Zabeel Properties has started work on Porto Dubai, a luxury residential development, on a reclaimed peninsula that will feature a “tiered island” design concept for the first time in the UAE. The Porto Dubai will sit beside the Burj Al Arab luxury hotel.”We have started dredging and reclamation work on the project. Villa construction will commence by year-end, while the project is expected to be completed by 2010,” Mohammed Ali Al Hashimi, Executive Chairman, Zabeel Investments
Although he did not comment on the value of the project, Al Hashimi said it will “significantly increase the size of its investment portfolio”. Currently, Zabeel Properties has a Dh15 billion worth of residential, commercial and hospitality development portfolio.
Reclamation work is being undertaken by Boskalis Westminster, whilst Nakeel, the real estate subsidiary of Dubai World, is providing assistance and sharing its experience in reclamation and coastal development.
