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First phase of Dar Al Dhabi sold in an hour

on Thursday, May 15, 2008



Location: http://wikimapia.org/#lang=en&lat=24.486563&lon=54.400617&z=17&m=b

Dar Al Dhabi Real Estate said the first phase of Dar Al Dhabi Project on Reem Island at Cityscape Abu Dhabi was sold out on the first day of its launch.

The entire first phase units of the project were sold for Dh1.55 billion in the first hour of the launch on Tuesday.

"The excellent response we received from local, regional and international investors is a true testament of the superior investment potential of Dar Al Dhabi Project. On a larger scale, this proves that Abu Dhabi is fast becoming a focal point of property development.

Dar Al Dhabi Project occupies five plots on Al Reem Island and is situated on the marina in Najmat Abu Dhabi development, 300 metres off the coast of Abu Dhabi.

The project covers a gross construction area of five million square feet with a total cost estimated at Dh6bn.
 

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Dar Al Dhabi will build six towers at Al Reem Island




on Saturday, May 17, 2008

The latest entrant into Abu Dhabi's real estate sector, Kuwait-based Dar Al Dhabi Real Estate, will start constructing six towers at Al Reem Island late this year.

Abdulwahab F Al Ameer, Board Chairman and Managing Director, said Dar Al Dhabi has already received the land for the projects from Tamouh, the master developer of Al Reem Island.

All of the six towers will be at least 300 metres high and will range from 75 storeys to 85 storeys, said Al Ameer. The price per square foot will be from Dh2,200 to Dh2,600, depending on the height and location of the building, with the price being the highest in the towers overlooking the Gulf waters.

"Some of the towers are on the seafront while others are beside the marina and five-star hotels," Al Ameer said. They will be completed between 2010 and 2012.


He added that Dar Al Dhabi is the first real estate company from Kuwait to participate in this year's Cityscape in Abu Dhabi as the company felt the UAE capital is the best site in the Gulf to invest in at the moment, especially in real estate, thanks to the strong infrastructure in the emirate and the provision of allowing foreign ownership.


Al Ameer said Dar Al Dhabi has not tied up with any single bank to offer finance for the purchase of its projects. Instead, it has managed to bring together several banks for this purpose to give buyers freedom to deal with the banks they already bank with.

While refusing to reveal the prices of the units Dar Al-Dhabi was selling, Al Ameer said they were competitive and took into account the rise in prices of building materials in the UAE, particularly Abu Dhabi.

"And the prices we set for buyers are final; we will never raise them even if the cost of building materials were to double," he said.
 

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Discussion Starter · #3 ·
#APPROVED: AL SHARQ TOWER , 2x37F Res





Al-Sharq Towers ( 1 & 2 )

Residential Aspirations
Surrounded by calm azure waters and year-round sunshine, these premium G+35 towers are situated in an idyllic location close to the Marina and offer easy access to, what is planned to be, Abu Dhabi’s largest shopping mall, as well as two 5-star boutique hotels. It is also in close proximity to the largest commercial tower on Al Reem Island.

These prime residential gems will offer a new era of highly exclusive, luxurious, serene living…the ultimate in luxury lifestyle living. The towers are also in close proximity to the vibrant Marina promenade, which is set to become the social hub of Najmat Abu Dhabi.
Project Features:
Luxurious indoor and outdoor temperaturecontrolled swimming pools
Sky gardens
Exclusive penthouses
Health and fitness centre
Tranquil covered deck and continental cafe
Smart home technology
Secure underground parking
24 hour security and maintenance
Stunning views of the meticulously planned urban district
High quality interior and exterior finishing
Close proximity to state-of-the-art mall



Al-Sharq Tower 1 Al-Sharq Tower 2
No of Apt: 395 No of Apt: 390
Height: 2 Basement plus 35 floors Height: 2 Basement plus 35 floors

more info

www.oceanviewdubai.com
 

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Discussion Starter · #4 · (Edited)
First Phase of Dar Al-Dhabi Project sold out in the first hour at Cityscape Abu Dhabi,


Total sales reach AED 1.55 billion
Abu Dhabi, United Arab Emirates, 13th May 2008: After debuting the first phase of the Dar Al-Dhabi Project at Cityscape Abu Dhabi, Dar Al-Dhabi Real Estate and their sales and marketing agent, PURE Real Estate, announced that all their units have been sold out on the first hour. The total sales reached AED 1.55 billion which is much higher than initially projected in the PPM



"The excellent response we received from local, regional and international investors is a true testament of the superior investment potential of Dar Al-Dhabi Project. On a grander scale, this proves that Abu Dhabi is fast becoming a focal point of property development and a hotspot for key real estate investments,” said Abdulwahab F. Al-Ameer, VP Chairman of Dar Al-Dhabi Holding.

Dar Al-Dhabi Project occupies five plots on Al Reem Island and strategically situated on the only marina in the Najmat Abu Dhabi development, 300 metres off the coast of Abu Dhabi. The project covers a gross construction area of 5 million square feet with a total cost estimated at AED 6 billion.
Al-Ameer added that he expects that “prices for both commercial and residential properties will improve in the very near future following the consistently good showing of the real estate market in Abu Dhabi."
The groundbreaking project includes two 35-storey residential buildings (Al-Sharq Tower 1 and Al-Sharq Tower 2), a 7-storey residential building (Al-Seef Residential), and a 7-storey commercial building (Al-Seef Commercial) in addition to the two 300 metere high ‘Iconic’ towers, that promise to redefine the skyline of Abu Dhabi while serving commercial, residential and retail purposes. Exemplifying international standards in architecture and services by commissioning top architects and employing state-of-the-art technology, the development is targeted to become a landmark the Al Reem Island.
Dar Al-Dhabi Project offers the comfort of a modern waterfront lifestyle, proximity to 5-star hotels and a diverse range of leisure and entertainment amenities. “The success of Dar Al-Dhabi Project proves that discerning investors are always on the lookout for the most superior property investments. By bringing together the best of the best, we have realized our vision of creating excellent investment opportunities for our clients, supporting the long-term economic development of Abu Dhabi and offering sustainable benefits for our community,” concluded Al-Ameer.
In addition to its premium location on the marina, Dar Al-Dhabi Project is the only development that will have two adjacent ‘Iconic’ towers—one residential and another commercial, including a shopping mall in the podium. The multi-functional space and special facilities are set to meet the various specialized needs of its residents. After the re-planning exercises of Al Reem Island, Dar Al-Dhabi’s ‘Iconic’ towers will be the largest single plot of its kind on the island.

The ‘Iconic’ towers will be launched at Cityscape Dubai 2008 but pre-registration will be welcomed during Cityscape Abu Dhabi.
 

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Dar Al Dhabi Al-Sharq Towers, Abu Dhabi

Dar Al Dhabi Al-Sharq Towers are two 35 storey residential towers located on Al Reem Island, Abu Dhabi. Designed by KEO International Consultants for Dar Al Dhabi Real Estate the design solution integrates over 800 apartment units within two L-shape forms around a central courtyard. A distinct copper clad mashrabiya creates a screen to disguise the various apartment units and balconies within the buildings, while also offering a sense of warmth and privacy to their residents. The need to provide so many apartments within the building is counterbalanced by creating sky gardens at several locations throughout the tower to provide places for communal gatherings and a connection to nature.

Raj Patel, the Principal Designer for the project states "The buildings promise to evoke a unique presence both during the day and at night as a result of the material and geometric pattern of its screen."


http://profile.imageshack.us/user/eriond52


http://profile.imageshack.us/user/eriond52


http://profile.imageshack.us/user/eriond52


http://profile.imageshack.us/user/eriond52
 

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could try dla piper or maybe clyde and co. i know some people at both but not sure i can just give out their details. pm me if you need them.
 

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does anyone have any recommendations for a good property lawyer in abu dhabi? to date there has been no construction on this project. it was launched and sold in 2008 with completion dates set for 2011. currently the site remains a lifeless dustbowl.
Hi,

Sorry for this late reply but I am also having problems with a Najmat project (time towers - same situation as yours, project delayed for over two years...). I was wondering if you managed to get the details of a good property lawyer. If so, would you mind sending me his details. Thank you
 

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Hi

Was wondering if anyone is an investor with DAD Holdings, I purchased at their Al Seef Development and have now been told my Reem Investments that they are building on reem island, does anyone have any information they could share?

Kind regards
 
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