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Sales Manager - Real Estate
Industry: Property
Location: Dubai, UAE -
General Manager - Property Sales Company
Industry: Property
Location: Abu Dhabi, UAE
Best of the rest
by ArabianBusiness.com staff writer on Thursday, 18 October 2007
A look at some of the biggest and best developments from this week's Cityscape real estate expo.
ETA Star
ETA Star real estate developers showcased projects worth US$1.36bn leading with ‘La Italia' its first mega project worth US$680m. The development will be an Italian themed residential community formed from various clusters including Venice, Rome and London, all of which will be "traffic free" and low rise, according to the company. Located in Dubailand in the Falcon City of Wonders area, ETA Star has previously launched successful projects in various major developments including the Dubai Marina, Jumeirah Lakes Towers, Dubai International Finance Centre, Business Bay and the International Media Production Zone.
Asteco
Formed in 1985, Asteco launched its Four Seasons Ocean Residence at this year's Cityscape. The enormous 48,600 tonne, 719ft vessel comprises of 112 residences. Prices will range from US$4m for a one-bedroom apartment, to US$42m for a multi-floor penthouse, covering an area between 800 sq ft to 8000 sq ft. The maiden voyage is scheduled to take place in 2010, with an itinerary for the first two years that will include visits to Antarctica, the Amazon, London for the 2012 Olympic games and Monaco for the annual Formula One Grand Prix. The vessel will also house spas, restaurants, a casino, gourmet market, putting greens, a golf simulator, retractable marina and a business centre with meeting rooms and video conferencing.
Limitless
Limitless, a mass real estate developer founded in 2005, announced ambitious plans to construct an entirely manmade canal through Dubai, extending 75km from the Dubai Waterfront inland, into what is currently desert, before heading back towards the Palm Jumeirah. The 150m wide, six-metre deep canal is expected to take three years to complete and cost approximately US$11bn. As part of the Arabian canal development, Limitless is planning to launch a US$50bn sister development on the waterfront which will stretch 33km across the inland section of the waterway. Work is expected to commence at the end of 2008 and will be completed in installments across a 15-year period.
RAK Properties
RAK Properties unveiled RAK Tower, a development planned for location Al Reem Island in the Marina square development. The 43-storey tower will cost US$81m and will contain one, two, three and five-bedroom apartments alongside penthouses, all of which will be fitted with smart home technology, including 24-hour surveillance. The company launched its initial project in February 2006, the twin unit of offices and residences, 43-storey Julfar Towers, with completion expected in 2008. This development was followed shortly after by the launch of the US$2.7bn Mina Al Arab in May 2006.
James Law Cybertecture International
Founded in 2001 by James Law, the Cybertecture concept - a striking combination of architecture and innovative technology - is currently involved in the design and development of "The Pad" with Omniyat, located in Dubai's Business Bay.
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