Damac launches The Cyclades
Damac has launched its first project called The Cyclades, in Dubailand. The piling and foundation work on the Dh1 billion ($272 million) project is scheduled to start by the year-end and will take another two years for completion, said a spokesman for the project.
Designed in Greek architecture by Group Consult International, Cyclades will be a commercial property comprising a cluster of seven office buildings – Andros, Amorgos, Ios, Milos, Naxos, Paros and Santorini. Five of these buildings will rise up to six storeys with the other two being four storeys high. Tenders are yet to be issued for the various contracts and the main contractor for this prestigious project will be decided in due course of time, said a Damac spokesman.
L&T secures $94.3m UAE contract
Indian engineering and construction firm Larsen & Toubro said it had secured an order worth 4.18 billion rupees ($94.3 million) to build six electrical substations in the UAE.
The project for the Abu Dhabi Water and Electricity Authority would be completed within 18 months.
Fortune Group unveils Crystal Tower
Dubai’s Fortune Group has unveiled the Dh136 million ($37 million) Crystal Tower, its third project in Business Bay.
The commercial tower will offer 300,000 sq ft of office space in modern ambience complete with dedicated retail and recreational areas.
Smart systems for Dubai buildings
Dubai is to implement a smart system project over the next two years to protect over 100,000 establishments, according to a civil defence official.
The project depends on an electronic monitoring system on every building that will trigger the fire extinguishers and report accidents, once they happen, via satellites linked to the civil defence operations room.
So far, 540 buildings, 1,500 houses and 390 flats in two Dubai Marina properties have the smart system.
There will be some 4,600 installations of this kind, in more than 8,000 buildings, including apartment towers, local reports quoted the official as saying.
Al Basateen 90 per cent complete
Sharjah’s ‘Al Basateen’ mega project has reached the 90 per cent completion point of its infrastructure, according to the project’s developers.
Being developed by one of the region’s leading property developers Snasco, the completion of this essential part of the UAE project has been achieved in record time, with its entire infrastructural development expected to be finished by March, said the spokesman.
Officially announced at the end of September, the $500 million Al Basateen Project includes 326 plots with a total area that reaches to 3.5 million sq ft specialised for villas and separated residential units.
It also includes 18 commercial plots, in addition to entertainment centres, schools, amenities and other services, with total area of 2 million sq ft.
Plans for Grand Corniche unveiled
Abu Dhabi has unveiled plans for an iconic downtown landmark, the five-star Grand Corniche Hotel, which will help meet the requirements of the emirate’s business and leisure traveller sectors.
The 35-storey property has been designed by Singapore’s Surbana Consultant to reflect Abu Dhabi’s maritime heritage.
It will be built by Bin Salem Group, a UAE company based in Abu Dhabi, under a lease for the 4,800 sq m site in the fashionable Khalidiya agreed with the UAE capital’s Tourism Development & Investment Company (TDIC).
To be built at an approximate cost of Dh370 million ($100 million), the hotel is scheduled to open in December 2009.