Dubai - Pearl Dubai FZ LLC, a consortium of investors led by
Al Fahim Group
and developers of the AED14 billion Dubai Pearl project, today
announced the first phase of construction work has commenced on the
world class, mixed-use development.
With the completion of scaffolding and site hoarding, and the obtaining of mobilisation permit from
TECOM Investments
, Pearl Dubai has begun mobilising contractors for the foundation works of the landmark project.
The
preliminary piling test is scheduled for mid-May, while the main
contract is in the tendering stage, with bids expected to be submitted
on 18 May, 2008.
Abdul Majeed Al Fahim, Chairman of Pearl
Dubai, said: "Pearl Dubai registered an overwhelming response from
investors during the first two launches of its commercial and
residential units in 2008. The market feedback has emphatically
reiterated the high level of confidence Dubai Pearl enjoys amongst
investors.
"Inspired by such endorsements, we are delighted to
confirm that construction work is moving ahead on schedule. The project
is also gathering momentum for yet another exciting launch of an
exclusive residential component as an additional incentive for
investors."
The Dubai Pearl project is located in the heart of Dubai Technology and Media Free Zone (
TECOM Investments),
overlooking Palm Jumeirah. Expected to be completed by December 2010,
Dubai Pearl will have a built-up area of more than 15 million square
feet, combining an active business district with quality urban
lifestyle. It will also offer easy access to premium commercial and
residential areas such as Dubai Media City, Dubai Internet City, and
Dubai Knowledge Village.
Dubai Pearl will also boast a
2,000-seat state-of-the-art theatre, a luxury fashion precinct, and
include sky palaces, sky penthouses and climate controlled pedestrian
walkways.
News 
