Select launches $1.5bn island project
Dubai, July 13, 2008
UAE-based Select Group has announced the launch of its 5.5 billion dirham ($1.5 billion) private island development, Aquitainia, on The World archipelago off the coast of Dubai promoted by Nakheel.
Aquitainia, which combines the islands of France and Spain, was recently acquired by Select Group in a 50/50 joint venture with the UK-based property company, Select Property.
Select Group and Select Property have worked together on hugely successful projects since 2004.
'It is an honour to launch this development on The World. Aquitainia is a signature project on our 10 billion dirham portfolio of freehold properties in Dubai and is yet another significant move affirming our belief in guaranteed and sustained value escalation of waterfront properties benefiting investors,' Select Group chief executive Rahail Aslam was quoted as saying in a Gulf Daily News report.
Due for completion in 2012, the development is a collection of 816 units, ranging from one and two-bedroom suites, three-bedroom penthouses, land and water villas, all offering incredible views.
In addition, a 75-room boutique hotel, which will be operated by a five-star internationally renowned hotel brand, will service the suites, penthouses and villas spread across the islands. Aquitainia will also have numerous marinas with berths for hundreds of boats.
More Construction & Real Estate Stories
- Bahrain awards $5.8m project tenders
- Spinneys to set up distribution centre at Kizad
- Dubai unveils $300m hitech 'green' city project
- Deyaar plans $245m Dubai complex
- IFA unveils $272m Dubai mixed-use project
- CBRE tops Fortune’s most admired firms list
- Kuwait's real estate sales hit $1.1bn in Jan
- Dubai RTA awards $27m roads contract
- Work to start on Bahrain beach project
- Damac launches luxury apartments at Expo site
- Kuwaitis top GCC property buyers in Oman
- Rubber World to showcase at Big 5 Saudi
- Tool to help create effective property listings
- 'Smart' move by Dubai Design District
- Drake unit wins $13m contract in India
- Solar-powered cleaning boats launched in Sharjah
- $27m Expo Hotel Sharjah deal signed
- Arabtec unit wins $282m Emaar contract
- Abu Dhabi to host pool & spa expo
- ADCM unit secures $213m bridging loan
- Cluttons Dubai launches new luxury apartments
- Dubai developer Damac profits triple to $641m
- Dubai to start work on $544m water canal
- Dubai property market can absorb 25,000 units
- Jones Lang LaSalle renamed 'JLL'
- Aldar raises synergy estimate from Sorouh merger
- UAE industrial property sector keeps up growth
- Dubai residential property prices up 26pc
- Majid Al Futtaim to build new mall in Dubai IMPZ
- 300 firms to take part in Dubai property forum