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Dubai: Abyaar, a Kuwait-based boutique real estate company, launched three projects on Thursday at a combined investment of Dh4 billion.
Ice tower, designed in the shape of a floating iceberg, will be located at Dubai Marina and have 30 levels of angular glass and house 103 spatially-unique apartments.
The Dh600 million project will go on sale in two weeks at Dh2,750 per square foot. Construction will begin in two weeks and is expectated to be completed in the last quarter of 2010.
The Australian architect, Karl Finder said that the building has many facets and the fissure between the two sides of the structure will provide varying degrees of sunlight to the balconies on the inside of the building. The difference in light will make every apartment unique, he said.
The second launch was that of a resort-lifestyle community planned around a manmade waterfront called Pier 8, also located at Dubai Marina, and is set to be completed in 14 months.
Recreational buildings
The development is designed by Atkins, and comprises 40 storeys of high-end luxury apartments. The tower will provide 232 units of studios, one- and two-bedroom apartments and two penthouses on the top floors.
Sales of Pier 8, set to be completed in 14 months, were launched yesterday at Dh2,700 per square foot.
The company also launched The Dubai Arts District (DAD), a Dh1.4 billion community comprising office, residential and recreational buildings.
Eleven residential buildings have been designed by a team of architects of Marks Barfield Architects, spanning over 2.1 million square feet of built up area.
Architect David Marks said the buildings are inspired by nature and portray the theme of sand and wind in terms of colours and shape.
The buildings, he said, will have low maintenance costs and reduce the glare from the sun due to their design and will also be sustainable.
DAD's construction will start in two months and finish in the last quarter of 2011. In the coming years, the district will host many high-profile art events, the company said. The commercial buildings are set to come online before the residential, as the company sees an urgent need in the market for commercial space, according to Anan Fakhreddin, head of sales and marketing for Abyaar.
Commercial space
The company has already started selling commercial space in this project.
Marzooq Al Rashdan, vice-chairman and managing director of Abyaar said, "Our projects are end-user focused, aimed at those wanting to live in less mainstream environments, with enduring high-quality."
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