Dubai: Villas at the Falcon City of Wonders (FCW) will be offered for sale at the end of the month and construction on some replicas of the seven wonders of the world is planned by year end, a top company official said.
The ambitious falcon-shaped project, spanning 41 million square feet along Shaikh Mohammad bin Zayed Road, will offer reproductions of the wonders of the world, a shopping mall, hotels, residential areas and a theme park.
Currently 214 villas are under construction, of which 100 units are already sold and 114 villas will be launched during the International Property Show on April 30, Salem Al Moosa, chairman and chief executive of Falcon City, said yesterday during a media tour of the project site. The project plans 1,156 villas in total.
The villas, by Modern Building Contracting Company, are scheduled for completion in February 2014.
The project pipeline also includes a shopping mall located on the head of the falcon-shaped city and replica’s of Egypt’s small and medium pyramids that are in the design phase, Al Harith bin Salem Al Moosa, deputy chief executive of Falcon City.
FCW broke ground for a 15,000 square meter community centre yesterday that will include a hypermarket, clinic, pharmacy, restaurants, and a nursery. It is scheduled for completion by August 2014 and contracted by Seidco General Contracting, Al Moosa said.
The entire project will take seven to ten years to complete and is self-funded, Al Moosa said, insisting that funds are available to finish it.
Several sub-cities planned within the project have been sold to sub-developers, including the city of Rome, Venice, London and Paris, Al Moosa said.
The project was announced six years ago during the heyday of the boom years in Dubai. Today, 366 villas are completed with only 308 families living there and infrastructure work including roads, a Dh 125 million power plant and sewage plant are finished.
The company spent a total of Dh600 million on infrastructure for the mega-project whose master-developer is Dubailand, Al Moosa said.
“It simply takes time. There is no magic stick. It is not a matter of money. There were unforeseen circumstances and a lot of problem-solving, that’s why we didn’t go full swing in construction,” Al Moosa said. Al Moosa said the project took time because of the infrastructure work, the financial crisis hindered the market and difficulty finding reliable contractors because most are “busy.”
“We exist, we are here. People think we are not working,” Al Moosa said, adding that the company’s plans will go forward.