Construction of the 229-metre-high The Landmark Tower in the Dubai Maritime City (DMC) will commence when phase three begins, Emirates 24|7 can reveal.
“Yes, the tower is still in the plan as part of phase three,” Khamis J Buamim, Chairman, Drydocks World and Maritime World, said.
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.
Six mixed-use developments, announced in December 2011, are part of the first phase of the business district, Buamim revealed.
“Developments and work will be initiated within 90 days from signing the contract in the first phase of the city with expected completion of the projects in 36 months maximum.”
The six projects announced previously 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.
Maritime World is the umbrella body constituting DMC and other maritime entities.
Asked if the master plan had been changed for DMC, Buamim said: “The whole city is going through re-engineering and re-designing. The master plan has changed, but three is no reduction to the size of the business district. More recreational and community areas have been established.”
Last week, Maritime World said 35 per cent of developers have signed with them and agreed to immediately begin development of their plots. Another 40 per cent of companies are expected to sign contracts soon.
“We have committed ourselves to resolve all issues of the past and I can confirm that the City is back on track to make a definitive impact as a unique setting for future growth and progress in all relevant areas of maritime and offshore related activity. We have overcome the side-effects of global recessionary forces, and have reinvigorated our efforts as per the diktats of a resilient and buoyant market.”
Buamim also called upon interested parties to join in as soon as possible so as not to miss the opportunity, stating, “the time is ripe for investment.”
DMC, which is over 2.27 million square metres in area, offers facilities for office, residential, retail, and recreational and leisure purposes.