Khuyool Investments has announced plans for its US $136 million (AED500 million) Abjar Tower development in Dubai.
The 62-storey residential building will be constructed in Jumeirah Village South. It will comprise a mix of one, two and three-bedroom apartments and four penthouses across a total floor area of over 57,000m2. The building will include a 24-hour IT-enabled security and fire management system and an IP-enabled information backbone and wireless broadband that will connect the entire building.
The tower was designed by international architect Raphael and Agostine; Ali Moosa & Sons is responsible for the MEP installation on the project.
Abjar Tower forms part of Khuyool’s planned $2.18 billion investment in Dubai-based real estate projects.
“We are developing properties in emerging areas like Jumeirah Village, and Downtown Jebel Ali,” explains md Kussay Al Sheikh. “We have earmarked a budget of two billion Dirhams ($0.54 billion) in Jumeriah Village and a one billion Dirhams ($0.27 billion) investment plan for Downtown Jebel Ali,” he adds.
The firm is planning further investments of over $5.4 billion in international real estate markets of India, Pakistan, UK, Syria and Jordan and is exploring investment opportunities in Dubai International City and Dubai World Central.