Dubai: Omniyat Properties has struck up a partnership with the construction firm Drake & Scull International to develop a project located at the entrance of Palm Jumeirah. The formal launch of One at Palm is to take place at Cityscape Global 2014 in late September.
The upscale residential building, designed based on inputs from architects in New York, Japan and Lebanon, will have apartment units from 2,500 square feet to 20,000 square feet. Apart from projects launched by its master-developer during the last two years, Palm Jumeirah has had select offerings from private developers recently. Property values there continue to hold their own even in the recent slowdown in transactions growth.
“We believe this plot is the perfect location to build with inputs from Dubai, Japan, New York and Lebanon; it will definitely stand out on the Dubai skyline,” said Mahdi Amjad, Executive Chairman and CEO of Omniyat.
Once the project is complete, it will be managed by Omniyat. The enabling works is due to commence within the next two months.
“Our 48 years’ expertise with high-rise projects will prove vital to delivering a project worthy of this prestigious location,” said Khaldoun Al Tabari, Vice-Chairman and CEO of DSI.
