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Armada Group to invest Dh1b in three-tower residential project

Gulf News

The foundation-related work for the three-tower residential project from the Armada Group could take about four months, and has a stipulated budget of Dh12 million.

Adnan Safarini has been appointed construction consultant, while APCC will be handling the piling work. The towers will feature 1,200 apartments and will be located at the Jumeirah Lake Towers development from Nakheel.

The three facilities will occupy a space of 200,000 square feet. This will include 21,000 square feet of external and 15,000 square feet of internal retail space.

There will also be 12 luxury penthouses, four to each tower.

The cost of the land has been put at Dh55 million, while the overall investments from the Armada Group could be more than Dh1 billion.

The entire project is scheduled for completion by the first half of 2007.

"The Armada Towers development is a unique concept of three beautifully designed buildings conceived like the blustering sails of a ship and with elegantly curved glass domes," said Dr Mohammad Raheef Hakmi, chairman of the group.

"The studio apartments will be located on each floor facing the front of the building, while the one-bedroom apartments will be available on both sides of the tower."

The two-bedroom apartments measure more than 1,500 square feet, and the three-bedroom units feature areas of up to 2,100 square feet.