Drake & Scull International (DSI), a leader in engineering projects, and Omniyat, a real estate development group, today (October 8) broke ground on a Dh2-billion ($544 million) premium residential development in Dubai, UAE.

The One at Palm Jumeirah, the 100-m ultra-premium residential tower located at the trunk of the Palm Jumeirah, is scheduled to be completed in 2017.

"We are absolutely thrilled to break ground today on what will be, in the near future, one of the finest residential developments anywhere in the world. Throughout the next three years, the Omniyat Group and DSI will work jointly to build this magnificent building to a standard, well beyond anything seen in high-end development," said Mahdi Amjad, executive chairman and CEO of the Omniyat Group.

"The 25-storey tower, comprising 90 spacious apartments will be the most prestigious address in Dubai. Our swimming pools, cinema, cigar lounge, super luxury spa and yacht club will be the most lavish of its kind. It is my intention to do something really special for our amazing city.”

Being one of the highest residential developments at the trunk of the Palm Jumeirah, the One at Palm Jumeirah’s 20,000-sq-ft penthouse will provide unobstructed 360-degree views of Dubai’s skyline around the Palm and marina areas, a statement said.

“One at Palm Jumeirah is specially crafted for the most privileged of the privileged few, which shows the commitment which is reflected in our design approach. Our aim is to release a project that can smoothly speak to the world and take the buyers through a journey of urban and premium lifestyle,” said Khaldoun Al Tabari, vice chairman and CEO of DSI.

“The selection of this development was based on the strengths of the partners and teams, vision for the property and dedication to create an outstanding residential project,” Al Tabari added.

One at Palm Jumeirah is a 50-50 joint venture between the Omniyat group and DSI and is a collaboration between Soma Architects from New York, Super Potato interior design from Japan and Vladimir Djurovic landscape architects from Lebanon. – TradeArabia News Service