One of the tallest residential buildings in the world, according to Dubai company Al Habtoor Group, has just been unveiled in Dubai. The business announced on Thursday that the 1,701 dwelling units on the 81-floor Habtoor Tower will have a built-up area of around 327,000 square meters. The height of the tower was not stated.
The project will be situated next to the Dubai Water Canal, not far from the Dubai International Financial Center, and with a view of the Burj Khalifa, the highest structure in the world.
The “multibillion dirham” development’s price wasn’t made public. It will be finished in three years, which would be a “record time.”
As a former contractor and builder, I’m thrilled to be laying the project’s first piles and sharing some of the cutting-edge technical specifics of the building methods utilized in the Habtoor Tower.
I’m also really proud that it will be finished at the finest quality in a remarkably short amount of time.
The corporation stated that it has received proposals from companies in the UAE, China, India, and Europe and is in the process of choosing the project’s principal contractor “based on qualifications and experience.”
A significant reduction in carbon dioxide emissions will result from an innovative construction technique. This skyscraper is distinctive in all respects and can be seen as a learning curve for all constructors in the area.
Some of the most renowned and expansive developments are found in Dubai. The 413.7m Princess Tower and the 392.8m 23 Marina, both in Dubai Marina, are two of its top five tallest residential structures.
After the Burj Khalifa and Marina 101, which is still under construction, the former is the third-tallest skyscraper in the emirate. The Gevora Hotel, JW Marriott Marquis Hotel, Rose Rayhaan by Rotana, Burj Al Arab, Jumeirah Emirates Towers, Address Beach Resort, and The Tower Plaza are seven of the top ten highest hotels in the world.
The most recent launch comes as Dubai’s real estate industry keeps making good progress after the coronavirus downturn. According to official figures, the value of real estate sales in the emirate’s market increased by 80% annually to Dh157 billion ($43 billion) in the first quarter.
Additionally, the total number of transactions increased by 49% to 38,715 during that time. As one more tower to join the UAE’s portfolio, the Habtoor Tower “fits our country’s vision to always be at the forefront of innovation, responsible development, and preserving our world for the next generations.
The $82 Million Apartment Property is Being Built by Samana Developers in Dubai
In order to meet the increasing demand for mid-luxury real estate in the emirate, Dubai’s Samana Developers has unveiled a residential development with Greek influences and a cruise ship aesthetic. A less expensive alternative to staying in hotels is being promoted by the Dh300 million ($81.7 million) Samana Mykonos Signature project in Dubai’s Arjan neighborhood.
Out of the 12 initiatives Samana has planned for the entire year, the 276-unit building is the third project to have been unveiled. In addition to 24 retail units, it is anticipated to be delivered in October 2025.
Buyers in today’s market are savvy and have a wide range of possibilities. It is for this reason that we offer something novel, enduring, green, and reasonably priced.
Dubai’s real estate market has recovered from the Covid-19 outbreak, with demand rising and investors’ interest returning.
As premier property sales increased despite a broader economic recovery, luxury home sales in the emirate reached Dh6 billion in the first quarter of 2023.
The tourism industry, one of Dubai’s main drivers of other industries like hospitality and retail, has also made a strong comeback.
This year, a rising tide of tourists may push the emirate’s annual total of foreign visitors over pre-pandemic levels. According to Dubai’s Department of Economy and Tourism’s most recent data, the city welcomed 3.1 million visitors in the first two months of 2023.
Samana has now unveiled a fresh program for purchasers to generate revenue, allowing them to turn their apartments into vacation homes and sublet them. An additional 8% yearly return from Samana could bring total returns on investment to between 8% and 13%.
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