ETA Star providing affordable homes at International Media Production Zone

Published December 20th, 2005 - 07:30 GMT

ETA Star, the property development arm of the ETA Ascon Group, one of the largest business conglomerates in the Middle East, announced Monday (19th December, 2005) the launch of its latest development - “The Centrium” - a unique residential project located on the Emirates Road at the heart of the International Media Production Zone.  ETA Star will also be the first property developer to take the initiative in the UAE’s real estate market by offering customers a unique lifestyle on a reasonable budget.The announcement was made at a press conference held at Park Hyatt Hotel, Dubai.


“The Centrium” offers a first-of-its-kind 95 per cent finance option to its customers, thereby making sure that owning an apartment in Dubai is within the reach of salaried expatriate professionals. ETA Star is working with Tamweel to provide a wide array of financial options to property buyers.


Designed to cater to the growing demand for middle-income housing, “The Centrium” encompasses four distinctive towers. The project comprises meticulously planned, spacious one, two and three bedroom apartments, and combines elegant interiors with lush green landscapes. The four tower blocks are inter-connected by link bridges, which offer stunning views to the landscape deck, the adjacent parks and the city beyond.


Speaking at the press conference, Abid A. Junaid, Executive Director, ETA Star, said, “Distinctive design, uncompromising quality and a strategic location make ‘The Centrium’ the most desirable address in the growth corridor of new Dubai. The project is targeted at the salaried professionals residing in GCC countries, who account for a significant percentage of population desiring their own home. ‘The Centrium’ will afford residents a unique lifestyle at a reasonable price.”


“The project’s modern building management system and the intricately designed landscaped leisure deck with ample residential lifts make the property most living-friendly. Also, “The Centrium” designed to meet the needs of the physically challenged too. This indicates the detailed planning that has gone into shaping the project,” Junaid added.


“The Centrium” features a host of leisure facilities, such as a temperature-controlled swimming pool, jacuzzis, kiddie pool, separate gym and health club for men and women, jogging tracks located at a landscaped deck, children’s play area and a sprawling parking lot. Other facilities include prayer rooms, library, reading room, games room, billiard room and a day care centre.


Commenting on the financing structure for “The Centrium” project at the press conference, Adel Al Shirawi, CEO of Tamweel, said, “The synergy between Tamweel and ETA Star was obvious post the launch of our tie-up earlier this year. That is why we decided to further develop our partnership through exclusive products and promotions that will allow customers of both organizations to reap the benefits of this fruitful venture.”


“Tamweel is proud to announce its support for ETA’s latest project – “The Centrium”, wherein 95% finance facilities are being offered to prospective buyers. With our vast array of customized mortgage solutions and services, we are confident that we can make it easier for anyone to own their dream home.” Shirawi added.


The IMPZ is the first free zone in the world dedicated to media activities. Located on the Emirates Road, IMPZ is spread over 43 million square feet of area. The strategic location of IMPZ places it in close proximity to the upcoming Jebel Ali Airport, Dubai Sports City, Dubailand and Global Village, and in the neighborhood of high-end residential developments such as Emirates Hills, Jumeirah Islands, Jumeirah Village, The Springs, The Lakes, The Meadows, The Hills, Green Community Village and Arabian Ranches.


Hamad Al-Huraiz, Director of Operations, IMPZ, said at the press conference, “High-quality residential facilities like “The Centrium” form an integral part of IMPZ’s efforts to establish a complete community infrastructure for the media production industry to flourish. IMPZ is keen to partner with leading companies to create the right facilities for talent to flourish. We are happy that “The Centrium” is being developed by ETA Star, one of the leading property development companies in the Gulf, and we are happy to have them on board as a business partner.”


ETA Star Property Developers LLC is the property development arm of the ETA-Ascon Group. The company’s prime objective is to harness the growing commercial opportunity in Dubai's freehold market.

Developments over 5 million square feet of built-up area are already underway and many more are planned over the coming months. ETA Star’s portfolio currently includes prestigious commercial and residential properties such as 23 Marina, Liberty House, Goldcrest Executive, Goldcrest Views - 2, The Belvedere and The Palladium. In addition, ETA Star is developing commercial and hospitality projects at the DMC complex, Palm Jumeirah Crescent, Port Saeed, Salahuddin Road and other prime locations in the U.A.E. ETA star is also developing major residential & info-tech parks in India & Sri Lanka.


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