The consortium of investors led by Abu Dhabi-based Al-Fahim Group says it will honour all previous contracts made with buyers, despite an earlier phase of the project being hit by delays. “We have taken over Dubai Pearl in Tecom,” says Abdul Majeed al-Fahim, chairman of Dubai Pearl Free Zone. “As the new developer on the project, we will honour all contracts made with buyers on the previous project.”
The scheme was launched in 2003 but suffered crippling delays that led to Dubai Technology,e-Commerce & Media Free Zone (Tecom) assuming control of the project from Dubai Pearl Incorporated, part of Qatar’s Omnix International, in 2006 (MEED 8:6:07).
Dubai Pearl overlooks Palm Jumeirah and is housed in the interchange serving the man-made island, next to Media and Internet cities and Knowledge Village. The central feature is a main building comprising four towers, connected by a common podium at ground level and a sky bridge, known as the crown, at the top of the structures. It will be surrounded by a low-rise building on the podium.The mixed-use development will include residential, hotel, commercial and retail space, together with a 1,500-2,000-seat performing arts theatre.
The hotel component will offer 2,000 rooms to be operated by six different brands, of which two will be boutique hotels.
Residential features will include sky palaces, built within the sky bridge, which will have private pools and gardens, and penthouses on the upper floors. The retail section will include
a luxury fashion precinct, a premier shopping mall, cinemas and food courts.
The development will also comprise 14,500 parking bays.
The total built-up area will be more than 1.4 million square metres. Completion is expected by December 2010.
The architect for the main building and the masterplan is Germany’s Schweger Assozierte.
The consultant for the podium is Australia’s CK Design Works, with PMDC as project manager.
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