Tiger Properties, the leading residential developer in the UAE, has announced the launch of its latest construction project in Dubai, Al Manara Tower. The new venture is located in the upmarket Jumeirah Village Circle and its total cost is expected to exceed AED 200 million by the time of its completion in 24 months.
Construction work on Al Manara Tower has already reached 20 per cent and once finished, the premium lifestyle development will be home to 300 residential units comprising studio and one and two-bedroom apartments. The building will also house retail outlets and a range of leisure and recreational facilities, including a health club with gym, swimming pool, sauna, Jacuzzi and steam room. The building is being constructed to world-class standards to match UAE-approved specifications in the local market, with Tiger Properties saying that the development forms part of its commitment to meet Dubai government real estate construction targets in the run up to Expo 2020.
“Tiger Properties has developed several core pillars to serve its future plans up until 2020 and beyond in order to meet demand for new property that will serve the projected influx of new visitors and residents as we head towards Expo 2020,” said Taha Al Zoubi, CEO of Tiger Properties. “These key supports are based upon our significant achievements over the past three decades, with thirty years marking our inception in the UAE market. The most notable pillar is preserving our leading position as a major player among other parties in the country’s real estate investment landscape,” he added.
“Dubai is currently experiencing many positive developments at the economic level and these are supported by a host of success factors locally, regionally and globally. The UAE investment environment has become one of the most attractive markets for capital, trademarks and is a first-choice destination for multi-national companies. The country has been able to strengthen its leading position at the top of the Edelman List in terms of confidence in the government and in the economy, surpassing global prominent markets that include China, Singapore, India and Indonesia,” Al Zoubi continued.
Tiger Properties say that their new Al Manara Tower project will provide residents with a luxury standard of living. The completed building will feature styled glass facades and high-quality interiors, with all units in the development equipped with comprehensive state-of-the-art amenities and services that will meet the demands of all categories of investor and end-user.
“Today, the real estate market in Dubai is witnessing an increasing demand for residential units, which reflects the special status of Dubai as a premier destination of choice for families. Our new Al Manara Tower project is located in a prime location, so residents will have easy access to major business hubs in Dubai, including Dubai Media City, Dubai Internet City, Dubai Marina, Al Maktoum Airport, the new Expo 2020 site and Dubai Sports City. This is considered an essential added value feature for Jumeirah Village Circle and its projects,” Al Zoubi added.
Jumeirah Village Circle is characterised by its prime location that covers a total area of 900 hectares and accessed from Sheikh Mohammed Bin Zayed Road, Al Khail Road, and Hessa Road. Once fully completed, the development will provide housing for more than 300,000 people. The community will be a fully integrated family neighbourhood offering playgrounds, schools, shops, hospitals, mosques and a number of parks and green areas.
Tiger Properties’ plans for the future are focussed on supporting the Dubai’s development process and in contributing to the city’s 2020 Vision. The company says it is looking forward to playing a major role in its various economic and social sectors as the emirate gears up to welcoming more than 20 million tourists a year over the next six years.