Al Sharq lays out real estate plan

Al Sharq Investment has announced plans to build US $1.2 billion (AED4.4 billion) worth of real estate in Dubai.

Al Sharq Investment has announced plans to build US $1.2 billion (AED4.4 billion) worth of real estate in Dubai.

One project will be the 100-storey Al Sharq Tower, a residential high-rise designed by Skidmore, Owings & Merrill, on Sheikh Zayed Road.

Also in the pipeline is W Dubai-The Palm, a 400-room resort on the Palm Jumeirah, along with the 35-storey Rawasi Tower and 30-storey Nadra Tower at Business Bay, and the Aqua Dunya Residences, which will feature 1,600 apartments at its Aqua Dunya Resort in Dubailand.

Construction on Al Sharq Tower is slated to begin in April next year.

The two towers planned for Business Bay, which will cost $140 million, will be finished by September 2009, while the $180 million W Dubai-The Palm hotel, along with the adjacent 200 homes, will be finished by December the same year.

In Dubailand, the company has added over 1,600 residences to its water-themed entertainment park, Aqua Dunya Resort, taking its total investment in the Dubailand project to over $1.7 billion.

“To achieve our highest quality standards we partner with world-class organisations, from the start of the project to completion and beyond,” said Steve Tight, chief executive, Al Sharq Investment.

“Distinguised architects, leading construction companies and internationally branded operators are meticulously selected to ensure that we deliver our promise ... and meet our guests’ expectations.”

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