Business | Property
The Palisades parkland deal unveiled
Pearl Properties and Aristocrate Holdings recently unveiled The Palisades, a Dh10 billion mixed-use real estate development.
- Staff Report
- Published: 00:00 November 27, 2006
- Image Credit: Regi Varghese/Gulf News
- Saif Khalfan Al Suwaidy (right), Sami Hennawi, and Mohammad Al Ghafli, officials of Palisades announcing their project.
Dubai: Pearl Properties and Aristocrate Holdings recently unveiled The Palisades, a Dh10 billion mixed-use real estate development.
The project will be situated within Dubai Investments Park with a total area covering 3,200 hectares, home to residential, recreational and commercial usage.
The actual site area of 14.8 million square feet, equates to more than half the land area of Dubai Marina, The project will create Dubai's largest premier private landscaped garden (five million square feet) estate in what was ten years ago uninhabited desert landscape, site works are already underway and construction for the first phase will commence in 2007.
The Palisades will be completed in 2011.
"Following the vision of our leaders who have created a precedence for the rapid expansion of our country, the Palisades project will create an unequivocal first for Dubai.
"This single largest green area hosting businesses, residential communities and retail outlets will position The Palisades concept as the most stunning parkland concept to be launched in the UAE," said Shaikh Issa Bin Zayed Al Nahyan, whose companies, Pearl Properties and Aristocrate Holdings will develop the projects.
Pearl Properties was established 18 months ago.
Dubai-based architects, Storm Associates have been appointed as the master planners.
The project claims 200 years of historical design references, 12 months of conceptual master planning and nearing 1500 days before completion.
Inspiration for the Palisades has been directly taken from the 18th century up until 1900 and I have taken notable background references from the Victorians, the Georgian era and the Edwardian period.
The master plan includes a major retail zone; realised through a Victorian market of mammoth proportion with arcades and colonnades under extensive glass ceilings.
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