Investment Corporation of Dubai (ICD) has announced the launch of an iconic 36-storey mixed-use development – One Za’abeel – located at the World Trade Center roundabout.

One Za’abeel has been named so because it carries the address 1 Za’abeel, located strategically between the old and new business districts of Dubai on Sheikh Zayed Road.

One Za’abeel will consist of three separate towers that will be inter-connected at the top and will have a common podium at the base.  In a first for the region, a highway will run through the development. One Za’abeel will also be in close proximity to two Metro stations.

The unique complex will include a residential tower with 450 apartments, a five-star hotel tower with 370 rooms and a commercial tower offering 500,000 sq ft of office space.

The commercial tower will be inter-connected at the top with 133 serviced apartments, and will also contain a swimming pool, meeting rooms, and numerous other facilities that will make it an ideal hub for the business community of Dubai.

A total retail area of 270,000 sq ft will be in the retail podium connecting the three towers at the ground level. The development will also have over 2300 car parking spaces. Construction work on the project is due to begin shortly with completion scheduled for early 2011.

Announcing the project, Mohammed Al Shaibani, director-general of The Ruler’s Court and executive director and ICD chief executive officer, said: “One Za’abeel is in line with the strategic vision of ICD to identify and develop unique opportunities that will enhance Dubai’s position as an international city of excellence.'

Due to its central premium location at the end of the old business district and right at the beginning of the business growth corridor on Sheikh Zayed Road, One Za’abeel will become a symbol of Dubai’s rich trading roots, as well as its rapid rise into a modern international financial and business hub”.

He further added: “One Za’abeel is being developed as an environment-friendly project in line with the green buildings initiative launched by Sheikh Mohammed Bin Rashid Al Maktoum, UAE vice president and prime minister and Dubai ruler.'-TradeArabia News Service