Dubai Pearl construction on track
Dubai, July 6, 2011
The groundwork, foundations, basements and lower grounds floors of the four towers which form the central section of Phase 1 of Dubai Pearl, the mixed-use development, are now complete.
A total of 3.5 million man hours have so far been spent since work started on site and over 60,000 cu m of concrete has been poured on one of the largest construction projects still being developed in the UAE.
The site has maintained an impeccable safety record since construction work began, and according to developer Pearl Dubai and Al Habtoor Leighton Group, the main contractor, there has been no accidents recorded on site and no time lost due to injury.
Designed by Schweger Associated Architects of Germany for Pearl Dubai, a consortium of investors led by Abu Dhabi’s Al Fahim Group, the development will offer a unique destination within the Emirates, a statement said.
A ‘city within a city’, it will comprise a unique mix of high-end residential, retail, hotel, office and cultural space, including a purpose built theatre complex with an 1,800 seat auditorium, capable of hosting major global and regional entertainment events and shows. It will also be the future home of the Dubai International Film Festival.
“Despite recent challenges in the UAE’s real estate sector there is still demand for the right projects being built in the right location,” said Abdul Majeed Ismail Al Fahim, chairman of Pearl Dubai.
“We have continued to build throughout the recent downturn with an ambitious construction programme that remains on schedule. We have already sold 500 residential units, representing 95 per cent of the initial units released to date, to over 40 different nationalities.”
“The market continues to improve, albeit slowly, but given the size and scale of this development, we can expect to see confidence continuing to grow as we start completing Phase 1 of the development towards the end of 2013,” he added.
“In the meantime, with construction continuing on site, people can now see the superstructure rising above the bridges and roads that surround the Dubai Pearl site which is located at the base of Palm Jumeirah. Dubai Pearl will begin to have a physical impact so everyone driving past the site will be able to follow its construction from now until completion,” Al Fahim concluded. – TradeArabia News Service