Limitless, the global master development arm of Dubai World, has opened new corporate operations in Turkey, where demand for homes, hotel accommodation and retail space is rising sharply, the company disclosed today (Sunday).
The office – in Istanbul’s Esentepe district – is the nerve centre for all Limitless activities in Turkey. Run by a growing team of development, design, sales and administrative personnel, it is the ninth international office for Limitless.
Bahaa Abouhatab, Limitless Regional Director for Levant and Turkey, said: “We are currently assessing a series of distinctive, mixed-use developments in Turkey, whose growing population and trend towards urbanisation will create a shortage of around 5.5 million homes over the next eight years.
“Our research shows that retail demand is also on the rise in Turkey, where the shopping centre space to population ratio is considerably less than the European average of 115 square metres of shops per 1,000 people. In addition, more quality hotel rooms are needed to accommodate the country’s growing events market: visitor rates are already up around 32 per cent on last year.”
Dubai-based Limitless currently has nine global projects, worth more than US$100 billion, in Russia, Jordan, Saudi Arabia, India, Vietnam, Malaysia and the UAE. Combined, they span nearly 30,000 hectares and will provide homes for around three million people. More projects in Europe, North Africa, South Asia, the Far East and the Gulf Region will be announced this year.
Limitless also has offices in Poland, Russia, India, Pakistan, Jordan, Egypt, Singapore and China, with a Saudi Arabia office coming soon.
Current Limitless projects:
Malaysia International Halal Park, Selangor State, Malaysia: The world’s first fully-integrated Halal centre and one of two projects for Limitless in Malaysia, this 1115 hectare complex includes homes for 200,000 people, food manufacturing plants, training and research centres, offices, entertainment and retail facilities
Limitless Towers, Amman, Jordan: US$300 million, 200 metre residential twin towers that will be the tallest buildings in Jordan. First ‘green’ buildings in the country, with up to 550 luxury apartments plus retail, entertainment and leisure plaza. Towers will be connected by the world’s highest suspended swimming pool, 125 metres above Amman
Moscow, Russia: 113 hectare development near Moscow, with 4,500 homes as well as schools, retail and commercial elements. The project is a 50-50 joint venture with leading Russian developer RDI, and will accommodate around 12,000 people
Puteri Harbour, Malaysia: US$450 million, 44 hectare development of landed waterfront homes – with individual berthing – and high-end condominiums. A 60-40 joint venture with UEM Land, this will be the country’s first luxury waterfront enclave
Al Wasl, Riyadh, Saudi Arabia: US$12 billion, 1,400 hectare mixed-use development near Riyadh, including 60,000 homes as well as mosques, educational facilities, offices, shopping malls and hotels
Arabian Canal, Dubai, UAE: US$11 billion, 75 km man-made waterway – the biggest and most complex civil engineering project ever undertaken in the Middle East. Limitless is also master planning a US$50 billion, 20,000 hectare canalside ‘city’ as part of the project
Bidadi, Bangalore, India: US$12 billion, 4,000 hectare mixed-use development, including 1,000 hectares of office/commercial space, near Bangalore. The first of five new towns planned by the Government for the outskirts of the city, Bidadi will house up to 750,000 people
Halong Star, Halong Bay, Vietnam: US$220 million, 125 hectare mixed-use development with residential units, hotels, and education, cultural and recreational facilities, overlooking Halong Bay, a UNESCO-sanctioned world heritage site
Downtown Jebel Ali, Dubai, UAE: US$13 billion, 200 hectare sustainable, mixed-use development consisting of four quarters, each with its own iconic, individually-themed plaza. Downtown Jebel Ali will have nearly 330 buildings, including 237 residential towers
