Deyaar Development has signed an agreement with Dubai Government-owned Investment Corporation of Dubai (ICD), to develop and manage One Za’abeel – the 36-storey mixed-use development which is to be built on the World Trade Center roundabout.
Construction is expected to begin this year with a completion date set for beginning of 2011.
ICD will continue to own the project with Deyaar being developer and manager.
One Za’abeel will consist of three separate residential, commercial and hotel towers interconnected at the top and will have a common podium at the base.
In a first for the region, a highway will run through the development.
One Za’abeel will also be in close proximity to two metro stations. The project will include a residential tower with 450 apartments, a five-star hotel tower with 370 rooms and a commercial tower offering 46,452m2 of office space.
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