Pearl Dubai, a consortium of investors led by the Al Fahim Group, yesterday broke ground for Dubai Pearl, a $4-billion mixed-use development, located in Dubai Technology and Media Free Zone.
Abdullatif Al Mulla, Group Chief Executive, Tecom, Ali BuRuhaima, Chief Officer Asset Development Zoning Authority, Tecom, and Abdul Majeed Al Fahim, Chairman of Pearl Dubai, were present during the ground-breaking ceremony.
Pearl Dubai recently received the mobilisation and excavation permits for the works. Dubai Pearl will have a built up area of more than 15 million square feet.
The anticipated concrete quantity is 1.2 million cubic metres with an aluminum façade spanning 200,000 square metres.
The preliminary piling test has begun in mid-May, while the main contract is in the tendering stage, with bids expected to be submitted in July. Dubai Pearl will combine an active business district with quality urban lifestyle, offering easy access to premium commercial and residential areas.
"Dubai Pearl is a highly efficient building, with high importance being given to space management. Considering the earlier master plan, we have increased open space from 40 per cent to 48 per cent. Since we are utilising top of the buildings as open area, in total, we will have 60 per cent of green environment and open space," Al Fahim had said.
About 48 per cent of the project, which is expected to be completed by December 2010, will be landscaped. "We have utilised only 52 per cent of the land for construction from total area, while the remaining 48 per cent is open area. Basically, we have increased the open space and landscaping area in the project," he said.
According to Al Fahim, the company will invite international corporations to address the technology needs of Dubai Pearl.
"We want to offer WiMAX and fifth generation technology to our clients. I am hoping that by 2010, as we are completing in 2011, we will be incorporating the 7G technology."