Overview
An introduction to Real Estate Opportunities in DIFC, Dubai
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The AED 1.6-billion The Buildings by Daman mixed use real estate development project at the prestigious Dubai International Financial Centre (DIFC) officially opened for sale by Daman. A prestigious luxury development in the heart of the new Dubai Commercial Business District, the project is an example of the philosophy behind the group – careful planning, long term thinking, and highly innovative financial offerings.
Real estate and property services leader ASTECO has been appointed as exclusive Sales and Co-ordinating Agents for this property. AMLAK is the mortgage lender, offering exceptional terms.
Announcing the beginning of sale of this prominent project at a press conference, Shehab Gargash, Managing Director of Daman, said: “We are happy to be able to announce the public opening of sales today and extremely pleased that ASTECO will be our official sales and leasing agents and AMLAK will be the mortgage providers. Following our earlier announcements, we are pleased to be able to report that the project is on schedule and due to deliver the project by late 2008.
“There is no doubt that our choice of the location in DIFC adds significant value to the project. Apart from the unique benefits that the DIFC offers all investors as a free zone and the established presence of the DIFX within the DIFC, this prime location in the heart of Dubai’s Sheikh Zayed Road Central Business District is a powerful benefit in itself “Mr. Gargash added.
Elaine Jones, CEO, ASTECO Property Management LLC, said: “We are sure this well designed, luxurious project located in such a prime location will generate substantial interest from the buying public. We have already received a high level of interest in the project from various buyers for both commercial and residential purchases.”
Regarding the 10% down, 90% on home finance facility extended to both national citizens and UAE residents, Mr. Mohammed Ali Al Hashemi, Managing Director and CEO of AMLAK commented: “We are very pleased to be associated with this excellent group and prestigious project located in the heart of Dubai’s Central Business District at DIFC. We are confident that it will be a success and a bright new addition to the Dubai skyline.”
The Buildings by Daman
The 235-meter high Buildings by Damn located in the heart of the DIFC precinct is a 65-floor mixed-use residential and commercial complex. It includes freehold apartments, offices, a luxury hotel and retail space, encompassing 1.6 million square feet of built up area surrounded by sculptured gardens and water features. The project is being built on a 220,000-square foot plot of land which was acquired through a tender process during 2004.
Commercial office space
The project will have a dedicated commercial tower offering almost 50,000 square feet of prime office space per floor with virtually no columns. This unique floor layout yields approximately five times the average commercial floor space on Sheikh Zayed Road properties, and offers tenants a maximized floor space plan with no irregular corners.
Residential apartments
The 900,000 square feet 65-floor residential component has 1, 2, 3 bedroom simplex and duplex apartments which will have continuous sky-view terraces spread along the length of each apartment. The apartments feature hardwood parquet floors in the living, dining and bedroom areas, marble floors in the kitchen areas and quarried stone flooring in the bathrooms. Built in display areas with hardwood and stone surrounds, mosaic and tile back splash areas in the bathrooms and kitchen, hardwood work areas in the kitchen with granite countertops throughout and full white goods appliances (Washer/dryer, refrigerator, dishwasher, oven with hotplate cooking surfaces, microwave, under sink disposal unit) are delivered in all apartments. The residential apartments have individual controlled temperature control units in every room for comfort and user convenience. All apartments have pre-delivered recessed lighting with individual lighting controls.
Hotel and Furnished Apartments
The Buildings by Daman At the Dubai International Financial Centre includes a 5 star hotel to be managed by an international chain, a dedicated, purpose built spa and luxury serviced apartments.
Amenities
The complex has sky lobbies, two floors of dedicated retail space with convenience stores tailored to the needs of the tenants, up market restaurants, café and dining areas. The complex will have a mosque, day care center, gym and selective retail stores.
Convenient Access
The complex has 2300 dedicated parking spaces including automated parking for commercial tenants. One of the first and largest automated parking systems in the UAE, the speedy retrieval will allow tenants to call their parking space before arriving at the entry and park or recall their car with a remote command. Efficient, and secure, the automated parking system takes the car to an individual space from its driver and delivers it back with no valet parking intervention. The new Dubai Metro rail system links to the DIFC internal people mover system (DIFC Public Rapid Transport) and stops in the base of the commercial building at Daman Station. The Buildings by Daman complex offers automated parking entry, 10 high-speed elevators and intelligent and state-of-the-art interior designing techniques for ease of movement in the complex.
The Vision
The Buildings by Daman project will generate value from the unique vision of the DIFC as a world-class financial centre, which has already attracted top financial institutions from around the world. Many more are expected in the near future resulting in a steady increase in demand for office, residential retail and leisure real estate within the DIFC. The downtown location and plans for a self-contained metro system in DIFC that will link to the new Dubai Metro will add convenience and value to the tenants and workforce in the DIFC. Planned to be operational by 2009 these are among the additional features that are expected to add value to the project.
The Architects
Perkins and Will, world renowned architectural firm are the Design Architects and have already completed the detailed design.
