Abyaar to build Jumeirah’s first freehold development

Published December 3rd, 2006 - 07:37 GMT

Kuwait’s Abyaar Real Estate Development, which recently entered the UAE market with capital investment of US $1.4 billion, is to build the first freehold development in the Jumeirah district of Dubai - one of the most sought after addresses in the emirate.


Designed as a gated community, Acacia Avenues, with an investment value of US $550 million, is reminiscent of the best real estate in the world and will deliver a distinctive and luxurious lifestyle with contemporary, yet feature-filled, sky villas, villas and apartments, gardens and extensive leisure and retail facilities.


Selected to leverage the real estate mantra of ‘location, location, location,’ Abyaar believes the 94,000 square metre Acacia Avenues, adjacent to Knowledge Village and ready for full occupation in the first quarter of 2009, will deliver significant investor capital appreciation.


“This is a premium site with excellent connections to Dubai’s commercial centres,” said Marzooq Al-Rashdan, Managing Director, Abyaar. “Acacia Avenues will live up to Abyaar’s corporate ethos of building excellence by delivering urban convenience, luxury and privacy with access to a first-class road network and the planned Dubai metro.”


And, in a move designed to ensure long-term quality integrity, Acacia will be managed by award-winning Banyan Tree Hotels & Resorts, under the Angsana Resorts and Spa brand.


Designed as a first-class community, with pedestrian access throughout, Acacia Avenues will feature premium facilities including a luxurious health club, swimming pools, spa, squash courts, children’s play areas, cafés and shops.


Five star hotel style services include 24 hour room service, concierge and pre-concierge services, transportation and chef and private butler options that will complement the build integrity to provide a truly superior living experience that heralds the arrival of contemporary urban living in Dubai.


Designed by award winning Italian architect, Matteo Nunziati, who is under exclusive contract to Abyaar in the Middle East, the properties will feature floor-to-ceiling windows which cleverly link the outdoors to interiors.


All Acacia Avenues properties will be finished to the very highest luxury standards - from furniture to lighting - each being conceptualized and manufactured by an elite group of specialists.  Superior craftsmanship, quality materials and innovative design solutions symbolise the work of lighting specialists FontanaArte, door specialists Lualdi Porte, and furniture specialists Poliform and FEG.


“I chose to partner with Abyaar because of its determination to be distinctive, and its total quality commitment.  Every design detail has been meticulously considered to realise elegant and refined concepts of total aesthetic coherence,” said Nunziati.


Acacia Avenue’s initial phase provides a range of accommodation including ‘Olgana’ -137, freehold, one, two and three bed-room apartments - and 50, five and six bed-room villas.  The subsequent phase, ‘Hilliana’, will house approximately 137 freehold serviced apartments.


With a range of payment options - including phased instalments and 60% payment on completion - provided by leading financial institutions, investors are guaranteed a flexible, Sharia compliant, financial solution.


Abyaar has joined forces with other leading specialists including NorthCourse Leisure Real Estate Solutions, one of the world’s foremost hospitality consultants, to provide a full spectrum of advisory services and research including: project feasibility, design and  sales and marketing support and Pulse Holdings which will develop Acacia’s retail offerings with new-to-market and designer brands brought to the mix.


Abyaar will be exhibiting at this year’s Cityscape – the B2B real estate exhibition being held at Dubai World Trade Centre next week in Hall 8, Stand no 30d.

© 2006 Al Bawaba (www.albawaba.com)

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