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Qatar’s property market maturing well AFP’s project under highly accelerated construction plan Realty Capital announces completion of 5th podium of i-Rise |
Sama Dubai commences construction work on ‘Dubai Towers’
- June 17, 2007, 2:55 pm
Sama Dubai, the international real estate investment and development arm of Dubai Holding, has commenced infrastructure work on the QAR 2.3 billion mixed use corporate towers - ‘Dubai Towers - Doha’.
Ongoing construction work at a cost of QAR 1.5 billion includes advanced enabling (substructure) works and tower piling. Podium piles have already been installed, with the main structure ‘building’ works scheduled to commence in the first half of 2007.
Work on ‘Dubai Towers - Doha’ will begin after the completion of a comprehensive Environmental Impact Assessment study, which has received preliminary approval from the Supreme Council for Environment and Natural Resources in Qatar and has been incorporated into all the design procedures and building services engineering for the towers. Strict adherence to environmentally sound practices and sustainability measures is being enforced by Sama Dubai throughout the phases of construction.
Located on the Corniche in the West Bay area of Doha, the project is set to be one of Qatar’s iconic landmarks and a prominent feature of Doha’s new skyline.
Farhan Faraidooni, Executive Chairman, Sama Dubai said: ‘Sama Dubai is investing significant effort and resources to ensure the infrastructure for the ‘Dubai Towers - Doha’ is best in class. We are also committed to ensuring that our operations, processes, and business model place environmental and social considerations as utmost priorities throughout all the stages of this project.’
The mixed-use corporate towers have been conceived to deliver the complete corporate experience in the heart of Doha’s bustling new business district. Projected to reach a soaring height of 435 meters, ‘Dubai Towers - Doha’ will help enhance the city’s diverse offerings and cosmopolitan character. Providing premium corporate real estate facilities with services and amenities catering to the local and regional business community, the towers will meet the rising demand for first-rate office space, quality residential units and hotel rooms.
Designed by RMJM, an internationally renowned architectural firm, ‘Dubai Towers - Doha’ is set to be a signature landmark within the booming Doha property sector. The 84 plus multi-storey marvel is expected to catalyze the city’s emerging status as a centre for business and commercial activity, as well as a rapidly growing international destination.
Slated for completion in the first half of 2010, ‘Dubai Towers - Doha’ will feature offices, serviced and unfurnished apartments, an upscale retail shopping boulevard, and a luxury boutique hotel. The towers’ components will be complemented by excellent corporate facilities and services, including recreation and entertainment amenities, a health centre, gym, restaurants, ample basement and above grade car parking, designated drop off zones, security services, and 24-hour maintenance system, as well as a superbly equipped business centre with high speed, state-of-the-art connectivity.
‘We are driven by our commitment to the timely delivery of this benchmark project which, once complete, will achieve prominent stature in Doha’s changing skyline, adding considerably to the prestige and reputation of one of the region’s fastest-growing cities,’ added Faraidooni.
The latest technology and construction methods and materials have been adopted to guarantee that the highest international standards are met in ‘Dubai Towers - Doha’. Elements such as jump formworks, composite steel columns, pre-cast floor planks on steel beams, post tensioned slabs, and high strength concrete, have all been incorporated to guarantee an efficient construction process and an unparalleled, high-quality property. In addition, continuous value engineering exercises will be implemented throughout the course of construction to assure the project’s conformity to quality.
Sama Dubai is keen on being an active supporter of the Qatari government’s commitment to placing a greater emphasis on infrastructure development, including tourism projects, residential apartments and commercial facilities in the coming years.
‘Dubai Towers - Doha’ will also contribute to Qatar’s ambitious new tourism masterplan. Underlined by an investment of US$15 billion, the plan aims to establish Doha as a high quality destination for business and tourism. With Doha on course to achieve a target of over one million hotel guests by 2010 , supported by extensive investments in tourism and business activities, further demand is being generated for quality real estate projects, spurring an array of new infrastructure and real estate projects.
With a GDP growth rate of 24 per cent in 2006, the country has witnessed an unprecedented growth in real estate sector caused by the exceptional economic boom and a steady increase in population.
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