Damac's The Residences tops out in Business Bay
21-story mixed-use project commences exterior cladding and fit-out
Developer Damac Properties has announced that it has topped out its 21-storey mixed-use The Residences near the Burj Khalifa. Work has now commenced on the external cladding and interior fit-out.
“The Residences has all the hallmarks of a premium property investment, with excellent facilities, quality finishes and a superb location on the waterfront, opposite the Burj Khalifa,” commented Niall Mc Loughlin, senior VP at Damac Properties.
The developer remains strategically-focused on Business Bay, with construction advancing at a rate of 14 floors a month across the company’s seven active construction sites.
Sun Engineering is the main contractor for Executive Bay and Capital Bay, Modern Building Construction Company is constructing Commercial Square, Water’s Edge and Business Central, while Drake & Scull subsidiary Gulf Technical Construction Company is the main contractor for Park Central and The Corner.
Damac Properties has completed two premium office towers in Business Bay, XL Tower and Business Tower. The main contractor for both projects was Hong Kong-based CSHK.
With 36 buildings, including 7,374 units completed to date, Damac Properties continues to be a major contributor to Dubai’s real-estate revival.