Shuaa Capital Unveils new skyscraper: Dubawi
SHUAA Capital on Monday announced plans for ‘Dubawi’, a new skyscraper in one of Dubai’s most dynamic and coveted neighbourhoods, revealed a statement issued by the company.
“Located in the heart of Dubai on Sheikh Zayed Road and in close proximity to the bustling Business Bay area, the Dubawi property will offer views of the Arabian Gulf on one side and the Burj Khalifa, the world’s tallest tower, on the other,” said the statement.
According to the statement, the concept was developed by N Studio, the architectural and interior design practice of Northacre, London, a high-end residential developer with a 25-year track record of delivering more than 1,000 homes and apartments in Prime Central London.
“The steady roll-out of our strategic growth plans in the first half of 2017 has seen SHUAA begin to chart a new trajectory that leverages our core strengths to create new opportunities for our firm,” Shuaa Chairman Jassim Alseddiqi was quoted as saying.
“Dubawi is a bold statement about both the ambition and the capabilities of SHUAA that embodies the optimism we have about our firm’s future outlook,” he added.
Addressing Dubai demand
Designed as a mixed-use hotel and residential tower to address demand in the UAE’s residential, tourism and hospitality sectors, Dubawi will consist of circa 500 hotel rooms and serviced apartments sharing amenities with the hotel, as well as more than 500 apartment units and penthouses, said the statement.
“Located adjacent to Dubai’s iconic Sheikh Zayed Road and near many of the city’s key commercial and leisure hot spots, Dubawi will evolve into a landmark in its own right thanks to its scale, world-class design and amenities. We are excited to move forward with this project, which will build on SHUAA’s experience in real estate while opening up new frontiers in a key sector of the UAE economy,” said Fawad Tariq-Khan, General Manager of SHUAA Capital.
The development scheme will be managed by SHUAA’s specialised real estate asset management division, which currently manages assets in excess of AED3 billion, including real estate projects spread across both the UAE and Saudi markets.