|Real Estate News|
Luxury lifestyle provider Damac Properties Dubai has announced that enabling works have been completed on site at its Executive Bay development at Business Bay in Dubai.
Tenders to commence the main construction work on the twin tower project (one 18 storey high and the other at 20 storey) are currently under way with construction expected to commence shortly. Executive Bay is one of eleven properties that Damac Properties has planned for the Business Bay area.
The site has been shored and excavation for basements completed, by the enabling works contractor Al Habtoor STFA for the development which will include a shopping arcade on the ground floor together with state of the art office space overlooking a waterfront location.
Damac Properties’ eye catching Executive Bay towers will feature hi-speed internet connectivity, security, and recreational facilities, such as a gymnasium, health club facilities and swimming pool. . Each tower comprises a series of three interconnected triangular buildings and will have a common landscaped courtyard and café.
Welcoming the progress on site at Executive Bay, CEO of Damac Properties Mr Peter Riddoch said that the next stage of construction would begin as soon as tenders had been assessed.
‘It is pleasing to note that we are in a position to go ahead with construction as soon as we have appointed the successful contractor,’ he said.
Damac Properties will eventually have a total of eleven projects in the Business Bay area. The company has also recently announced that its XL Tower development has reached Podium 3 level and enabling works have also been completed at both its Capital Bay and Park Central projects.
Business Bay will eventually cover an area of 64m square feet along the banks of the extended Dubai Creek and is expected to attract a number of regional and international companies. It has been designed as a commercial and business cluster in line with Dubai’s growing global business community base and will be similar in nature to Manhattan in New York with upscale residential complexes also available on site.
Mr Riddoch added, ‘We are delighted to see progress at so many of our sites across Business Bay and know that reaching these different milestones is important for our customers who have invested in these properties at such a prime location and are looking forward to seeing them rise in the skyline over the next year. We believe that Business Bay will gradually become known as one of the best locations in the world for international businesses and we look forward to being at the centre of this exciting new development in Dubai’s future.’