A consortium of German companies has announced the creation of a key development in Dubai. The Cube, a project valued at more than $70 million, will be part of Dubai Sports City.
The Cube project, led by Trend Capital, the German issuing house, is one of the first residential buildings to be announced in Dubai Sports City. This is the first example of German investment in the city of Dubai.
According to Frank Simon, general manager of Trend Capital, the group recognised the potential for simple and transparent entrepreneurial strategies in the UAE. He said: “Foreign direct investment in the UAE is finally picking up some pace and we have identified the potential for companies like ours.
“Also, we believe the guarantee of European best practices will serve as a quality assurance for our buyers outside the UAE: there are enormous investment potentials in Dubai and our global track record will ensure a safe financial environment for our investors.”
Details of its design will be announced when the apartments go on sale in November but the cutting-edge design will stand out in the environment, according to the architectural firm behind the project, BRT from Hamburg.
Jens Bothe of BRT, said: “In a market as buoyant – and competitive – as Dubai, design has been a principal focus for us from the start. With a city as full of landmarks as Dubai, we have had to invest considerable design time in creating something that is future-proof, yet still stands out in the landscape.”
Engel & Völkers, the European-based luxury real estate group, is bringing The Cube to the market. Franz Schedlbauer, CEO Middle East for Engel & Völkers, said: “Sports City as an integrated destination is starting to make a lot of noise internationally, and we believe it will prove to be a destination of note when we launch pre-sales of The Cube next month.”
While BRT will continue overseeing the design of the tower, BMG, a Berlin based company, was selected as the contractor.
In brief: The Cube project
Located in the hearth of Dubai Sport City, The Cube will benefit from the vicinity of the three main stadia as well as enjoying views of the waterways of the “Arabian Canal”.
The Cube takes its name from the intricate structure which guarantees maximum exposure to light and provides the perfect setting for healthy living and a sporty lifestyle. All apartments will be fitted with balconies, interior multimedia and high-tech finishes and amenities of the highest German standards.
