The project calls for the construction of three residential towers with a total of 1,200 apartments, a multi-storey car park and leisure and retail facilities.

Armada expects to issue tenders for the main construction package by November. The development is due for completion in 2007. The local Adnan Safariniis the design consultant.

JLT, located at a site in between interchanges 4 and 5 on Sheikh Zayed highway, is a mixed-use scheme being promoted by the local Nakheel.

The JLT development, covering a 730,000-square-metre area, is expected to be home to 45 towers. Other local developers which have signed up with Nakheel for JLT include the Saba Group, Ascon Real Estate, Damacand Mazyood Giga International.

Armada, which plans to invest $1,000 million in local real estate projects, recently unveiled plans to develop the International Chess City project in Dubai. The developer is drawing up a feasibility study for the estimated $2,600 million project, which will be implemented by a group of private investors (MEED 13:8:04).