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Azizi Investments confirmed purchase of land at Mina Rashid Arabtech Construction to construct Dubailand Project Radisson SAS Residence, Dubai Marina opens luxury apartments |
DEC hikes investment in Culture Village projects
- July 25, 2007, 6:50 pm
Boosted by the high-demand, continuously-peaking real estate development sector in Dubai, Dheeraj & East Coast L.L.C. (DEC) - the joint venture between India’s Wadhawan group and the UAE’s East Coast group - is increasing its investment in the prestigious Culture Village of Dubai to AED 700 million with another residential development in the pipeline.
DEC’s three projects in Culture Village include Cascade Ville, Cascade Manor and The Estate.
Mr Dheeraj Wadhawan, Managing Director of Dheeraj & East Coast L.L.C. said ‘Dubai, which is on course towards becoming the city of the future, has become a magnet for businesses and home-owners worldwide. The Emirate is currently witnessing a tremendous demand for both residential and mixed use projects. This latest addition to our existing three projects in Culture Village reflects our confidence in this market and its potential for delivering sustained returns.’
Pointing out that DEC’s fourth prestigious project in the Culture Village would be launched before October 2007, he said the increasing market demand, alongside the fact that DEC possessed more free space to develop more projects, had necessitated the creation of this additional development which would be developed on the lines of the existing Cascade Ville project with the unique ‘waterfall’ feature.
Mr Wadhawan, said the residential projects - Cascade Manor and Cascade Ville - were 70 per cent soldout with ‘The Estate’ mixed-use project not far behind in this regard. Even with the fourth project coming up, DEC’s Culture Village offerings will be completed on back-to-back basis and set for handover to tenants by 2009 end, he stated.
He observed that Culture Village’s unique location was responsible for the popularity and sellout of DEC’s development offerings. Its proximity to Festival City, the existing airport, Garhoud Bridge and other important city points besides also the coming-up Dubai Metro, presented buyers the ideal choices for settling down in this part of Dubai, he added.
Culture Village is being showcased as a spectacular world-class destination that combines old-world pleasures with a modern, urbane atmosphere, and is divided into residential, commercial and retail zones incorporating the rich heritage of Dubai. The Village highlights wide open spaces alongside traditional wind towers overlooking cobblestone walkways that pass through meandering waterways and artistic bridges.
The Village is home to DEC’s Cascade Ville, Cascade Manor and The Estate, besides the latest residential offering. Cascade Ville is coming up as a majestic, seven-storied residential community comprising tastefully-designed one to three-bedroom apartments, state-of-the-art health club and gymnasium, retail boutique and café and 24-hour security, besides frontal waterfalls.
Cascade Manor highlights a mélange of modern and old world charm, community lifestyle in its eight-storied structure that incorporates one, two and three-bedroom apartments, unique architecture, wi-fi system and a park with landscaped gardens.
The Estate is a mixed-use project blending traditional Arabic architectural styles with modern construction technologies to create a mix of distinguishable residences and contemporary offices, which feature intelligent design concepts targeted towards a unique and vibrant community lifestyle. The Estate’s residential section comprises a 21-storey high-quality development offering choices from studios to one-two-three bedroom apartments, while its commercial side features offices overlooking a cultural view amidst flexible office sizes, round-the-clock security with CCTV monitoring and Wi-fi system.
These four projects are among DEC’s 18 projects in the prominent and highly-sought business areas of Dubai and include its flagship venture - the AED 450-million DEC Towers - and Marina Wharf I and II which are located in the prestigious Dubai Marina. DEC Towers is a semi-mixed use real estate project in Dubai Marina, while the Marina Wharf features residential living including themed restaurants, boutiques and even a bowling alley.
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