| 19 Mar 2009 |
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Damac finalises master plan for Kurdistan project
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Damac PropertiesDamac Properties
is in the process of finalising the master plan for its Dh55 billion Tarin Hills project in Kurdistan and the Dh60bn Gamsha Bay project in Egypt, a senior executive said."As with any master development of this scale, the number of surveys, topography analysis and studies that need to be completed before any enabling works can be awarded is exhaustive. Comprehensive surveys have been commissioned with many already completed including road flow analysis, irrigation and power requirements and urban planning," Niall McLoughlin, a Senior Vice-President at Damac Holding, told Emirates Business in an emailed statement.
"We are in the process of finalising the master plan designs to meet the challenges of the plot. Once the project is formally launched we will issue further statements," he said.
In June 2008, the company unveiled plans to build Tarin Hills, a Dh55bn master development in Iraq's Kurdistan province. The project will include residential, commercial and hospitality buildings spread over 170 million square feet in Erbil.
Tarin Hills will be developed in three phases, with the project consisting of Mediterranean-styled villas, townhouses, apartment blocks, retail outlets, a business park, a sports centre and spa, business hotels and country lodge hotels, water and theme park and schools for the residents.
The project, wholly owned by DamacDamac
, will also have a golf course residential community with villas surrounding and intertwined among the 18-hole course.DamacDamac
Chairman Hussain Sajwani told this newspaper earlier that ground-breaking will take place in December 2008 and the project will be completed in seven years.In December 2006, the company announced Gamsha Bay, a 320 million square feet project in Egypt, which will be divided into nine zones Gamsha Marina, Marina Park, Coral Golf Course, Sea View Crescent, Creek Retreat, Gamsha Bay, Peninsula Luxury Villas, Downtown Gamsha and Extreme Sports World Theme Park.
The master development will be built in five phases over 10 years, with the initial components of the first phase completed within five years, the company then said.
By Staff Writer
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