Business | Property
Pearl Dubai begins work on $4b project
Pearl Dubai FZ LLC, a consortium of investors led by Al Fahim Group, on Sunday broke ground for Dubai Pearl, the $4 billion mixed-use development, located in the heart of Dubai Technology and Media Free Zone.
- Staff Report
- Published: 23:39 June 8, 2008
Dubai: Pearl Dubai FZ LLC, a consortium of investors led by Al Fahim Group, on Sunday broke ground for Dubai Pearl, the $4 billion mixed-use development, located in the heart of Dubai Technology and Media Free Zone.
Senior officials from Dubai Pearl and Tecom Investments including Abdul Latif Al Mulla, Group CEO of Tecom; Ali Bu Ruhaima, Chief Officer Asset Development Zoning Authority of Tecom; and Abdul Majeed Al Fahim of Pearl Dubai were present at the ground breaking ceremony.
Pearl Dubai recently received the mobilisation and excavation permits for the works. Dubai Pearl's 1.7 million square feet of plot size will have a built up area of 17 million square feet.
The anticipated concrete quantity is 1.2 cubic metres with an aluminium facade spanning 200,000 square metres.
The preliminary piling test has already begun in mid-May, while the main contract is in the tendering stage, with bids expected to be submitted in July, 2008.
Dubai Pearl will combine an active business district with quality urban lifestyle, offering easy access to premium commercial and residential areas such as Dubai Media City and Dubai Internet City, as well as Jumeirah.
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