Developers look to deliver the project on 10/10/2010
Dubai Property Ring, the developers of the first-ever revolving tower now dubbed as 55º Time Dubai (Residences), has officially launched sales for the property. And according to Tav Singh, director of Dubai Property Ring, the company is looking to sell off the property quickly as there have been quite a number of interested buyers, including a single buyer for the entire structure.
"We are looking to sell this very quickly. What we are looking to do is we are looking to blitz Dubai and we have some fantastic programs happening which will talk about the world's first turning time piece building and Dubai is leading on it. So how long it will take? We've had some people saying that they want to buy the whole tower, but let's see," Singh said.
Originally launched in November last year as Time Residences, the Dubai tower has been re-named as 55º Time Dubai™ (Residences) which is based on the longitudinal location of the emirate. The vision of 360° Time World is to build 24 turning Timepiece sustainable signature buildings in leading cities of the world. The 24 buildings will be named by the planets longitudinal line such that the future revolving tower in London would be 0º and the one in New York would be 74º, according to Singh. The 55º Time Dubai™ (Residences) will be the first of these 24 buildings.
Singh also disclosed that construction of 55º Time Dubai™ (Residences) may start in five to six months time with a target delivery date of the property on October 10, 2010 or 10/10/10.
"We have a strategy and we are looking to start construction in about six months time. In this project, because it is a Time project, we are in control of our time. We are not rushing ahead like everybody else. We want to make this perfect. It is a sustainable piece of architecture. So we are not looking to rush into a construction program. We want to make sure that when this building starts to get built, it gets built on a timely basis, on a time we want it to be handed. So we are really in control of the time element," Singh explained.
"We have an inspiration and an aspiration. The aspiration is we want to have it finished and handed over on October 10, 2010," Singh added.
The 170-metre high 55º Time Dubai™ (Residences) will have 30 floors with a floor plate area 10,000 square feet, and a saleable area of approx 8,000 square feet. There will be 200 apartments in total, with single floor rim of one or two bedroom, duplex three-bedroom, duplex penthouses with four bedrooms, and triplex penthouses of four to five bedrooms.
By Albert Alba
© The Business Weekly 2007
