 |
|
One Za'abeel, an iconic 36-storey mixed-use property development located at the World Trade Center roundabout in Dubai |
Deyaar Development PJSC, the region's fastest growing real estate company, has signed an agreement with the Investment Corporation of Dubai (ICD), the investment arm of the Government of Dubai, to assume the development and management rights for One Za'abeel, an iconic 36-storey mixed-use property development located at the World Trade Center roundabout in Dubai.
Khalifa H. Al Daboos, Director Investments, ICD, said, "Due to its central premium location at the end of the old business district and at the beginning of the business growth corridor on Sheikh Zayed Road, One Za'abeel is poised to become a symbol of Dubai's rich trading roots, as well as its rapid rise into a modern international financial and business hub".
One Za'abeel will consist of 3 separate towers interconnected at the top and have a common podium at the base. The property will feature a residential tower with 450 apartments, a 5-star hotel tower with 370 rooms and a commercial tower offering 500,000 sq ft of office space. The construction at the site is set to commence shortly with completion scheduled for 2011. In a first for Dubai, a highway will run through the real estate development.
