UAE-based Select Group has more than 46ha of prime residential portfolio under construction, and group chief executive officer (CEO), Rahail Aslam, says the timely delivery of these projects “is a key priority” for the company. Construction works for The Residences at Marina Gate, with a gross development value exceeding $1.1bn (AED4bn) and total built-up area (BUA) of 35ha, are proceeding as planned. The first tower within the development is scheduled for completion in Q4 2017. Comprising 415 apartments, the 50-storey tower spans a BUA of 10.5ha. Additionally, construction work for The Residences at Marina Gate II is making “impressive progress”, Aslam says, adding that the 12.4ha development – comprising 535 apartments – is anticipated to be completed in mid-2018. The company also has “a number of new developments in the pipeline” that are currently at the design stage.
This year, Select Group completed the handover of Pacific, a $272.2m (AED1bn) development in Ras Al Khaimah’s Al Marjan area. The 18.5ha project features 1,500 studio, one-bwdroom, two-bedroom, duplex, and Gulf Suite apartments. Amenities such as swimming pools, gymnasiums, and sports facilities have also been developed within Pacific.
Meanwhile, construction works are progressing as planned at the first phase of Jumeirah Living Marina Gate, Jumeirah Group’s first project in Dubai Marina.
Select Group inked an agreement with Jumeirah Group in January 2016 to manage the project, which comprises 104 serviced apartments, 389 branded residences, and 15 villas, under its Jumeirah Living brand. Aslam says the residential and hospitality sectors are Select Group’s largest in terms of value. He continues: “Hospitality is a sector that we have already ventured into with InterContinental, Radisson Blu, and most recently, the Jumeirah Group. We are currently in the process of evaluating a number of further acquisitions across Europe.”
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