Tanmiyat's Cleopatra, Aladdin And The Court Towers Get Closer To Delivery

>Beijing Emirate Company’s appointment signals a renewed impetus in the project that will see the new contractor build the Cleopatra, Aladdin and The Court Towers

>Brand new project to be announced in 2018, on the back of resurgent investor interest from emerging markets

The real estate development firm Tanmiyat Group has made a major stride to deliver even more homes to investors in its flagship Living Legends project and The Court Tower at Dubai Water Canal with the appointment of a new main contractor to resume and complete the construction of three towers

An agreement has been finalized between Tanmiyat and Beijing Emirates Company to deliver Cleopatra Tower, Aladdin Tower and Living Legends and The Court Tower at Dubai Water Canal within the next 6 months, leading to a renewed impetus in the project as the KSA-owned developer looks to fully deliver on its commitments to its buyers and investors, following the successful handover of Phase 1 last year.

Beijing Emirates Company is a premier construction group with more than 15 years of successful project completion history. With its head office located in Dubai, the company is actively participating in construction activities in various projects across the UAE and KSA, with Living Legends its latest project award.

The latest announcement that the contractor is on board paves the way for full delivery of over 500 residential and commercial units within the three towers. The towers cater to a wide range of buyers, with a choice of studio, one-, two- and three-bedroom homes as well as a penthouse option – all coming online in six months.

Saleh Tabakh of Tanmiyat said: “We are delighted to confirm that Beijing Emirates Company are on board. It is a real pleasure to be working with such an experienced contractor, and we know that we have found a real partner that shares our vision on delivering the very best for the project.

“Their appointment means that we can focus on finishing these important and desirable residential towers. We are fully expecting handover in March 2018 and consider these buildings key milestones in the most important project in our portfolio.”

“Both Cleopatra Tower and Aladdin Tower are fantastic additions to Dubailand area while The Court Tower at Dubai Water Canal will be a new icon for homes and offices in business bay. They will offer a tranquil living environment amid large areas of open green space and amenities, a wide range of attractive unit sizes, and a healthy return on investment. We can’t wait for residents to start moving in and making it their home.”

Cleopatra Tower and Aladdin Tower will be part of the Living Legends masterplan – Tanmiyat’s flagship project in terms of size, value and number of units. The entire AED7 billion community is made up of 12 residential towers containing 2,600 spacious apartments in total, as well as 500 luxury villas and an impressive range of amenities and leisure facilities.

The road and utilities infrastructure is fully completed, and sales are gathering pace with 88 per cent of the entire project sold out. Market analysts anticipate an average 10 per cent rental return on investment, as well as strong capital appreciation.

The Court Tower is a unique mixed use tower of water canal apartments, offices and shops to be added to the group’s portfolio of delivered projects within the coming 6 months

Tanmiyat Group boasts an impressive portfolio of ground-breaking projects with over 3 millions square feet already delivered to the market of villas, apartments and offices in the past one year. The firm’s prominence in the regional real estate arena has grown exponentially, with the development of its investment programs and successful launches.

Thanks to strong interest from investors in emerging markets such as the UAE, India, Pakistan, KSA, China, and the wider GCC, the Saudi-based developer will shortly announce a new project for construction. Due for delivery in 2019, on the back of a resurgent real estate market, Tanmiyat will unveil its brand-new development in more detail in the near future.

The group’s current portfolio includes Living Legends, The Exchange office tower at Business Bay, as well as The Court Tower at Dubai Water Canal, Business Bay, which will be ready in six months’ time with future projects to be announced next year to be added to the group’s portfolio