Dubai: Sales have opened for the 345-metre high Al Habtoor Tower in Dubai, which on completion will take its place among the world’s residential skyscrapers.
Located on Sheikh Zayed Road and adjacent to the Dubai Water Canal, the project is valued at Dh3.7 billion. The 82-storey structure will have a built-up area of 327,000 square meters and feature 1,701 housing units, including 22 sky villas. The sky villas are from Level 76 upwards.
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One-bedroom apartments are priced at Dh2.1 million, two-bedroom from Dh3.5 million, and three-bedroom units at Dh4.7 million. The price of the sky villas are yet to be announced.
“There are people who wanted to buy the entire building - we said no,” said Mohammed Khalaf Al Habtoor, the Vice-Chairman and CEO of Al Habtoor Group.
The three amenity floors (on the 8th, 47th and 70th) include Infinity pools and leisure decks. The 8th floor will have a 270-degree outdoor and separate indoor tranquillity pool.
“We’re hoping for a three-year handover,” said Thomas Murdoch, Deputy General Manager of Al Habtoor Real Estate. “We are already at around the 10-11 per cent mark. We are not worried about supply chain challenges either - we trust our contractor to get the job done.”
About three weeks ago, China Railway 18th Bureau Group Ltd. was awarded the contract from among 10 bidders.
“There’s been a large number of expressions of interest, confirmed pre-bookings from exclusive partners, and those that got ahead of the game,” said Murdoch. “The job now is to finish those and move on to the public sales.”
Al Habtoor said: “With all the retail and recreational facilities on offer, Al Habtoor Tower will be a vertical city withinAl Habtoor City. This interest reflects the strong demand for Al Habtoor Group's brand and maturity of Dubai's residential property market."