Armada to invest Dhs1b in 3 Dubai commercial towers
The Armada Group, a leading investment group in the UAE, has announced its plans to construct three Armada Towers located on Nakheel’s Jumeirah Lakes development, housing 1,200 apartments at a cost of AED 1billion. The project will occupy a total space of 200,000 square feet with the cost of land totalling AED55 million said a press release.
Adnan Safarini has been appointed as construction consultants and APCC has been given the contract to handle piling work. The laying of the foundations is expected to take around four months, with a budget of Dhs 12 million.
The Armada Towers are freehold properties, offered throught the incentives of financial packages and residency visa sponsorship. “The towers will be the most contemporary of all buildings in the Dubai Landscape”, said Armada Group chairman Mohammed Raheef Hakmi. “The Armada Towers is a unique concept of three beautifully designed buildings, conceived like the blustering sails of a ship with elegantly curved glass domes” he said.
The Armada Towers, situated off the Sheikh Zayed Road next to Emirates Hills and Jumeirah Islands, will have 21,000 square feet of external and 15,000 square feet of internal retail space, with the allure of first class shopping facilities. The development will also house 12 luxurious penthouses, four in each tower. The complex will have services like health clubs and specialised restaurants and apartments will range from stylish and compact studios to more spacious 1, 2 and 3 bedroom properties.
Source: Gulf Today Business Section
- 22nd Aug 2004
- Dubai Property News
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