Dubai Properties, a subsidiary of Dubai Properties Group, yesterday announced that work is progressing on schedule within the Dh110 billion Business Bay master development.
Several projects, including Vision Tower and Aspect Tower, are on course to nearing completion.
Mohamed Binbrek, Group CEO of Dubai Properties Group, said: "The towers are at various stages of completion. As the region's leading master developer with multibillion-dirham projects, we have always given priority to our stakeholders, including the investors and serious corporate or home buyers. We intend to continue the pace of work towards completion of all developments within Business Bay and other projects as well."
Dubai Properties' first project in Business Bay, the Dh3bn Executive Towers, is 92 per cent complete with work proceeding on all 11 buildings of the project. The project's structure is complete, with the façade nearing completion and commissioning is well under way.
Aspect Tower, located within the Executive Towers, is 92 per cent complete with an anticipated completion during the second quarter of 2009. It is the first freehold boutique office tower in the Executive Towers complex. It will rise up to 150 metres above a landscaped plaza in a combination of strong rectilinear frames with green- and blue-tinted glass. It will also have white, grey and aluminum low-level panels with portals of stone, culminating at the roof level by four blade walls and comprise 187 office units.
Construction is more than 78 per cent complete and remaining work is progressing as scheduled on the Dh1.2bn Vision Tower. The project will release more than 500,000 sq ft of commercial office space when all the 67 floors would by handed over by the third quarter of 2009.
"We have reached 250m of the final 264m. The building will be completed by the third quarter of 2009," said Azzam Abu Qaoud, Project Director at Dubai Properties for the three projects, told Emirates Business. "We will offer the shell and core to the client who can develop the interiors. We will complete the public areas but the offices will be developed by the end-users."
According to him, Dubai Properties is working together with Dewa to make sure that the project is finished on time.