Business | Construction
Emaar and Bawadi unveil Asmaran joint venture project at Bawadi
Emaar Bawadi, the joint venture between Emaar Properties and Bawadi, a member of Tatweer Group, has announced the mixed-use components of its first project, Asmaran, a statement said.
- Gulf News Report
- Published: 15:21 May 15, 2008
- Image Credit: Supplied Picture
- The 70 million sq ft project will be a part of Bawadi, located within Dubailand
Dubai: Emaar Bawadi, the joint venture between Emaar Properties and Bawadi, a member of Tatweer Group, has announced the mixed-use components of its first project, Asmaran, a statement said.
The 70 million sq ft project will be a part of Bawadi, located within Dubailand, and close to Dubai's landmarks and easily accessible from the Emirates Road and Dubai Bypass. Emaar and Bawadi LLC will have equal equity participation on Asmaran.
Asmaran's unique location within Bawadi, a spectacular mixed-use destination, and proximity to Arabian Ranches, a signature Emaar project, make Asmaran a strong draw for potential customers looking for homes or business investments.
When completed in phases, Asmaran will be home to over 55,000 people and will feature a family-oriented theme park with a wide range of attractions.
A true celebration of metropolitan living, Asmaran will also have 4 million sq ft of commercial space through three business hubs, and offer 3.2 million sq ft of retailing space – all integrated within lush green landscapes.
The hospitality elements include over 5,300 serviced apartments and nine world-class hotels with over 5,150 keys. The residential community will have over 19,000 residences, comprising mainly villas and townhouses set amidst gardens.
Mr Issam Galadari, Managing Director of Emaar Bawadi said: “The partnership of Emaar and Bawadi LLC for developing Asmaran complements the Dubai Strategy Plan unveiled by UAE Vice President & Prime Minister and Ruler of Dubai His Highness Sheikh Mohammed Bin Rashid Al Maktoum, encouraging strong regional partnerships.
Emaar and Tatweer are two of the leading developers in Dubai, and Asmaran will benefit from the synergies derived from the experience of both to deliver a world-class project managed by Emaar.''
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