Residence bids by year end

Tenders for the US $65.3 million (AED240 million) The Residences project, which was launched last week, are expected to go out in December.

Al-Duaa and A&A Investment are developing The Residences and Dimensions Engineering is the project consultant.
Al-Duaa and A&A Investment are developing The Residences and Dimensions Engineering is the project consultant.

Tenders for the US $65.3 million (AED240 million) The Residences project, which was launched last week, are expected to go out in December.

UAE-based property developer Al-Duaa Holdings and A&A Investment Company are developing the project.

The consultant for the project is Dimensions Engineering Consultant, which has also designed the project.

Construction work will begin in December and is expected to be completed by December 2010.

The 10-storey project will be located in Dubai's Jumeirah Village and the plot area for the development is 1700m². The residence will take up an area of 16,202m² while retail space will span 31.22m² with parking covering 9.31m².

The project will include 145 units, including 23 studio apartments, 95 one-bedroom apartments, 21 two-bedroom apartments and seven lofts.

According to the developers, the project will have easy access to Dubai Marina, Dubai Internet City and Dubai Sports City.

"We took special care in the design phase to make sure that the unit layouts reflect unique features that provide a sense of individuality to them," said Noreen Khan, marketing director, Al-Duaa Holdings.

"With its design, amenities and large living space, The Residences enjoys its own level of privacy, daytime natural light and views of the city.

The Residences is also close to Dubai's three main transportation arteries: Sheikh Zayed Road, Al-Khail Road and Emirates Road.

According to recent studies, the demand for residences in Dubai is expected to grow by an estimated 24,000 units by the end of 2008 and potentially by a further 45,000 units by the year 2015 to meet the expected 1.4 million increase of the population.

Al-Duaa plans to launch its ambitious project, Al-Duaa World Islands, on the World Island in September 2008.

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