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KM Properties announces Artisan Cluster in Dubai
KM Properties, the real estate branch of KM Holding, on Friday announced an update on its latest project with British architect Sir Terry Farrell, adding to its $6 billion portfolio in Dubai.
- By Suzanne Fenton, Staff Reporter
- Published: 00:05 May 3, 2008
Dubai: KM Properties, the real estate branch of KM Holding, on Friday announced an update on its latest project with British architect Sir Terry Farrell, adding to its $6 billion portfolio in Dubai.
The Artisan Cluster in Business Bay is set over four plots with a combined land area of two million square feet.
This latest venture brings KM Properties' total landbank to nine or 10 million square feet housing seven developments.
The mixed-use development comprises two towers with a total value of Dh1.8 billion to Dh2 billion.
Sir Terry, founder of Terry Farrell and Partners of UK, said: "It's quite interesting in that there's a lot of complicated buildings in Dubai and this one is classically simple."
The project will house 104 exclusive Royal Suites residences. There will be around 800 to 1,000 offices starting at 800 square feet and increasing to 2,000 square feet.
The hotel has been designed to be a centre of modern Arabic art, where visitors are exposed to regional art on every level and will be able to buy pieces of art on display.
"It's interesting to come from China and see the adaptation to change here. These big cities of our time are emerging. It exceeds New York in the 20th century or London in the 19th century.
"No ambition in the world is equal to Dubai at the moment," said Farrell.
Sanjeet Joher, group chief operating officer for KM Holding, said KM Properties will focus on Dubai. "The projects will be mainly in Dubai but also the UAE, Saudi Arabia."
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