Dubai: Zabeel Investments launches AED 2 billion project
Zabeel Investments Monday announced the launch of its prestigious AED 2.1 billion project, which encompasses Tiara Residence and Anantara Resort, one of Asia’s leading and fastest growing luxury resort brands.
Zabeel Investments is a multi-diversified investment company focused in the areas of commercial real estate development and management, private equity and asset management across a wide range of economic sectors in the UAE, GCC and overseas.
Tiara Residence and Anantara Resort will form a private, gated community located off the main trunk of the Palm Jumeirah.
The Tiara Residence will consist of seven 15 level buildings plus a penthouse floor. The buildings include luxurious and spacious one, two and three bedroom apartments ranging from 1,200 to 2,250 square feet. There will be 238 one bedroom, 210 two bedroom, 182 three bedroom apartments and 14 penthouses. The development will have basement level parking for 1300 cars.
Speaking at the press conference, Mohammed Ali Al Hashimi, Executive Chairman of Zabeel Investments said, “Tiara Residence will redefine the essence of good living offering its tenants an island lifestyle in an exclusive environment. The Anantara Resort will be a distinctive destination epitomising true elegance and style as well as offering the finest traditions of Asian hospitality.”
“Tiara Residence is the first project to be launched by Zabeel Investments and we will be announcing other exciting ventures in the near future”, he added.
The project which is due for completion and handover in December 2007 will have high quality finishes and panoramic views of the gardens, beach and marina.
The Residence will be surrounded by lush landscaped gardens and a tropical forest with streams creating an authentic look of an Asian destination juxtaposed against and overlooking the Arabian Sea.
The architecture of the building represents a contemporary style inspired by its natural surroundings. This will be highlighted with the use of wood as a prominent feature on the exterior as well as forming part of the façade of the buildings. The apartment bedrooms will feature wood flooring with marble flooring in the living and dining room and granite in the kitchen and bathrooms.
A unique feature of the property will be a state of the art integrated audio system featuring discreetly installed speakers in each room, which can then further be connected to a music and home theatre system.
The Anantara Resort Palm Jumeirah is a 244 room hotel that will be complemented by 132 furnished and serviced apartments. The Anantara Spa is the focal point of the resort and will provide a full range of eastern and western treatments and therapies.
William Heinecke, Chairman, The Minor Group, said, “We are delighted to be a part of this prestigious project. Anantara Palm Jumeriah, Dubai will mark our hotel brand’s debut in the UAE and I am particularly proud to be able to present Anantara’s distinctive style of luxury within such a magnificent architectural landscape.”
An innovative finance scheme offered by Amlak Finance PJSC will provide a maximum of 90% finance for up to 25 years to prospective buyers at attractive rates.
The construction works on the project are already underway with Asteco Development Management LLC and Asteco Property Management LLC appointed as the development management company and sole marketing and sales agents for Tiara Residence.
“The Palm Jumeirah has always been a much sought after address by both local and international investors and end users and we are delighted to be part of this luxurious project. This unique, gated community will ensure the buyers of this project enjoy the benefits of the facilities and amenities already provided by Palm Jumeirah while being housed in a private and exclusive environment. Our sales and development management teams are well experienced to handle this development. The attractive payment plan and finance scheme will no doubt make purchasing property on the project simple and stress free,” commented Elaine Jones, CEO, Asteco Property Management.
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