Emirates Financial Tower - July 26 Construction Update

Emirates Financial Towers, Dubai International Financial Centre (DIFC)
The proposed development on Dubai International Financial Centre (DIFC Plot CP-06)

will be a mixed development with 61,300 sqm of Gross Floor Area, and over a million square feet of gross building area.

The massing of the project will consist of two towers linked by a tubular glass sky bridge. Both almost identical towers will sit on a four-storey podium and a four-storey basement. The podium will comply with the master plan for DIFC in that it will be physically attached to the neighboring plot as well as the retail mall. Below ground, the basements are intended to allow links to the central services, parking and services along the central spine of DIFC.

The elliptical plan profile will allow the shape of the towers to appear different depending on the angle at which the development is viewed from. The sky bridge will also be a distinct feature both from within and beyond the development.

The Towers and Sky Bridge
The two towers are elliptical in plan profile and identical in height. Both towers, each twenty seven-storeys high, will be commercial offices. Piercing the two towers at the 18th floor is the glass tubular sky bridge, which will house a commercial club.

The Podium
The podium and basement will contain the retail component and parking for the entire development. This parking will be able to accommodate four hundred cars.

Part of the podium abutting the retail spine is designed as terraces that will allow light, air and greenery into the retail elements. This will allow opportunities to enliven the retail experience with waterfalls, landscaped features, natural light and outdoor activities such as al fresco dining.



Conclusion
The sensuous and aerodynamic curves of the tower will complement yet distinguish itself from the hard edge buildings increasingly common in the competitive Dubai Skyline. The sculptural profile of the elliptical towers, the sky bridge, and the distinct angles of tower tops will allow the development to define its presence and identity while adding and complementing Dubai's already impressive skyline and cityscape

Skygardens Luxury Residential Project in Dubai Completed

Dubai, UAE - Amlak Finance PJSC, the largest real estate financier in the Middle East, today opened the doors of Skygardens for an exclusive viewing by the media. Skygardens is the first ready to move-in high-rise residential tower located at the heart of Dubai International Financial Centre (DIFC). This spacious architectural masterpiece has been completely designed by Fendi Casa, the world renowned house of style, and the apartments will bear its double-F insignia.

Speaking during the media tour Mr. Arif Alharmi, Chief Executive Officer, Amlak Finance PJSC, said, “This is a unique address brought by Amlak to all our customers, a one of its kind ready to move in development to be completely designed by Fendi Casa. The tower consists of spacious contemporary apartments of different sizes to suit individual requirements, intertwined with exquisite gardens and plenty of open spaces.”

The residences, ranging from a studio, one, two bedrooms, duplexes and penthouses have spectacular views of Emirates Towers, The Gate and Burj Dubai. There are a total of around 500 units with five typical floor layouts. Adding to this there are five exquisite gardens, each with their own distinct character, lighting, and design.

Alharmi added, “We will soon be retailing the units in the UAE as well as international financial centers that are of strategic importance to DIFC such as London, Singapore, Hong Kong, Tokyo and Germany. We will offer competitive financing packages to our customers who are interested to invest in Skygardens”

The deluxe 39-floor tower, developed by Mazaya Real Estate, is the first residential building to anchor the DIFC and includes extensive landscaping with park-like environment as well as unparalleled luxury lifestyle. Skygardens is located south of the Gate and Emirates Towers, our most prestigious neighbors and moments drive from Sheikh Zayed Road and Emirates road connecting Dubai with all other emirates.

Dubai property prospects are more appealing

As fast as the market is moving and as fast as new residents arrive in Dubai so more news emerges about the property market, investment returns and potential, mortgages and title deeds in the UAE.

This article brings you some of the latest property news from Dubai to keep you up dated and to ensure that all your buying decisions are fully informed.

The title law situation in the UAE is believed to be moving ever closer to resolution. The current unsatisfactory state remains that while it is not illegal for a foreigner to hold freehold title it is neither explicitly legal. Experts in the UAE property market agree that 2005 will be the year that a federal property law is finally passed to back up Sheikh Mohammed bin Rashid Al Maktoom’s 2002 decree to allow foreigners the right to own freehold title in Dubai.

The passing of the law will be yet another booster to the already booming market and will provide increased consumer and investor confidence in the market in Dubai. Most see the passing of the law as simply tidying up loose ends, they do not see it as a momentous occurrence as they implicitly trust the statements relating to foreign freehold ownership rights that have been issued by Dubai government officials and Crown Prince Sheikh Mohammed bin Rashid Al Maktoum and Al Abbar.

The finance deals and mortgages available in Dubai are slowly improving and developing as the mortgage market matures. Local and international lenders are looking to increase lending, and it is believed that as the Dubai International Financial Centre attracts more financial institutions to the Emirate so diversification in the market, mortgage choice and competition for customers will benefit the consumer and keep interest rates stable.

At the moment those looking for financial assistance with property purchase are sincerely advised to shop around because fees and rates can be quite high and some lenders can be more or less flexible than others. Furthermore, those seeking assistance should try to have a mortgage at least agreed in principle before placing a deposit on their preferred property to avoid any disappointment.

The Dubai International Financial Centre (DIFC) has attracted massive early interest and it is expected that all the world’s leading financial players will seek to establish a presence there. There have already been some properties released for sale within the Centre and there are expected to be significant further developments of luxury apartments. Judging by the nature and price of property in the financial districts of New York, London and Tokyo, property within the Centre and surrounding districts are expected to command the highest price per square foot of all property in Dubai and the rental potential of such property is also expected to be massive according to property experts in Dubai.