Work begins on $111.6m development in Dubai’s JVC
Conceptualised and owned by HNI Clients Real Estate, the project was designed by Araco and is being constructed by Ghantoot Gulf Contracting Company
Ground-breaking has taken place on the site of a new six-tower residential complex designed by Abdul Rahim Architectural Consultants (ARACO).
Located in Jumeirah Village Circle (JVC), in Dubai, the project is valued at $111.6m (AED410m) and spans 9,290.3m2.
The project is expected to be completed within 17 months. According to Araco, to achieve this, construction on all six sites started simultaneously under its supervision.
In addition to its supervisory role, Araco’s scope of work included architectural design, MEP and structural engineering, and obtaining the necessary licences from all relevant bodies.
Commenting on the project, Rahim Lari, managing director of Araco, said: “The six buildings will each comprise a ground floor, four levels of parking above ground, 15 storeys, and the floor area. The buildings will add a total of 772 apartments to JVC, consisting of 75 studio units, 655 one-bedroom apartments, and 42 two bedroom apartments.
“The development will offer residents a view of the gardens and parks in JVC, and will also provide integrated services, such as play areas for kids, fitness spaces, swimming pools, and parking for all residents.”
In a statement, Araco said that it has completed the designs for the buildings, making sure that they adhere to local and global environmental standards.
The company added that it also incorporated existing and future design trends by exploiting the internal space of the apartments, so current and future real estate market requirements can continue to be met.
Araco further revealed that is has obtained approval for all plans for the buildings and the necessary licences from the relevant authorities.
“Real estate in Dubai continues to be an attractive investment, and our participation in this project underlines our trust in the emirate’s economy, as it continues to provide the highest return on investment of any market in the region,” said Lari.
Conceptualised and owned by HNI Clients Real Estate and represented by investor partner Praveen Sharma, the project will be constructed by Ghantoot Gulf Contracting Company.
For more of Lari's views on Dubai's construction sector, check out his interview with Construction Week, in issue 657, published on 27 May, 2017.