New skyscraper coming up on Dubai skyline

Shuaa Capital unveiled plans for a new tower titled ‘Dubawi’ on Sheikh Zayed Road

huaa Capital unveiled plans for a new skyscraper titled ‘Dubawi’ on Sheikh Zayed Road in proximity to BusinessBay at Cityscape Global on Monday.

The property will offer views of the Arabian Gulf on one side and the Burj Khalifa on the other.

The concept was developed by N Studio, a London-based architectural and interior design practice.

Jassim Alseddiqi, chairman of Shuaa Capital, said: “The steady roll-out of our strategic growth plans in the first half of 2017 has seen Shuaa begin to chart a new trajectory that leverages our core strengths to create new opportunities for our firm.”

Designed as a mixed-use hotel and residential tower, Dubawi will consist of 500 hotel rooms and serviced apartments sharing amenities with the hotel, as well as over 500 apartment units and penthouses.

Fawad Tariq-Khan, general manager of Shuaa Capital, said: “Located adjacent to Dubai’s Sheikh Zayed Road and near to many of the city’s key commercial and leisure hot spots, Dubawi will evolve into a landmark in its own right thanks to its scale, world-class design and amenities. This project will build on Shuaa’s experience in real estate while opening up new frontiers in a key sector of the UAE economy.”

The development scheme will be managed by Shuaa’s asset management division, which currently manages assets in excess of Dh3 billion, including real estate projects spread across both the UAE and Saudi markets.

Staff Report/dubai
Filed on September 11, 2017
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