DUBAI - Armada Group's total market value of two major projects in Dubai and Sharjah emirates currently being undertaken has reached over Dh1.5 billion, said Dr Mohammed Rahif Hakmi, Chairman, Armada Group.
Dr Hakmi said: "The Armada Group is at present executing a major extensive promotional campaign in participation with ENOC or EPPCO as part of the 10th anniversary of the Dubai Shopping Festival, offering four magnificent Dubai studio apartments at the luxurious Armada Towers project coming up at the Jumeirah Lake. The real estate scenario in Dubai and the UAE has gone through tremendous stages of fast-paced development. The several major projects announced frequently over the past few months only assert the huge international investor interest in this sector."
The group announced unique and luxurious Armada Towers project, which will have 1,200 apartments on an area of 2,000,000 square feet. It will have 18,500 square feet of external and 13,000 sq feet of internal retail space. The key feature of this project is 12 luxurious penthouses, four in each tower. We are an active group, participating and contributing to the growth of this sector and thus the economy, which is why we also feel our DSF campaign with ENOC is a significant step in the right direction. We understand the substantial role DSF plays in attracting foreign visitors to Dubai, who are the potential investors in the real estate market in the UAE, added Dr Hakmi.
Piling work for the three Armada Towers is nearing completion and construction is going apace. APCC, the Abu Dhabi-based piling company has been awarded the contract totaling Dh 12 million. APCC has unparalleled expertise in these types of works and is one of the few companies capable of meeting the rigorous demands of such massive construction endeavour as the Armada Towers. The building will be ready to welcome the tenants by the first half of 2007.
Apart from the Armada Towers in Dubai, the group is also constructing the landmark 57-storied Salam Tower in Sharjah. The Salam Tower, occupying an area of 800,000 sq feet, will have 284 lavish apartments, including 12 penthouse suites, magnificently situated overlooking the Al Khan Lakes. This iconic structure will also include a five-storey covered parking facility and a ground floor meeting room equipped with the most modern audio-visual facilities. Two separate contracts, for Dh 5 million for piling work and Dh 2 million for concrete ready-mix, have been awarded to the award-winning Zetas Company and Star ReadyMix, a Sharjah firm, respectively.