

Unknown Tower


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Last edited by 234sale; March 26th, 2009 at 07:38 AM.
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Old October 19th, 2008, 05:08 PM   #19
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This one is grosvenor business bay tower.

Sheik Ahmed's project.
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Old October 28th, 2008, 11:07 AM   #20
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how well did this sell?
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