As The National News announced last week that Al Habtoor Group, a renowned Dubai conglomerate, has unveiled its latest grand venture – Al Habtoor Tower, an impressive residential complex that is set to become one of the world’s largest.
With 81 floors and a remarkable built-up area of approximately 327,000 square meters, this iconic structure will offer 1,701 housing units.
Situated adjacent to the Dubai Water Canal and in close proximity to the Dubai International Financial Centre, Al Habtoor Tower boasts a prime location with breathtaking views of the Burj Khalifa, the tallest building on the planet. While the tower’s height remains undisclosed, its architectural magnificence is poised to captivate all who encounter it.
The value of this multibillion-dirham development has not been revealed, but one thing is certain – Al Habtoor Group is committed to delivering an exceptional project within an unprecedented timeframe.
With completion scheduled in just three years, the company aims to set a new record in efficiency and excellence. Khalaf Al Habtoor, the founding chairman of Al Habtoor Group, expressed his pride in leading this groundbreaking endeavor, emphasizing his dedication to delivering the tower at the highest standards of quality and craftsmanship.
Al Habtoor Group is currently in the final stages of selecting the main contractor for the project. The bidding process has attracted businesses from various parts of the world, including the UAE, China, India, and Europe. Additionally, the tower’s construction will showcase an innovative technique, enabling a significant reduction in carbon dioxide emissions.
Al Habtoor himself considers this project a remarkable achievement that will serve as a valuable learning experience for contractors throughout the region.
Dubai, known for its iconic developments, has firmly established itself as a global leader in real estate. With Al Habtoor Tower, the emirate adds another jewel to its crown, joining other architectural marvels such as the Princess Tower and 23 Marina, both among the world’s tallest residential buildings.
The unveiling of Al Habtoor Tower comes at an opportune time as Dubai’s property market continues its strong recovery from the temporary setbacks caused by the pandemic. In the first quarter alone, the value of real estate transactions in the emirate surged by 80 percent year-on-year to reach an impressive Dh157 billion ($43 billion), as reported by official data. The increased number of transactions, up by 49 percent to 38,715 during the same period, further attests to the resiliency and attractiveness of Dubai’s real estate sector.
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