Khalaf Al Habtoor, chairman of the Al Habtoor Group, recently unveiled Al Habtoor City, a Dh11 billion ($3 billion) entertainment and hospitality development that the group claims will be the largest in the world.
Located on 10 million square foot on Shaikh Zayed Road, the under construction project will encompass three international branded hotels with 3,000 rooms, as well as three luxury residential towers with more than 1,460 apartments. Al Habtoor City will be the first project on the Dubai Water Canal, multi-billion dirham project which goes through central location connecting the Business Bay area with the Arabian Gulf.
The complex will also include the first dedicated theatre in the Middle East, a tennis academy, and other entertainment facilities. It will have a classical French-style landscape. Al Habtoor hopes the complex will see as many as 20,000 visitors daily. The completion of the project is for 2016.
Al Habtoor said the project will go to the contractor with the best proposal, and that the Al Habtoor Leighton Group, in which Al Habtoor owns a stake, will not be given priority,
According to Khalaf Al Habtoor, the pilling tender for the project will be made this week while the contract tendering will be made next month.
The new complex will be built on the same location as Metropolitan hotel, which demolished last year. The project will be financed internally, he added.
“Al Habtoor City will feature three world-class hotel brands from Starwood-including the first ever St. Regis in Dubai in addition to W Dubai and Westin Dubai. It will also have the added attraction of spectacular entertainment and will combine ultra-luxury to hotel living with 5-star residential ambiance which will be managed by Asteco Real Estate Services,” Al Habtoor said.
The first Bentley Café in the world and eleven executive penthouses two of these are 4-storey high podium signature penthouses worth Dh900 million.
“We don’t have plans to sell the VIP penthouses, but if we did put them on the market, we would not sell one of them for less than Dh900 million,” Khalaf Al Habtoor added.
“The new project will be one of the most luxurious freehold areas in Dubai as we are looking for high profile residence only.”
Mohammad Al Habtoor, Vice-Chairman and CEO of Al Habtoor Group, said that Al Habtoor City will be prime location in Dubai where ultimate luxury and elegance meet.
“The project will be completed with the Dubai Water Canal which will be soon the newest tourist location in the emirate,” he said.
Al Habtoor Group has partnered with some of the world’s best names to create such a world class city that will enable Dubai compete with world destinations such as New York, London, Paris and Hong Kong, he added.
The group has commissioned leading British architects WS Atkins for the development of the residential blocks. It has also appointed Knight Frank to provide retail consultancy expertise for the podium under the residential towers and Asteco Real Estate Services will manage and lease the towers and retail outlets, Mohammad Al Habtoor said.
“There will be no need for residents and visitors to leave the complex. They will enjoy an access to multiple amenities within the complex including swimming pools, a gym and spa, shops, cafes, supermarket, clinic as well as they will be able to enjoy the facilities available for the three top-rated hotels.”