Azizi Investments to continue with Palm Jebel Ali projects as scheduled
Thursday, December 04, 2008
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Azizi Investments revealed yesterday that none of its projects in the Palm Jebel Ali has been scaled down and that work will continue as scheduled.
The clarification came, following the announcement made by Nakheel that few of its projects in Palm Jebel Ali may be scaled down.
Azizi Investments have a total of five projects planned at the Palm Jebel Ali. The concept design of Azizi Crystal at Crescent A of the Palm received approval last week.
The Company in its statement yesterday, said that the developments at Palm Jebel Ali are located in Crescent A and Crescent E, wherein work by Nakheel is progressing as scheduled.
The land will be handed over to Azizi Investments by Nakheel next year. Crescent A is scheduled to be complete, latest by March, and construction work will commence by April. The project would require 2 years for completion, said a spokesperson from the company.
The land in Crescent E will be handed over by the third quarter of 2009.
The projects by Azizi Investments on the Palm Jebel Ali are the Azizi Diamond, Azizi Fontanne, Azizi Crystal and Azizi Platine on Crescent A, and Azizi Onyx on Crescent E. The company is committed to deliver the project as scheduled.
"We are focusing on quality of design, quality of build and outstanding customer service. We understand the need for Nakheel to scale back on its projects, given the current economic climate, but we are pleased that this does not affect our progress," the company said.
The company also confirmed that it is moving ahead with projects at Mina Rashid and Al Furjan and other Nakheel projects that remain unaffected.
The company also said that the Dh.3.5bn worth construction contract for the 12 plots that it owns at Al Furjan would be awarded soon. The company is under negotiations with various companies, including Arabtec, Al Naboodah and Al Shafar General Contracting for awarding the contract. The soil testing and piling work has been completed.
The clarification came, following the announcement made by Nakheel that few of its projects in Palm Jebel Ali may be scaled down.
Azizi Investments have a total of five projects planned at the Palm Jebel Ali. The concept design of Azizi Crystal at Crescent A of the Palm received approval last week.
The Company in its statement yesterday, said that the developments at Palm Jebel Ali are located in Crescent A and Crescent E, wherein work by Nakheel is progressing as scheduled.
The land will be handed over to Azizi Investments by Nakheel next year. Crescent A is scheduled to be complete, latest by March, and construction work will commence by April. The project would require 2 years for completion, said a spokesperson from the company.
The land in Crescent E will be handed over by the third quarter of 2009.
The projects by Azizi Investments on the Palm Jebel Ali are the Azizi Diamond, Azizi Fontanne, Azizi Crystal and Azizi Platine on Crescent A, and Azizi Onyx on Crescent E. The company is committed to deliver the project as scheduled.
"We are focusing on quality of design, quality of build and outstanding customer service. We understand the need for Nakheel to scale back on its projects, given the current economic climate, but we are pleased that this does not affect our progress," the company said.
The company also confirmed that it is moving ahead with projects at Mina Rashid and Al Furjan and other Nakheel projects that remain unaffected.
The company also said that the Dh.3.5bn worth construction contract for the 12 plots that it owns at Al Furjan would be awarded soon. The company is under negotiations with various companies, including Arabtec, Al Naboodah and Al Shafar General Contracting for awarding the contract. The soil testing and piling work has been completed.
Labels: Palm-Jebel-Ali
The Crown unveiled at Palm Jebel Ali to promote family tourism
Saturday, May 10, 2008
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Dubai's leading property developer, Nakheel, together with Busch Entertainment Corporation, is planning a 380-acre development across the Palm Jebel Ali, called The Crown, targeting the families and conservation.
The Crown will include resorts, hotels, and four theme parks namely the Busch Gardens, Aquatica, Seaworld and the overy Cove. Construction of The Crown is expected to begin by the end of the year. It will be linked to the Palm Jebel Ali's main crescent through a tunnel on the western side and through a bridge on the eastern side.
The Corporate Vice President and Chief Marketing Officer of Busch, Joseph A Couceiro said "It makes a statement even for Dubai."
The Palm Jebel Ali has a unique marine life with 504 water-homes, which is the biggest number of water-homes in the world. Shaikh Mohammed's Floating proverb too, is likely to begin construction by the end of this year, he added.
Busch Gardens will mainly house African animals which can thrive in Dubai temperatures and the Seaworld and overy Cove will include dolphins and other marine life.
The Crown will be open for visitors by the year 2012, and will be mainly family-oriented, as Nakheel and Dubai intend to promote family tourism.
The project is still in the planning stages, but Couceiro revealed that they expect several million people in the parks every year.
The Palm Jebel Ali development, including The Crown, is likely to house 57 hotels and 23,000 rooms on the whole, out of which The Crown will contribute 3000 to 4000 rooms.
The Crown will include resorts, hotels, and four theme parks namely the Busch Gardens, Aquatica, Seaworld and the overy Cove. Construction of The Crown is expected to begin by the end of the year. It will be linked to the Palm Jebel Ali's main crescent through a tunnel on the western side and through a bridge on the eastern side.
The Corporate Vice President and Chief Marketing Officer of Busch, Joseph A Couceiro said "It makes a statement even for Dubai."
The Palm Jebel Ali has a unique marine life with 504 water-homes, which is the biggest number of water-homes in the world. Shaikh Mohammed's Floating proverb too, is likely to begin construction by the end of this year, he added.
Busch Gardens will mainly house African animals which can thrive in Dubai temperatures and the Seaworld and overy Cove will include dolphins and other marine life.
The Crown will be open for visitors by the year 2012, and will be mainly family-oriented, as Nakheel and Dubai intend to promote family tourism.
The project is still in the planning stages, but Couceiro revealed that they expect several million people in the parks every year.
The Palm Jebel Ali development, including The Crown, is likely to house 57 hotels and 23,000 rooms on the whole, out of which The Crown will contribute 3000 to 4000 rooms.
Labels: Nakheel, Palm-Jebel-Ali, Resorts, Theme-Parks, Tourism
Damac to continue with construction of Palm Springs
Saturday, April 12, 2008
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Damac Properties has now formally announced the reversal of its decision to stop the Palm Springs project, say media reports.
After the leading Dubai-based developer, cancelled the 25-storey beachfront development project at the Palm Jebel Ali last month, offering the investors with compensation far below the current market value, the investors raised hues and cries about losing millions of Dirhams on their investment.
The tale is said to have created a bad publicity for Damac in major markets which the firm has been seeking to attract investments from, particularly in international markets such as the UK.
Investors have revealed that they received calls from Damac earlier this week, informing them about progressing with the Palm Springs project.
Investors have revealed that they received calls from Damac earlier this week, informing them about progressing with the Palm Springs project.
The project will be located on the new plot provided by master developer Nakheel, with few changes in the building plans.
Damac's Senior Vice President, Niall McLoughlin, in his statement, mentioned that Damac will shortly announce a decision on the project.
Damac had reasoned that the cancellation of the project after five years of launch was due to the "re-development of plots" and that the development could no longer be situated on the re-allocated plot.
This explanation was however questioned back, when Palm Jebel Ali master developer, Nakheel, said it had informed the investors about changes to the masterplan about ten months ago.
About 60 UK-based investors have been threatening Damac to take the matter to court, unless the developer reverses its decision and progresses with the construction work.
About 60 UK-based investors have been threatening Damac to take the matter to court, unless the developer reverses its decision and progresses with the construction work.
The group stormed the London launch of Damac's Jumeirah Village South project, and gave the developer a time-limit until 11th April to change its decision or face legal action.
In the meanwhile, Damac also changed its mind about the cancellation of Haz Tower in Business Bay on Wednesday, after the investors complained about the plans to pull back the project. The Haz Tower worth Dh.240million was launched in July and is now estimated to be about Dh.660mn.
Labels: Damac Properties, Latest News, Palm-Jebel-Ali
Investors express wrath over Damac's back-out
Sunday, March 30, 2008
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Investors of Damac's Palm Springs project on Palm Jebel Ali are enraged about the project being 'bought off' by Damac due to project alternation.
Damac is now planning to 'buy back' its Palm Springs plot on Palm Jebel Ali, five years after its launch. Damac is not in a position to proceed with the construction of the development, without incurring a significant loss as the plans of master-developer seems to have changed.
The Chairman of Damac Holding, Hussain Sajwani, mentioned in his statement said that Damac has been advised that the Palm Jebel Ali master development has been redesigned and the Palm Springs plot will not be delivered.
Due to redevelopment of plots, the Palm Springs development could not be positioned on the re-allocated plot and hence the Palm Springs project has to be cancelled, he added.
He added that, Damac will provide its customers an opportunity to release the investment made in Palm Springs and transfer the money to any of other projects of Damac at a discounted rate of 15 percent below current market value. As an alternative, Damac is ready to refund money paid by customers, with interest.
However, investors claim that Damac is offering only six percent per annum on the sum invested. The investors are considering taking the complaint directly to Ruler's Court, as they are already furious about the repeated project delays, contractual issues and poor customer service by Damac.
The Chief Executive Officer of Dubai's RERA (Real Estate Regulatory Authority), Marwan Bin Galita, said "Any investor with a problem or misunderstanding with developer, please check our website or meet us personally and we will clarify it for you."
Damac is now planning to 'buy back' its Palm Springs plot on Palm Jebel Ali, five years after its launch. Damac is not in a position to proceed with the construction of the development, without incurring a significant loss as the plans of master-developer seems to have changed.
The Chairman of Damac Holding, Hussain Sajwani, mentioned in his statement said that Damac has been advised that the Palm Jebel Ali master development has been redesigned and the Palm Springs plot will not be delivered.
Due to redevelopment of plots, the Palm Springs development could not be positioned on the re-allocated plot and hence the Palm Springs project has to be cancelled, he added.
He added that, Damac will provide its customers an opportunity to release the investment made in Palm Springs and transfer the money to any of other projects of Damac at a discounted rate of 15 percent below current market value. As an alternative, Damac is ready to refund money paid by customers, with interest.
However, investors claim that Damac is offering only six percent per annum on the sum invested. The investors are considering taking the complaint directly to Ruler's Court, as they are already furious about the repeated project delays, contractual issues and poor customer service by Damac.
The Chief Executive Officer of Dubai's RERA (Real Estate Regulatory Authority), Marwan Bin Galita, said "Any investor with a problem or misunderstanding with developer, please check our website or meet us personally and we will clarify it for you."
Labels: Damac Properties, Palm-Jebel-Ali
Nakheel reveals development of Worlds of Discovery on The Palm
Saturday, March 01, 2008
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Nakheel has revealed details about its deal with the Busch Entertainment Corportation (BEC), the family entertainment division of Anheuser-Busch Company at the US, to develop four theme parks, named Worlds of Discovery.
The theme parks will include Aquatica, SeaWorld, Discovery Cove and Busch Gardens.
The President and COO of BEC, Jim Atchison, announced the deal with the CEO of Nakheel, Chris O'Donnell and the Managing Director of 'The Palm Jebel Ali', Marwan Al Qamzi at the SeaWorld Orlando yesterday.
Both BEC and Nakheel entered into an agreement this month, for the construction of four theme parks on the second island of the three palm-shaped Islands by Nakheel. BEC, which is based in Orlando, operates ten 'Worlds of Discovery' parks throughout the US.
The 'Worlds of Discovery' in Dubai, will be built on a section of 'The Palm Jebel Ali' known as 'The Crown'. The first phase of 'Worlds of Discovery' will be unveiled during 2012. Apart from the four theme parks, the project will comprise other family tourist attractions such as spas, hotels, resorts, restaurants and shops.
"Dubai has fast become a leading tourist destination in the world, and a major part of the strategy has been attracting world-class entertainment brands to the emirate. We have already entered into partnerships with major brands such as Atlantis, Cirque du Soleil and the Trump. Our partnership with BEC is another example of the growth of Dubai, as a city of global prominence," said O'Donnell.
Al Qamzi said "Worlds of Discovery will turn out to be the attraction of The Palm Jebel Ali, and am already excited about opening the doors to the first visitors during 2012."
The theme parks will include Aquatica, SeaWorld, Discovery Cove and Busch Gardens.
The President and COO of BEC, Jim Atchison, announced the deal with the CEO of Nakheel, Chris O'Donnell and the Managing Director of 'The Palm Jebel Ali', Marwan Al Qamzi at the SeaWorld Orlando yesterday.
Both BEC and Nakheel entered into an agreement this month, for the construction of four theme parks on the second island of the three palm-shaped Islands by Nakheel. BEC, which is based in Orlando, operates ten 'Worlds of Discovery' parks throughout the US.
The 'Worlds of Discovery' in Dubai, will be built on a section of 'The Palm Jebel Ali' known as 'The Crown'. The first phase of 'Worlds of Discovery' will be unveiled during 2012. Apart from the four theme parks, the project will comprise other family tourist attractions such as spas, hotels, resorts, restaurants and shops.
"Dubai has fast become a leading tourist destination in the world, and a major part of the strategy has been attracting world-class entertainment brands to the emirate. We have already entered into partnerships with major brands such as Atlantis, Cirque du Soleil and the Trump. Our partnership with BEC is another example of the growth of Dubai, as a city of global prominence," said O'Donnell.
Al Qamzi said "Worlds of Discovery will turn out to be the attraction of The Palm Jebel Ali, and am already excited about opening the doors to the first visitors during 2012."
Labels: Nakheel, Palm-Jebel-Ali, Theme-Parks
The Palm Jebel Ali Water homes
Monday, November 05, 2007
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The Palm Jebel Ali Waterhomes are indeed a unique and rare property, and if you are looking to invest or buy, then we will be privileged to guide you to the best location that suites your budget and meets your requirements.
The Waterhomes maintain the same design throughout, and are uniform in appearance, when looking at the master plan. The only difference is its location. They are created in the pattern of a poem and the words written in Arabic around the inner Palm, when read from above the sky, reads as "Take wisdom from the wise - not everyone who rides a horse is a jockey". While some of the houses appear away from the sea, the others are close to the land. While a few houses are open to sea views, the others have shoreline views. However, it is purely the matter of budget and choice.
Located between the Crescent and the Crown of the Pal Jebel Ali, the Water Homes are a range of elevated retreat homes, that resemble bungalows linked to each other with wooden boardwalks to create a 12kms circular chain. There are about 1060 Waterhomes, that boast of luxurious amenities, featuring private moorings for personal boats, which will be an asset for ocean lovers.
The Waterhomes maintain the same design throughout, and are uniform in appearance, when looking at the master plan. The only difference is its location. They are created in the pattern of a poem and the words written in Arabic around the inner Palm, when read from above the sky, reads as "Take wisdom from the wise - not everyone who rides a horse is a jockey". While some of the houses appear away from the sea, the others are close to the land. While a few houses are open to sea views, the others have shoreline views. However, it is purely the matter of budget and choice.
Located between the Crescent and the Crown of the Pal Jebel Ali, the Water Homes are a range of elevated retreat homes, that resemble bungalows linked to each other with wooden boardwalks to create a 12kms circular chain. There are about 1060 Waterhomes, that boast of luxurious amenities, featuring private moorings for personal boats, which will be an asset for ocean lovers.
Labels: Luxury Homes, Palm-Jebel-Ali, Water front
