The Al Habtoor Group has appointed Asteco as the sole leasing agent for ‘Al Habtoor City’ three residential towers. Mohammed Al Habtoor, Vice-Chairman and CEO, Al Habtoor Group signed the official agreement with John Stevens, Managing Director, Asteco at the Al Habtoor Group head office on Al Wasl Road on Tuesday, February 11, 2014.
Mohammed Al Habtoor said, “Asteco has a great reputation in the region, and we are confident it will meet our demands with the project. Dubai’s economy is booming right now and the city needs a project like ours to meet its growing demands for upscale residential living - especially ahead of the EXPO 2020. Al Habtoor City is our flagship project. It will be a great addition to Dubai.”
Al Habtoor City, a multi-use development, will incorporate three five star hotels (WESTIN, W Hotel and St. Regis), and three residential towers. The residential blocks will incorporate up to 1,500 luxury apartments – including 11 penthouses, two of which are VIP penthouses over a 4-storey high podium.
Two of the residential towers within Al Habtoor City will be 74 floors high, boasting spectacular views of Dubai; the third tower will scale 40 floors. Each of the residential towers will include a single-storey 720 meter ‘Simplex’ penthouse, and two 2-storey ‘Duplex’ penthouses ranging from 795-820 square meters. The taller blocks will feature a 4-storey VIP penthouse with 3,000 square meter of living space, and 360 degree view of the city.
Mohammed Al Habtoor added, “The penthouses will be spectacular, and fitted to the highest of standards. They will be very unique.”
Commenting on Asteco’s appointment as sole leasing agent, John Stevens, Managing Director, Asteco said, “The Al Habtoor brand is synonymous with quality and Al Habtoor City will exemplify that perception. Undoubtedly, once complete, it will be one of the most sought after residential addresses in the UAE and is another prestigious development that will benefit from Asteco’s considerable experience in property management.”
The entire project, which is on track for delivery within 30 months, is the largest project of its kind currently under construction. The 10 million square foot complex will include a French-style garden, a tennis academy, a European boulevard and a permanent water-themed Las Vegas-style production by Franco Dragone, a marina and multiple restaurants and bars. The development will open in 2016.