Skip to main content

Al Habtoor Group unveiled three megaprojects worth $2.59 billion

Al Habtoor Group unveiled three megaprojects worth $2.59 billion

 Al Habtoor Group (AHG), a company located in Dubai, has announced intentions to build three enormous residential complexes for a combined AED9.5 billion ($2.59 billion) in 2023.

"The new projects include residential buildings, and one of them will be the greatest in the world in terms of size and quantity of units," said Khalaf Ahmad Al Habtoor, founding chairman of the Al Habtoor Group.

"Dubai's strong economic recovery in 2022 and the development levels that have increased to new heights not even seen before the COVID-19 crisis, were encouraging aspects to be involved again in the real estate market and expand investments in new quality projects," he continued.

The first development contains residential buildings, one of which is the biggest in the world and is situated in Al Habtoor City. The complex is a crucial location for entertainment and hospitality. This project will have a construction budget of AED 4.5 billion. Al Habtoor continued, "It is a vertical community that meets all lifestyle requirements with over 20 amenities, including a panoramic infinity pool overlooking the spectacular Dubai skyline.

He described the second project as being "a distinctive residential construction project costing AED 2.5 billion in JBR's Habtoor Grand Resort. This development will have first-rate amenities and picturesque views of the city and coastline of Dubai."

According to Al Habtoor, the third project is: "Entails the renovation of Marina's Habtoor Tower. The AED2.5 billion project will entail the demolition of the existing Habtoor Tower and the construction of a considerably larger, ultra-luxurious residential tower with breathtaking views of the Dubai Marina to replace it."

Al Habtoor emphasized the internal financing of the expanding portfolio. "AHG feels that these expansion projects are both essential and a crystal clear illustration of the ambition of the country's leadership, leading to an unprecedented rate of growth for the UAE economy,"

"The United Arab Emirates, and Dubai in particular, have always been safe havens for a variety of nationalities, and we consider it as safer than ever with all the advancements making it the best place globally for investment and good returns," he continued.

One of the most reputable and prosperous companies in the UAE is the Al Habtoor Group, which was established in 1970. In addition to the UAE, it also conducts business in Illinois, London, Vienna, Beirut, and Budapest. It has thousands of highly skilled, seasoned individuals working for it.


Labels:

Comments

Post a Comment

Popular posts from this blog

PM Modi Stresses Climate Finance and Technology at COP28 for Global South's Ambitions

 During the COP28 Presidency's session on Transforming Climate Finance, Prime Minister Narendra Modi emphasized the crucial role of climate finance and technology in realizing the aspirations of countries in the Global South, including India. Despite their limited contribution to climate change, these nations bear immense consequences, and PM Modi highlighted their unwavering commitment to climate action, despite resource constraints. Addressing the gathering, PM Modi stated, "We all know that countries in the Global South, including India, have played a lesser role in climate change. But the impact of climate change on them is immense. Despite a lack of resources, these countries are committed to climate action." He expressed the expectation of Global South nations for robust support from developed countries to combat climate change, considering the natural and justified need for assistance. PM Modi welcomed the decision to operationalize the Loss and Damage Fund, adopte
Post a Comment
Read more

Bangladesh Military Expresses Discontent Over Chinese Weapons; Reports 'Sub-Standard' and Faulty Parts

  Bangladesh, a traditional buyer of Chinese military equipment, has raised grievances with Beijing regarding the delivery of defective components and technical malfunctions in its imported military hardware. This issue is not unique to Bangladesh, as other nations like Myanmar have also encountered problems with Chinese fighter jets, according to an ET report. Experts in the Chinese defense industry argue that Beijing lacks the expertise to manufacture highly sophisticated military hardware and is not yet considered a top-tier producer of modern defense equipment. They claim that much of China's weapon systems are based on outdated technology copied from the West. Developing countries often opt for Chinese weapons due to their lower cost compared to similar systems from Western countries. China sells arms through state-run export organizations like the Aviation Industry Corporation of China (AVIC), NORINCO, and CVIC. Sources familiar with the matter told ET that the Bangladesh mil
Post a Comment
Read more

North Korea Celebrates 'New Era of a Space Power' after Satellite Launch

  In a significant development, North Korea recently celebrated what it termed a 'new era of a space power' following the successful launch of a satellite. The reclusive nation's space endeavors have long been a source of international concern and scrutiny, raising questions about its technological capabilities and intentions. This latest achievement has reignited debates and speculation about North Korea's space ambitions. The satellite launch, conducted by North Korea's space agency, comes amid a backdrop of geopolitical tensions and global attention on the Korean Peninsula. The state media hailed the event as a major milestone, highlighting the successful deployment of the satellite into orbit. However, it is important to note that the international community remains skeptical, with concerns over the dual-use nature of space technology that could potentially be applied to ballistic missile systems. North Korea's pursuit of space capabilities has been a conten
Post a Comment
Read more