A Dh200 million residential tower, Al Duaa Marina Tower, was recently launched on the waterfront at Dubai Marina by Bahrain-based Al Kawathar Real Estate.
The 25-floor tower will feature 142 luxury apartments, five low-rise town houses and two penthouses onto the market and is scheduled for completion in September 2008, according to Gulf News.
Approximately half of the units have been sold so far, mainly to UK-based investors. The launch price for apartments is Dh810 per square foot, according to Harry Kantaria, managing director of Aspire Real Estate, Al Kawathar's marketing partner for the project.
"The pre-launch prices are expected to rise by 15 per cent following the official launch today and are expected to rise over 50 per cent by the time the building is complete in two years," Kantaria said.
