United Arab Emirates, Dubai: Saudi Arabia-based developer, Tanmiyat Group stated that the construction work for its flagship project - The Court Tower, valued at US$100million is progressing well, with 83 percent of the work already completed and ready to be delivered by October 2018.

Offering panoramic and unobstructed views of the canal, The Court Tower will add 280,000 square feet of office space, 198 apartments and 28,000 of retail space to the Water Canal.

The Court Tower, a premium mixed-use community, will be composed of residential apartments, shops and offices on the Dubai Water Canal. Once complete, it will offer residents a full view of the 6.4 kilometre, man-made water canal and will also offer easy and quick access to RTA water taxis, bus stations and metro.

Since Beijing Emirates Company was appointed as the new contractor for The Court Tower, the project has not only progressed at a fast pace, but is shaping well to be delivered on time. Located opposite Habtoor city and JW Marriot, The Court Tower is 83 per cent sold and is open to offer its final floors of commercial spaces to premium brands that will associate well with the property. Delta International Real Estate is the exclusive marketing and sales agency for the project, bringing highest possible returns to the developers and investors.

“We are extremely pleased with the developments made on the project to date. At Tanmiyat Group, we have always been committed to offering impressive and outstanding facilities to our investors. To that end, we’ve been working closely with our contractor to deliver the project on time as well as support the long-term economic and social development of the country,” said Saleh Tabakh, spokesman of Tanmiyat’s management board, and CEO of Delta International Real Estate.

“Once complete, The Court Tower will be our second successful project in Business Bay after delivering the Exchange Tower in 2016. UAE has always been a major destination for investors from emerging countries to Russia. The way the market is shaping, we look forward to investing in more emirates across the country,” he added.

“Our investments in the UAE have exceeded Dh7 billion and once The Court Tower is ready, we aim to deliver two more buildings at Living Legends to grow our delivered portfolio to 500 villas, 188 offices at Exchange Tower and 600 apartments at Living Legends,” Tabakh said.

“The Court Tower is a premium project, however, its prices are still extremely competitive, which has led to 80 per cent of the project sold at such an early stage. We are confident that before the delivery, the project will be 100 per cent sold out. Once the area is fully functional, investors can expect an estimated rental return of 9 per cent for offices and 11 per cent for residential apartments,” he concluded.

The Court Tower is a premium mixed-used community, which will not only offer residents tranquillity, but also offer business spaces, allowing people to live and work in one location. The aim is to reduce travel time to work and help minimise the UAE’s carbon footprint. The Court Tower is one of many mixed-use properties developed by Tanmiyat Group; the company is also developing another mixed-use community called Living Legends at Dubai Land, which is spread over 15 million square feet.

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For further information or inquiries please contact:

Marwan AlNajjar

Sahara Communications

Mobile No. 0562634886

Email: m.alnajjar@saharapr.com 

© Press Release 2018