Makaseb Holding, a regional development and investment company, has recently announced that it will launch Quattro West, similar to the Quattro Hotel and Business Park development, following an overwhelming response from investors. Both projects, featuring symmetrical towers and mirrored designs, are predicted to become landmark developments within the region.
The move comes as more than 75 per cent of properties from the initial Quattro project were sold within the first three months of being available for purchase. Both Quattro projects are strategically located at the commercial districts of Jumeirah Village South and Makaseb will work in association with Ta’sees, the subsidiary real estate development and investment arm of Tamerat Almousa Group, on the Quattro West development due to be launched in early 2007.
“We are delighted at the success of the Quattro Hotel and Business Park and we hope that Quattro West will be similarly successful. Both projects offer investors a distinctive and unique environment with diverse facilities and their unmistakable symmetry combined with unique design will create an unusual and iconic addition to the portfolio of property developments being constructed in Dubai,” said Hesham Abd Al Ghani, Founder, and Makaseb Holdings.
“The rapid sales of our properties indicate investor confidence in Makaseb despite a very competitive real estate industry. With a solid investment fund and a team of first class architects, master planners and developers, Makaseb Holding is well placed to become a trusted regional leader in the luxury real estate market,” Al Ghani added.
The initial Quattro development is an AED 1 billion totally integrated business, retail and hospitality development that was launched in 2006. Set amidst fully-landscaped parks and boulevards, Quattro encompasses four 30-storeyed towers, with two towers offering dedicated commercial space and the other two towers consisting of 150 hotel apartments, conference and banqueting facilities in addition to a rooftop restaurant. Individual units of 495 square feet and ground level retail space of 60,000 square feet combine to give the overall project a built up area of one million square feet.
Like its predecessor, the lower five floors of each tower in Quattro West will feature shopping malls, a banquet hall, a convention centre, a business centre and a high ratio parking facility that exceeds international standards. The Quattro and Quattro West developments represent the only commercial towers to be attached to hotel apartments and retail outlets within the region.
Both projects are located at the gateway entrance to the commercial district in Jumeirah Village South, with Quattro located in commercial District 17 on Al Barsha road and Quattro West located in commercial District 18 on Al Khail road. Jumeirah Village South is located in the heart of Dubai between the intersections of Al Khail, Emirates and Al Barsha Road and is a self-sustained community development with an internal monorail transportation system planned to be connected to the upcoming Dubai Metro which will connect all business, residential, shopping and sport centres.
During the launch of the Quattro Hotel and Business Park, a commercial unit was auctioned by Makaseb Holding and the AED 370,000 raised has been divided equally between UNICEF Lebanon and the Sheikh Mohammed bin Rashid Al Maktoum Humanitarian and Charity Establishment.
© 2000 - 2022 Al Bawaba (www.albawaba.com)