Mered, Dutch Foundation break ground on flagship Dubai tower
AJMAN, April 2, 2024
Mered, a prominent international real estate developer, has joined forces with Dutch Foundation Dubai (DFD), a leading full-service engineering foundation company, to break ground on its flagship UAE project - Iconic Tower - featuring 311 luxury apartments at Dubai Internet City.
DFD brings a wealth of experience and a dedicated workforce of over 500 professionals to the partnership, while Mered contributes its strong expertise in construction quality, building standards, and an international team of visionary experts, collectively ensuring a robust foundation for the project's success.
Harnessing the momentum of Dubai's thriving real estate market, where prime residential capital values soared by 17.4% last year and property demands are projected to rise between 4-59% in 2024, the Iconic Tower is poised to transform the cityscape and enhance residents' lives with unparalleled quality and luxury services, said the global developer in a statement.
The ground-breaking ceremony was attended by major partners of Mered along with influential stakeholders, and industry leaders, thus signifying the official commencement of construction, it stated.
Speaking on the occasion, CEO Diana Nilipovscaia said: "The construction journey ahead promises to redefine architectural excellence in Dubai. Our bold vision, crafted from the Mered team’s development expertise and Pininfarina's renowned design legacy, positions the Iconic Tower as a beacon of avant-garde design and quality."
"With total real estate transactions in the emirate increasing by 33.8% annually, and values rising more than 36.7%, the Iconic Tower is perfectly positioned to meet the growing demand for luxury living in Dubai. This project embodies innovation, beauty, and exceptional living experiences," she stated.
Michel Farah, General Manager of Dutch Foundation Dubai, said the group was committed to the project and will be finishing it on time.
Post the groundbreaking, key partners in attendance also shared their enthusiastic support for the project.
Amar Tahliani, CEO of Mirage, said: "You gave us an opportunity to work on this project, and we are really proud of it."
Designed to soar to a majestic height of 286.4m, the Iconic Tower will be an architectural marvel, he stated.
With 311 opulent apartments offering unrivalled luxury living experiences, the tower will also feature an array of world-class amenities, including a private lounge and dining room, gym, private cinema, infinity pool, jacuzzi, sauna, ice spa and more.
Moreover, the tower will provide 423 dedicated parking spaces, including exclusive air-conditioned spots, ensuring convenience and comfort for residents, he added.
Peter Westeng, Chairman and CFO at Omnium, stated that this was the beginning of a really beautiful project.
Mered said as Dubai's residential market continues to flourish, the Iconic Tower stands as a testament to its unwavering commitment to excellence and innovation.
With construction slated for completion by September, the tower promises to redefine luxury living in Dubai and leave an indelible legacy on the city's skyline, it added.-TradeArabia News Service
