AAA Appraisers, the development arm of the Dubai-based AAA International Group, will launch three more towers in Dubai by year-end with an estimated investment of $600 million.

The announcement was made during the unveiling of its The Eclipse Tower, a $200 million commercial tower, in Jumeirah Village South.

"We will launch three more towers by year-end apart from the Eclipse and we estimate each of the towers to cost $200 million," Carlo Dorofatti, finance manager, was quoted as saying by an Emirates Business report.

The Eclipse Tower, a high-end property development, will have a gross built-up area of 350,000 sq ft with 55,000 sq ft of retail space.

According to Yousef Yaqoob Ibrahim, general manager, AAA Group, the tower will incorporate the concept of a nine-hole sky golf course, which will feature bunkers, water hazards and a pioneering water management system that maintains the golf course with minimal wastage of water.

The sales of this tower will be launched within the next couple of months, with the office space being sold from Dh1,600 per sq ft.

"We expect 50 per cent of the building to be sold out in the pre-launch phase, while prices are expected to rise by 15 per cent post launch," Ibrahim said.