SHUAA Capital unveils 1000-unit ‘Dubawi’ project

Dubai - Mubahser: SHUAA Capital on Monday revealed plans for a new skyscraper at Cityscape Global 2017 to address demand in the UAE’s residential, tourism and hospitality sectors.

Designed as a mixed-use hotel and residential tower, Dubawi includes around 500 hotel rooms and serviced apartments sharing amenities with the hotel, in addition to over 500 apartment units and penthouses, SHUAA said in a statement.

The new landmark will be located in the heart of Dubai on the Sheikh Zayed Road and in close proximity to the bustling Business Bay area.

SHUAA Capital CEO Jassim Alseddiqi labelled Dubawi a “bold statement about both the ambition and the capabilities of SHUAA that embodies the optimism we have about our firm’s future outlook.”

Meanwhile, SHUAA’s general manager Fawad Tariq-Khan stated that Dubawi “will build on SHUAA’s experience in real estate while opening up new frontiers in a key sector of the UAE economy.”

The concept was developed by N Studio, the architectural and interior design practice of Northacre, London, the UAE investment firm revealed, noting that the development scheme will be managed by SHUAA’s specialised real estate asset management division.

SHUAA’s property portfolio currently manages assets exceeding AED 3 billion in value, including real estate projects spread across both the UAE and Saudi markets.

“Dubawi will evolve into a landmark in its own right thanks to its scale, world-class design and amenities,” Tariq-Khan highlighted.

The new development will offer views of the Arabian Gulf on one side and the Burj Khalifa, the world's tallest tower, on the other.

Mubasher Contribution Time: 11-Sep-2017 09:48 (GMT)
Mubasher Last Update Time: 11-Sep-2017 15:58 (GMT)