Aldar Properties and Millennium Development International will lead the development of the new multi-billion dollar Iskandar Financial District (IFD), located in the southernmost tip of Malaysia, adjacent to Singapore.
The development will be undertaken on behalf of Global Capital, an investment entity representing prominent Gulf and Malaysian Investors.
As the lead investor in Medini Iskandar, Global Capital - made up of a Mubadala consortium of investors that includes Aldar, Malaysia Ventures, Unity Capital, United World Infrastructure and Iskandar Investment Berhad - has collectively committed more than $848 million in the land and infrastructure development within Medini Iskandar.
The IFD will be the new heart of Medini Iskandar Malaysia, an integrated development area in the Iskandar Development Region, itself a premier econ-omic growth region promoted by both national and local governments as a strong and sustainable metropolis of international standing.
http://www.gulfnews.com/business/Real_Estate_Property/10247478.html
Wednesday, September 24, 2008
Tuesday, September 16, 2008
ACC secures Dh520 million contract for residential towers in Pearl Qatar
QACC, a subsidiary of Arabian Construction Co. (ACC), has been awarded an estimated Dh520 million ($142 million) contract to build residential buildings at the Viva Bahriya district on the Pearl-Qatar in Doha.
Known as VB 29, the project involves the construction of a 20-storey residential tower with a two-level podium, a five-storey apartment building, and town houses.
The total built-up area is 91,000 square metres and the construction duration is expected to take 26 months.
This is the second contract that the project developer, United Development Company (UDC), has awarded QACC.
QACC's General Manager said that the company was honoured that UDC continues to trust and support the quality of its work.
ACC's first project with UDC in 2006 was a Dh622 million ($170 million) project consisting of two mixed-use towers, also on the Qatar Pearl project.
QACC is constructing a total of five towers on the Pearl for UDC, First Qatar Real Estate and UAE-based Capital Investments.
Viva Bahriya is being touted as "the perfect location for family living, celebrating the essence of the Northern Mediterranean." The family destination wraps itself around a harbour and is bordered by a clean white beach. Moroccan styled townhouses and apartments with their Moorish elegance offer 360-degree views across the harbour and towards the beach. Residents and visitors will be able to enjoy the landscaped marine promenade, have access to a wide range of water sports and a variety of gastronomic and shopping opportunities.
Known as VB 29, the project involves the construction of a 20-storey residential tower with a two-level podium, a five-storey apartment building, and town houses.
The total built-up area is 91,000 square metres and the construction duration is expected to take 26 months.
This is the second contract that the project developer, United Development Company (UDC), has awarded QACC.
QACC's General Manager said that the company was honoured that UDC continues to trust and support the quality of its work.
ACC's first project with UDC in 2006 was a Dh622 million ($170 million) project consisting of two mixed-use towers, also on the Qatar Pearl project.
QACC is constructing a total of five towers on the Pearl for UDC, First Qatar Real Estate and UAE-based Capital Investments.
Viva Bahriya is being touted as "the perfect location for family living, celebrating the essence of the Northern Mediterranean." The family destination wraps itself around a harbour and is bordered by a clean white beach. Moroccan styled townhouses and apartments with their Moorish elegance offer 360-degree views across the harbour and towards the beach. Residents and visitors will be able to enjoy the landscaped marine promenade, have access to a wide range of water sports and a variety of gastronomic and shopping opportunities.
Major residential and commercial project unveiled in Muscat
One more project has been announced in Muscat as the race in the booming property market hots up, especially for apartment blocks.
Ironically the new 65 million Omani riyal (Dh621.35 million) project of Al Qandeel Real Estate Services has been named Old Town and will have 550 residential units in the prime Mumtaz Area in the centre of the capital.
"Units in Old Town are available for GCC nationals," Haitham Al Lawati, Al Qandeel Managing Director, told Gulf News on the sidelines of the formal launch of the project at the Afrah Ballroom of Muscat Grand Hyatt.
'Old Town' is a Residential and Commercial Project, conceived on the tenets of a fully integrated complex, and will be built on a plot of land measuring 36,000 square metres and overlooking Ruwi district.
Al Lawati said that the response was encouraging and even before the formal launch almost 50 units were already booked. "The project is for middle income segment and upmarket and there's ample scope for it to succeed," he claimed.
'Old Town', is strategically located on a hill in Mumtaz area at Ruwi and is designed for construction of multi-storey towers rising up to penthouse on the seventh storey. "We will have 550 flats of two bedroom and three bedrooms," he added.
No restrictions
There will also be a shopping mall area and office premises and a full-fledged health club.
Replying to a question, Al Lawati said that their first such project in Al Shatti area was successful. "We have a team of management people to look after the property once each unit is handed over to the rightful owners," he said, adding that there are no restrictions on owners renting out their premises.
Old Town will have seven blocks, five Residential Blocks of GF plus 5 Floors plus Penthouse. All flats will have spacious areas, with functional and aesthetic designs.
The Bazaar
Block six will feature a commercial and residential area called 'The Bazaar', the ground floor will accommodate a commercial rentable area for excess of 50 shops and the first floor housing 50 offices.
In Block 7, 'Old Town' a full-fledged Health Club, that will contain a swimming pool, tennis court, indoor squash court, club house, children's playground and premium restaurants, in addition to an underground parking facility for up to 1,000 cars. http://www.gulfnews.com/business/Real_Estate_Property/10245329.html
Ironically the new 65 million Omani riyal (Dh621.35 million) project of Al Qandeel Real Estate Services has been named Old Town and will have 550 residential units in the prime Mumtaz Area in the centre of the capital.
"Units in Old Town are available for GCC nationals," Haitham Al Lawati, Al Qandeel Managing Director, told Gulf News on the sidelines of the formal launch of the project at the Afrah Ballroom of Muscat Grand Hyatt.
'Old Town' is a Residential and Commercial Project, conceived on the tenets of a fully integrated complex, and will be built on a plot of land measuring 36,000 square metres and overlooking Ruwi district.
Al Lawati said that the response was encouraging and even before the formal launch almost 50 units were already booked. "The project is for middle income segment and upmarket and there's ample scope for it to succeed," he claimed.
'Old Town', is strategically located on a hill in Mumtaz area at Ruwi and is designed for construction of multi-storey towers rising up to penthouse on the seventh storey. "We will have 550 flats of two bedroom and three bedrooms," he added.
No restrictions
There will also be a shopping mall area and office premises and a full-fledged health club.
Replying to a question, Al Lawati said that their first such project in Al Shatti area was successful. "We have a team of management people to look after the property once each unit is handed over to the rightful owners," he said, adding that there are no restrictions on owners renting out their premises.
Old Town will have seven blocks, five Residential Blocks of GF plus 5 Floors plus Penthouse. All flats will have spacious areas, with functional and aesthetic designs.
The Bazaar
Block six will feature a commercial and residential area called 'The Bazaar', the ground floor will accommodate a commercial rentable area for excess of 50 shops and the first floor housing 50 offices.
In Block 7, 'Old Town' a full-fledged Health Club, that will contain a swimming pool, tennis court, indoor squash court, club house, children's playground and premium restaurants, in addition to an underground parking facility for up to 1,000 cars. http://www.gulfnews.com/business/Real_Estate_Property/10245329.html
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