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Asteco to unveil $544m Central park project

Dubai, October 1, 2008

Real estate and property services leader Asteco is set to showcase Dh2 billion ($544.4 million) Central Park project, Abu Dhabi’s newest residential tower, at the upcoming Cityscape Dubai.

Central Park is being developed by the Sama Emirates Holding Group, a multi-disciplined company specialising in real estate development with a diverse portfolio of projects in Dubai and Abu Dhabi

The Central Park development comprises two towers offering 640 one, two and three-bedroom apartments.

The towers are located at the central park of the Shams on the Reem Island master-planned community overlooking the stunning Abu Dhabi skyline.

The company recently won the contract for apartment sales of Central Park, said a company official.

'Due for completion in 2011, apartments are available on a freehold basis. Sales will be launched during the Cityscape from October 6 to 9 and potential buyers can view the model at the Asteco stand at the Dubai International Exhibition Centre,' said Jock Douglas, Asteco sales manager in Abu Dhabi.
 
“We have seen an increase in demand for premium residential apartments in Abu Dhabi,” said Douglas.

“Although many projects are coming on stream, residents are not always satisfied with the quality, service standards, room sizes and facilities provided.”

'Al Reem is witnessing high levels of activity as some projects near completion and residential units are in great demand even at higher prices owing to the high levels of quality and design.'

'Apartments on higher floors command values of almost Dh3,500 per square foot giving an indication of growing returns that can be expected,' Douglas added.

Strategically located to take advantage of the Arabian Gulf’s skyline, design has been conceptualised by leading architects, Gensler, who were also awarded the design contract for Tameer Towers, Abu Dhabi’s 7-star hotel. Al Hilal Bank are the financial partners.

Central Park buyers can opt for one, two and three-bedroom apartments with unit sizes starting from 970, 1,755 and 1,937 square feet respectively. All apartments are spacious, designed to maximise views, and will be equipped with fully-fitted kitchens.

In addition to the 640 contemporary designed apartments, the tower boasts swimming pools located on a garden terrace in a lush park-like environment, a social lounge, fitness centre and spa, business centre, lobby lounge, mail and package delivery rooms for residents, extensive private gardens, a day care centre and prayer room.

Ample parking is available at basement and podium levels of the building along with 24-hour security and valet parking.-TradeArabia News Service




Tags: project | Asteco | Central Park |

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