Dubai developers upbeat: 15 mixed-use towers for Maritime City

Published Tuesday, July 23, 2013

By Parag Deulgaonkar

At least 15 new mixed-use towers will be completed over the next three to four years in Dubai Maritime City, the world's first purpose built city for the global maritime industry.

“Fifteen developers have signed up with us for development of various projects.

“Work has commenced on many of those and we expect these developers to complete their projects in the next three to four years,” a senior executive of Drydocks World told Emirates 24|7 on condition of anonymity.

Dubai Maritime City, which covers over 2.27 million square metres in the area, will be offering office, residential, retail and recreational facilities.

Asked how they will ensure project completion, the official said: “Those who have signed are ‘serious’ developers. They have been given a timeline for completion with their contracts specially mentions penalty clauses for delays.”

The official added that the Dubai Maritime City was fully committed in completing the infrastructure as promised and has been working on it.

Projects that have been announced so far are Swiftships Towers by Swift Development; Iris Mist hotel apartments & residences by Sheth Developers; Kensington Krystal budget hotel by Kensington Global, Sanali Aquamarine residential apartments by Sanali Global and a six-star hotel by Dubai Investments Real Estate.

The latest is Damac Properties which will be building a high-rise luxury tower of serviced hotel residences.

In December 2012, Khamis Juma Buamim, Chairman Drydocks World & Maritime World told Emirates 24|7 that construction of the 229-metre high The Landmark Tower in DMC will commence when phase three begins.

The Landmark Tower consists of a 5-star business hotel with serviced apartments, business centre, retail and leisure facilities. It will have three underground floors, 45 above ground floors and car park with a capacity of 927 cars.

Maritime World is the umbrella body constituting DMC and other maritime entities.

Earlier this month, this website reported that Drydocks World was in talks with number of UAE companies for building of the Water Discus Hotel with the smallest, a two discus hotel, costing anywhere between $50 million and $80 million.

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