Dubai, September 20, 2017 – The new Ithra Dubai landmark is set to redraw the city’s skyline.
Ithra Dubai, the real estate developer wholly owned by Investment Corporation of Dubai (ICD), today announced that its landmark project, One Za’abeel, has entered an exciting phase as main construction works begin on site.
One Za’abeel, the mixed-use development that stands proudly in the heart of the city, is due to be completed in Q4 2020.
“With the recent appointment of ALEC Engineering & Contracting LLC as the Main Contractor, the project has now entered an exciting phase of construction where One Za’abeel and its panoramic 210-meter sky concourse – “The Linx” – will in due course re-shape the ever-exciting Dubai skyline,” said Issam Galadari, Director and CEO of Ithra Dubai.
Site excavation, preparatory works, shoring and piling were recently completed, and the construction of a seven-floor basement is currently underway. ALEC is on track to deliver the two tower project. The first tower consists of 67 floors, and the second, 57 floors. Both towers rise up from a structure consisting of 3 levels of podium and 7 levels of basement. ‘The Linx’ connects both Towers at a height of c. 100 meters.
The development which proudly boasts the address #1, Za’abeel, is strategically positioned between the old and new business districts of Dubai. It is a symbol of the ambition, innovation and pioneering spirit of Dubai. With residences, businesses, leisure and retail experiences integrating seamlessly together, Dubai’s new real estate icon promises its tenants and users a truly special experience.
“Our aim is not only to add another beautiful feature to Dubai’s skyline,” said Issam Galadari. “One Za’abeel will add value to Dubai and its inhabitants by presenting a new kind of sustainable development for residents, tenants, and visitors alike that revolves around offering an elevated lifestyle” he added.
With a total built up area of 480,000 square meters, the two-tower, high-rise mixed-use development incorporates luxury residences, a luxury and ultra-luxury hotel, serviced apartments, office spaces, a retail podium, known as The Gallery, and a panoramic sky concourse, The Linx, that connects the two towers of One Za’abeel.
|Retail (retail, F&B)||12,000 Sqm|
|Ultra-Luxury Hotel||90 keys|
|Luxury Hotel||314 keys|
|Serviced Apartment||94 keys|
Ithra Dubai: Ithra Dubai LLC, wholly owned by Investment Corporation of Dubai (ICD), will develop and manage real estate projects in Dubai and around the globe. Ithra Dubai’s rich portfolio of projects are designed to embrace diversity, shape happy communities, and bring prosperity to many. The portfolio of real estate projects deliver mixed-use, inclusive communities, commercial, residential, leisure and retail spaces, and quality hospitality and education facilities.
Investment Corporation of Dubai (ICD): Investment Corporation of Dubai (ICD), is the principal investment arm of the Government of Dubai. It was established in May 2006 by decree (11) of 2006 and mandated with the consolidation and management of the Government of Dubai’s portfolio of commercial companies and investments. ICD was also assigned the provision of strategic oversight to portfolio companies through the development and implementation of effective corporate governance policies, and sound investment strategies. ICD is focused on maximising stakeholder value for the long-term benefit of the Emirate.
ALEC: ALEC (ALEC Engineering and Contracting LLC), is an award winning, multi-disciplinary construction company based in Dubai with operations in Abu Dhabi and other GCC contries. They have consistently evolved and grown to become one of the largest contractors for the execution of major construction projects with a workforce in excess of 10,600 employees. The scope of ALEC’s projects includes resort hotels, themed retail developments, high rise towers, airport terminals and residential & commercial buildings. www.alec.ae
One Za’abeel offers Luxury and ultra-luxury hospitality providing the ideal retreat for Dubai’s thriving community and urban travelers seeking an elevated experience. The two towers are linked by the world’s largest cantilever, The Linx, a panoramic sky concourse, floating at an awe-inspiring 100 meters above ground, and offering a choice of attractions, fine restaurants and lounges.
For further information. Please visit www.ithradubai.com
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