Dubai Investments to Launch AED1 Billion Skyscraper Soon
Dubai Investments will soon start the development of a skyscraper worth AED 1 billion in Dubai, Albayan reported.
The 70-storey project is scheduled for completion in 2020, the company’s managing director and CEO Khaled bin Kalban.
The tower’s engineering designs are ready, bin Kalban said, adding that the company will call contractors to submit their offers soon.
Design & ARchitecture bureau (DAR) is responsible for all the designs of the project.
The new project is located on Sheikh Zayed Road and overlooks Dubai Water Canal.
Dubai Investments (DI) is a world-class company that invests in viable and profitable entities. The company has an enviable track record and has shown leadership in all fields of investment activities in the UAE and the Middle East. With over 20,800 shareholders, and paid-up capital of AED 3.5 billion, it is the largest investment company listed on Dubai Financial Market. Its prudent use of capital and sound management skills enables it to establish, acquire, or strategically participate in successful corporate ventures throughout the region.
The series of developments that has taken place in DI over recent years, such as the increase in the number of subsidiary companies to 47 and the increase in share capital, has grown the business from a relatively small concern to a thriving large-scale company today.
Looking ahead DI plans to expand its existing businesses and simultaneously seek new investment opportunities, specifically in the industrial and real estate sectors. Current business interests span a diverse range of sectors from telecommunications to finance.
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