After coming out from property bubble, Dubai has set very high standards for itself. The people of Dubai will witness something extraordinary in coming few years as the developer of Dubai’s Marina 101 tower – claims to be the world’s tallest residential tower when it opens next year – They said they’re willing to build an even taller tower and beat their own record.
Speaking to Construction Week at the recent Cityscape Global conference last week Sheffield Holdings’ founder Abu Ali Malik Shroff said that his first priority was to ensure that the $355m (AED1.3bn) Marina 101 tower completes next year.
The building, which contains a 32-floor hotel that will be operated by the US-based Dream hotel brand as well as 76 floors of apartments and serviced residences that can be run for investors by the hotel brand.
It is being built by Turkish contractor TAV and was initially expected to complete in 2012. A series of delays pushed this back to April 2014, and Shroff said that following some redesigns after recently signing up Dream as the hotel operator this would now be pushed back to Q4 2014.
The new tower will have almost every entertaining thing that you need, from nightclub to a restaurant. Let’s hope that this recent spike in property industry never dips again.
From Arabian Business
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