Al Fahim-led consortium unveils Dh14b Dubai Pearl masterplan

Dubai: A consortium of investors led by the Al Fahim Group yesterday unveiled the new masterplan for Dubai Pearl - a Dh14 billion project to be built at the Dubai Media and Technology Free Zone (Tecom) overlooking the Palm Jumeirah, officials said.

The project, initially launched by Qatar-based Omnix Group, was re-planned after the new consortium purchased the land from Tecom.

"The project will require investment to the tune of Dh14 billion to be rolled out in phases, in which the investors will invest about 20 per cent," Abdul Majeed Al Fahim, chairman of Pearl Dubai, told Gulf News yesterday.

"The project will have a mix of residential, commercial and retail components, good for a population of 20,000 who will be able to work, live and enjoy in the integrated community.

"As real estate innovators, we are keen to develop Dubai Pearl into an integrated, mixed use, sustainable development with all key components located within 400 metres of each other. The energy and vitality conveyed by the development will foster a close knit community environment and offer premium retail and residential space in a prestigious location."

Expected to be completed by December 2010, Dubai Pearl will combine a business district with quality urban lifestyle, offering easy access to commercial and residential areas such as Dubai Media City and Dubai Internet City, as well as Jumeirah.

Santhosh Joseph, president and CEO, Dubai Pearl, said: "The residential component of the project will include sky palaces with private pools and gardens, sky penthouses, luxury branded apartments and condominiums. It will also feature tower and boutique offices and renowned hospitality brands. Catering to culture lovers, Dubai Pearl will boast a 1,500-2,000 seat state-of-the-art theatre, a luxury fashion precinct within a premier shopping mall, as well as cinemas and multi cuisine food courts."

Facilities

As one of the development's most unique facet, Dubai Pearl Towers will feature climate controlled pedestrian walkways to create a street café ambience with international restaurants, boutiques and urban landscaping.

Technoworld will provide residents and tenants with the latest in technology, including personalised entertainment services, home-to-office seamless connectivity, and a state of the art exhibition hall to showcase the best in global technology and services.