Business | Property
Venture formed to build Tiara Towers
Zabeel Investments and United Holdings have announced a joint venture to build the Dh1.75 billion Tiara United Towers on Shaikh Zayed Road.
- Staff Report
- Published: 00:00 December 6, 2006
- Image Credit:
- The Tiara complex will also comprise 50,000 square feet of retail space over six storeys.
Dubai: Zabeel Investments and United Holdings have announced a joint venture to build the Dh1.75 billion Tiara United Towers on Shaikh Zayed Road.
The 61-storey twin towers are slated for completion in 2009 and represent an architectural first for the region.
The project is the first partnership for Zabeel Investments and United Holdings, a Dubai-based holding company with interests in commercial, residential and retail property development, investments in hospitality and recreation projects, as well as areas of finance.
Mohammad Ali Al Hashimi, executive chairman for Zabeel Investments, said: "This joint venture will see a true architectural icon take its place in Dubai's vision. The concept and planning for Tiara United Towers has been under discussion for months; as we looked for new techniques and solutions in order to bring something truly original; another Dubai first."
Tiara United Towers will feature a colouration technique which will have the building appear in multiple colours as the building ascends.
The exterior of the building will also feature veins; like those on a leaf, spreading across the surface from the corners and embracing the building. The scheme of the façade follows the colour spectrum, and as such is the definition of visible light.
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"With Dubai's current shortage of office space, and consistent need for more short stay hotel rooms Tiara United Towers will feed a gap in the Dubai commerce market," added Al Hashimi.
The office tower will comprise 350,000 square feet of leasable commercial space.
Tiara United Towers will feature a robotic parking system with 1,500 spaces. The complex will also comprise 50,000 square feet of retail space over six storeys.
Tiara United Towers will be managed by Asteco Development Management.
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