Project is latest to be announced in wake of Dubais winning bid for the Expo
Dubai-based Damac Properties has become the latest developer to reveal plans to build a residential project near the Dubai Expo 2020 site. The developer said construction is well advanced on a 10-storey tower offering 270 serviced apartments at Dubai World Central (DWC), which will be home to the Expo 2020 and Al-Maktoum International airport.
Units in the Tenora complex are now on sale with prices starting at Dhs610,000 ($166,000). The development will be managed by Damac Maison, the companys hospitality division, and it will include a 24-hour concierge, maid services, a kids club, cafe and a luxury spa.
The project is scheduled for completion in the second quarter of 2015 and aims to serve Al-Maktoum International airport and professionals working on the adjacent Expo 2020 venue.
Dubais Expo 2020 success will be the catalyst for future growth and investment in Dubai for the next seven years, said Niall McLoughlin, senior vice president of Damac Properties.
Tenora is designed specifically to support the influx of people to the DWC area of Dubai not only during the exhibition itself, but also the many thousands of people who will be working on the project in the lead up to the event.
Dubai won the bid to host the 2020 World Expo in November and has pledged to make it one of the largest Expos ever, with an expected 25 million visitors.
Spread over an area of 13.63 million square metres, the scheme was the first to be announced following the UAEs win, and is being developed in line with the theme of the Expo - Connecting Minds, Creating the Future and its three subthemes, Mobility, Sustainability and Opportunity.
The first phase of the development will include a golf-course villa community, several hotels, a high-end shopping mall, leisure attractions and a business hub that promotes youth entrepreneurship.
Destination Dubai 2020
On 28-29 January 2014, MEED will hold its Destination Dubai 2020 event. The two-day conference will bring together the emirates key government-related entities and stakeholders to discuss their respective growth plans and outline Dubais ongoing expansion to 2020 and beyond. For the very latest information regarding this event, please visit www.destinationdubai2020.com
You might also like...
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.